Ocean Power Technologies (OPTT) announced last week that it has installed its 3rd PowerBuoy wave energy system in Hawaii near the Kaneohe Bay on the island of Oahu as part of an ongoing partnership with the US Navy. OPTT monitors its PowerBuoy systems in New Jersey in real time with the use of onboard sensors, but the PowerBuoy has the ability to adjust automatically in changing sea states to produce the most amount of wave … Read the rest
All posts by Tate Dwinnell
Clean Energy Fuels (CLNE) To Benefit From Expanding CNG Bus Fleets
Bus fleets in San Diego, Las Vegas and Phoenix have begun expansions of their compressed natural gas (CNG) initiative in order to decrease emissions. Clean Energy Fuels (CLNE) has contracts in place with these cities and stands to benefit from the expansion of CNG use to the tune of 2.5 million additional gallons per year.
The San Diego Transit System is scheduled to add 26 new 60ft CNG buses and 50 ft CNG buses by … Read the rest
Business Week: "Energy Conversion Devices (ENER) Thin Film Solar Pure Play"
Gene Marcial of BusinessWeek is touting Energy Conversion Devices (ENER) as a top thin film solar pure play and believes its shares will surge higher again once solar stocks come back into favor. ENER’s proprietary technologies allow solar cells to be embedded into roofing materials.
“We view its thin-film solar technology as superior to, and differentiated from, the more established and commodity-like polysilicon-based solar technology,” says Angelo Zino, an analyst at Standard & Poor’s Equity … Read the rest
Kiplingers Obama Portfolio: Vestas Wind Systems (VWSYF), First Solar (FSLR)
In an article over at Kiplingers, Laura Cohn discusses some renewable energy plays that could begin running again due to Obama’s clean energy policies, which include deriving 10% of electricity from renewable energy sources within just the next few years.
– Vestas Wind Systems (VWSYF.PK)
The Danish company trades on the pink sheets and is the world’s leading supplier of wind turbines with a market share of 23%
– First Solar (FSLR)… Read the rest
Investors File Class-Action Lawsuit Against MEMC Electronic Materials, Inc (WFR)
Investors have filed a class-action lawsuit against MEMC Electronic Materials, claiming that the company did not disclose production issues at its facilities in Italy and Texas. These issues caused the results for the quarter ending June 30th, 2008 to be unexpectedly below target.
Here’s a little bit more detail on the lawsuit from the press release linked to above:
… Read the restThen on July 23, 2008 MEMC Electronic Materials, Inc. first disclosed that in early June 2008
LDK Solar (LDK) In 3 Yr 435 MW Supply Agreement With BP Solar
LDK Solar (LDK) just announced a new 3 year contract with BP Solar Intl. Under terms of the deal LDK will deliver about 435MW of multicrystalline silicon solar wafers from 2009 to 2011.
“We are very pleased to extend our relationship with BP Solar,” stated Mr.Xiaofeng Peng, Chairman and CEO of LDK Solar. “This additional wafer supply contract expands our North American presence and further enhances LDK’s position as a market leader.”… Read the rest
Caraustar Industries (CSAR) To Convert 2 Saginaw Production Facilities Into One
Caraustar Industries announced today that it is converting 2 older production facilities in Saginaw, MI into one new facility to produce recycled paperboard products. Because the newer facility has a better, more modern design, the company will be able to improve productivity while saving on the cost of maintaining two separate plants, direct labor costs, and some annual fixed costs.
Paul Curtis, Caraustar’s VP and regional manager, explained the significance of the move for his … Read the rest
More Solar Analyst Downgrades & Price Cuts: STP, SOLR, YGE, SPWRA, WFR, JASO
Here’s a rundown of today’s analyst notes on several solar names according to StreetInsider.com
Downgrades
– Raymond James downgrades Suntech Power (STP) from Strong Buy to Outperform and has price target of $15
– FBR downgrades GT Solar (SOLR) from Outperform to Market Perform
– Credit Suisse downgrades JA Solar (JASO) from Outperform to Neutral
– Wedbush Morgan downgrades SunPower (SPWRA) from Strong Buy to Buy and slashed the price target from $100 to $32. … Read the rest
Clean Energy Fuels (CLNE) Beats EPS Estimates But Loss Widens
Shares of Clean Energy Fuels (CLNE) are giving back about 8% of today’s 25% surge after hours after reporting mixed results. Revenues missed expectations by one million at 35.3 million for the quarter, good for a 21% increase over the year ago quarter. EPS, excluding one time stock compensation charges came in at a loss of .18/share, a bit better than the .22 loss analysts had expected. That compares to a flat non GAAP EPS … Read the rest
Citi Lowers Price Target on Applied Materials (AMAT), Maintains Hold Rating
According to StreetInsider.com, Citi is maintaining its HOLD rating but lowering the price target from $20 to $11.
The firm notes –
“If there was a surprise here it was the magnitude of poor order guide and the capitulation that this could take a full year to sort out. More broadly, the fact that orders are simply not flowing through to revenue/EPS means that AMAT’s backlog continues to balloon (>10mnths in Q109) and backlog … Read the rest