Caraustar Industries, a maker of recycled paper products, just released their 3rd quarter results. Before restructuring and impairment costs are accounted for, the company posted a net income that rose just slightly from their net income this time last year, $7 million compared to $6.2 million. However, this year they posted a net loss from continuing operations of $75.4 million, or $2.63 per share. That’s a drop from this time in 2007, when they posted … Read the rest
All posts by Tate Dwinnell
Credit Suisse Lowers Price Targets For Several Major Solar Stocks (JASO, SOL, STP)
24/7WallStreet.com notes that Credit Suisse has lowered price targets on several major solar stocks. Apparently, with the economic downturn, shares just aren’t selling for as much as the used to, and the price targets were adjusted to reflect the new economic reality. According to the article, they may be starting a trend, as we can expect other brokerage firms to start taking similar actions. Here’s a quick rundown of the affected companies:
… Read the restJA Solar Holdings
UQM Technologies (UQM) Reports Wider Loss On Higher Revenues
UQM Technologies (UQM), the developer of parts for electric cars announced results after the bell today posting a loss of .06/share, widening the loss from the year ago quarter by .02. Revenues increased to 2.78 million in the quarter from revenue of 2 million in the year ago quarter, but the company was hurt this quarter on rising expenses.
Said the CFO, “Production engineering expense for the quarter rose 20 percent to $485,369, reflecting a … Read the rest
Energy Focus (EFOI) In Contract with Architectural Floors
Energy Focus (EFOI), a leader in energy efficient lighting announced today that it has finalized a multi phase contract with Architectural Floors of Cleveland and includes design, manufacturing, engineering, installation and support services to light their 65,000 sq ft storage and distribution facility. No word on how large the deal is.
“Energy Focus offers a complete energy solution package, a solution that provides substantial energy cost savings, easier maintenance and improved illumination,” said Joe Kaveski, … Read the rest
First Solar (FSLR) Analyst Ratings: Buy, Buy, Buy
Following last nights earnings report and news of a big supply deal, the analysts are out with their ratings this morning:
According to StreetInsider.com..
Gabelli Issues Buy rating and raised 08 estimates. “We are increasing our ’08, ’09, and ’10 EPS estimates to $4.00, $8.00, and $11.25, respectively, from $3.60, $6.50, and $10.15. 3Q EPS of $1.20 were well ahead of our expectation of $1.05, and consensus of $1.02. On the conference … Read the rest
Rubicon Technology (RBCN) Reports Third Quarter Results
Rubicon Technology also reported its third-quarter results yesterday. The company reported revenue for the third quarter of $11.8 million, up 29 percent from the third quarter of last year. This was also a 2% increase over the second quarter of 2008. Earnings per share decreased moving into the third quarter from the second quarter of 2008, from $.10 per diluted share to $.07 per diluted share. This quarter’s results include $1.3 million of contracted … Read the rest
MEMC Electronics (WFR) CEO Resigns
MEMC Electronics (WFR) CEO Nabeel Gareeb has informed the board of directors that he will resign and the company has appointed Board member Marshall Turner to serve as interim CEO effective Nov 12th. Mr. Gareeb to aid in the transition to a new CEO.
Said Gareeb, “We have created a unique asset-efficient model and cost-efficient structure that has allowed MEMC to generate industry leading profitability and consistent cash flow generation over the years, in good … Read the rest
Energy Conversion Devices (ENER) Hit With Sell Rating
According to StreetInsider.com, Energy Conversion Devices (ENER) is being hit with a Sell rating by Citi this morning:
“We acknowledge ENER’s small scale and niche end market (BIPV) in regions like France + Italy may provide some near-term pricing cover, but those markets are still not big enough to provide much headroom. Meanwhile, collapsing prices for competing x-Si modules should overtake its pricing umbrella by CQ1:09. These floodwaters should force it to get more … Read the rest
Itron (ITRI) Reports Profits In The 3rd Quarter And Revises Guidance
It’s 3rd quarter earnings report time again, and we have some good news to report. If you own shares in Itron, a company that makes smart meters, you’ll be pleased to see that they are now turning a profit and are exceeding analyst’s expectations for the third quarter.
This time last year, Itron reported a net loss of $3.4 million, or .11 per share. Yesterday, it reported a net income of $7.7 million or $0.21 … Read the rest
Kaydon (KDN) Gets Buy Rating From Deutsche Bank
I reported yesterday that Kaydon (KDN), the maker of specialty ball bearings for the wind market reported so so results but that much of the negativity had most likely already been built in. Apparently, Deutsche Bank feels the same way and upgraded the stock from Hold to Buy this morning, saying:
“Cyclical risk appears adequately discounted. Plenty of free options. While we dislike the inherent cyclicality of Bearings markets as we enter what appears to … Read the rest