Otter Tail (OTTR) is plunging further below the 200 day moving average today and trading around $30/share after pricing its secondary offering. Bill Gates, a big holder of the stock is taking it on the chin again.. proving he’s no Warren Buffet. Gates also took a big hit in Pacific Ethanol (PEIX). … Read the rest
All posts by Tate Dwinnell
LDK Solar (LDK) Files Shelf Registration & Proposed Follow on Public Offering
LDK Solar (LDK) announced today it has filed a shelf registration statement on Form F-3 with the SEC providing for the offering on a delayed or continuous basis of equity and debt securities. In addition the company has filed a preliminary prospectus supplement wit the SEC for a proposed follow on public offering of ADS shares. The offering size is expected to be $150 million and 60% of the proceeds are going to be used … Read the rest
GT Solar International, Inc. (NASDAQ:SOLR) Adds Former Western Digital Chairman To Board Of Directors
GT Solar International, Inc, announced yesterday that it has added Matthew Massengill to its Board of Directors. Mr. Massengill’s previous executive experience includes being the chairman, CEO and president of Western Digital Corporation. He was with Western Digital for 20 years, during which time the company became one of the most efficient in the hard drive industry and maintained a consistent record of growth while continuing to make a profit.
J. Bradford Forth, GT Solar’s … Read the rest
Shaw Group (NYSE: SGR) Expands Contract With Entergy Nuclear Corp (NYSE: ETR)
The Shaw Group Inc. just announced an expansion of its maintenance contract with Entergy Nuclear. The Maintenance Division of Shaw’s Power Group currently offers maintenance services for 10 of Entergy Nuclear’s nuclear power plants. Now, the contract has expanded to include Entergy’s 798-MW Palisades plant, located near South Haven, Michigan. This brings the total number of Entergy plants maintained by Shaw to 11.
Although the financial value of this change has not been disclosed, Ron … Read the rest
VeraSun Energy Suspends Equity Offering Of Shares, Retains Morgan Stanley For Advice (VSE)
VeraSun Energy, the troubled ethanol producer, began a public offering of 20,000,000 million shares of its common stock two days ago. It also announced larger-than-expected third quarter losses on Wednesday and saw the price of its shares drop precipitously as a result. Now, the company has announced that it is suspending that equity offer, and it has retained the firm Morgan Stanley to act as advisors and help the firm evaluate alternate courses of action. … Read the rest
Green Plains Renewable Energy (GPRE) To Host Grand Opening For New Ethanol Plant
Green Plains Renewable Energy, Inc will host a grand opening celebration at its newly completed ethanol plant in Superior, Iowa. The celebration will feature food, refreshments and tours of the new plant, which just opened two months ago. The plant, with its location strategically selected to be near seven grain elevators and other agricultural facilities owned by Green Plains Renewable Energy, is a key part of the company’s strategy to become a vertically-integrated, cost effective … Read the rest
Google Announces Clean Energy Partnership with GE (GOOG; GE)
Google announced yesterday that the company is partnering with GE to make clean energy solutions available for consumers. Through this partnership, Google and GE will try to improve the existing electric infrastructure, focusing on creating a "smart grid" through upgrading power generation, distribution and transmission. The companies will also collaborate on advanced energy technologies, including charging for plug-in cars and geothermal.
According to the fact sheet about the partnership released by Google, GE and … Read the rest
Upgrades/Downgrades: HOKU, VSE, ESLR
A few upgrades and downgrades to tell you about today..
Evergreen Solar (ESLR) upgraded from Sell to Hold by Citi
“With ESLR more clearly defining its exposure to a Lehman Bros. bankruptcy, the worst-case scenario is now well defined. The primary issue is dilution as ESLR might not recover funds on the issuance of ~30MM shares to LEH as part of a share lending agreement. Although ESLR may also be out the ~$40MM it has … Read the rest
Verasun (VSE) Expects To Post Unexpectedly High Third-Quarter Loss
Verasun, an ethanol producer, just filed a notice with the SEC indicating that their third quarter losses will be much higher than expected. Originally, the company was expected to post a net loss $2.4 million. However, the regulatory filing shows that that the company expects a net loss of between $63 million and $100 million. The company’s stock is expected to lose 40 to 65 cents per share as a result.
In the filing, Verasun … Read the rest
Hoku (Nasdaq: Hoku) Enters Second Contract With Tianwei New Energy Wafer Co.
Marketwire reports that Hoku has entered into a second contract with Tianwei New Energy Wafer Co, bringing it one step closer to funding the polysilicon plant it is constructing in Idaho. Hoku has also increased the capacity of the proposed plant, from 3,500 metric tons of polysilicon to 4,000.
Under the new contract with Tianwei, Tianwei will pay Hoku Energy an additional $227 million, more or less, for predetermined amounts of polysilicon, to be delivered … Read the rest