While trading in shares of Rino International (RINO) remains halted during an accounting investigation, some facts are beginning to trickle out confirming that there is indeed fraudulent activity going on at Rino International (RINO).
The independent auditors have said that CEO Zou Dejun told them two of the six contracts in question by Muddy Waters are invalid, but that the others are legitimate and can be verified. The firm says that the financial impact can … Read the rest
We’ve seen Cisco making a big push into the smart grid space with recent software purchases, Google wants a piece and you can expect Microsoft to say “me too” as well just as it does with every other product it launches. It was announced a couple days ago that Microsoft will team up with Telvent to create more efficient smart grid solutions for the utility industry.
==> Click Here For Your FREE Daily Telvent Technical … Read the rest
The 2nd generation electric RAV4 SUV from Toyota (TM) powered by Tesla (TSLA) was unveiled at the LA Auto Show yesterday. Fast Company has a few pics. It’s expected to hit the market along with the all electric Prius in 2012.
I meant to get this out yesterday, but battling a nasty cold so sleep was a priority. Anyhoo Canadian Solar (CSIQ) reported better than expected results, beating on both the EPS and revenue side. The company reported an EPS of .47/share vs the analyst estimate of .43 on revenues of $377 million vs the analyst estimate of $347 million. The EPS number is 32% lower than the year ago quarter, but that was a … Read the rest
According to Reuters, Yingli Green Energy (YGE) has signed a deal to build a $435 million solar manufacturing plant with a local partner within the next year. South Africa also signed an agreement with China Development Bank to partner on green energy projects.
Shares of YGE are up about 4% in premarket, but are technically broken having busted through key support levels in recent days.
==> Click Here For Your FREE Daily Yingli Technical … Read the rest
You really have to begin to question whether it makes sense to hold any China based company for the long haul (or at all for that matter). It seems there are more questionable companies trading as ADR’s on US exchanges (see DYP, DGW, RINO, etc) Now we have A-Power Energy postponing its earnings results scheduled for tomorrow until “later in the year”. Huh!? The company says it is not related to any accounting regularities, but … Read the rest
It seems like just yesterday that General Motors (GM) was “Government Motors” and relying on you and I to remain afloat. Ah what a difference a couple years can make. As is the case with most of the major auto manufacturers, General Motors (GM) has experienced a resurgence with an expected $2 billion in profits in Q3, culminating in an IPO which priced tonight well above the expected range of $26 – $29 at $33/share. … Read the rest
Duoyuan Global Water (DGW) could use some good news. The stock was hammered in September on accounting concerns and has had trouble recovering. This morning there is a bright spot as the company reported earnings that were ahead of analyst estimates both on the EPS and revenue side. The company reported an EPS of .55/share vs the analyst estimate for .48 on revenues of $51.5 million vs the analyst estimate for $49 million. Those numbers … Read the rest
This morning I posted the concerns out of Credit Suisse and Axiom Capital that solar companies are adding too much capacity when demand is expected to soften. I think part of the reason Suntech Power (STP) is under pressure this morning is the announcement they are adding 375MW in capacity with the full acquisition of Glory Silicon Technology, of which it current has an investment in.
==> Click Here For Your FREE Daily Suntech Technical … Read the rest
Energy Focus (EFOI) saw a minor boost in shares yesterday following news that the company has received an additional $4.1 million in efficient lighting retrofit contracts. Half the contract is to upgrade large SE university, $1 million is for a military base and the rest is for a community college and elementary school.
==> Click Here For Your FREE Daily Energy Focus Technical Analysis
Joseph Kaveski, CEO, Energy Focus, Inc., commented: “As I discussed … Read the rest