China Sunergy (CSUN) announced after the bell today that its CFO Siegfried Yi Chou Hsu had resigned for personal reasons on Sunday and that a replacement is being pursued. In the meantime, Yongfei Chen will act as interim CFO while the CEO will oversee investor relations programs. Chen joined China Sunergy today, coming over from China Electric Equipment Group where he was the general manager of finance.
All posts by Tate Dwinnell
MEMC Electronic Materials (WFR) Disappoints Again, Suspends Guidance, Shares Plummet
Every quarter for about the past year or more, traders have high expectations and each quarter, MEMC Electronic Materials (WFR) disappoints. They’ve done it again after the bell today. While the company did post non GAAP revenues a bit higher than analyst expectations at $551 million, they missed the EPS consensus estimate of .13/share by posting .10/share.
::: Click Here For Your FREE Daily WFR Technical Analysis :::
“Our third quarter results extended our recent … Read the rest
Ener1 (HEV) Announces $40 Million Deal With Russian Company For Utility Storage Systems
Ener1 (HEV) is announcing a significant contract with the Russian Federal Grid Company to co-develop utility scale lithium battery storage systems. The initial phase of the $40 million contract is already underway and focuses on grid integration of emergency power back up systems in economically critical areas. The Russian government is spending billions to upgrade its electrical infrastructure ahead of the Winter Games in 2014, so this may be the first of a few contracts … Read the rest
Jinko Solar (JKS) Crushes Estimates, Raises Guidance, Shares Soar
Jinko Solar (JKS) is having quite a morning, vaulting nearly 20% to new all time highs after crushing analyst estimates this morning. The company reported a whopping $1.75/share which wasn’t even close to the analyst estimate of $0.93 and a huge increase over the year ago quarter when the company reported just .09/share. Revenues were impressive as well coming in at $215 million vs the analyst consensus estimate of $153 million (a 267% increase over … Read the rest
Hapoalim Securities Sees Flat Solar Demand In 2011
According to Benzinga, Hapoalim Securities sees flat worldwide demand for solar in 2011 at around 15GW. Due to changes to incentives they see significant drops in Germany and the Czech Republic, but some growth in Italy, US, Japan and China. However, they don’t see growth in those countries offsetting the declines in Germany and Czech. It’s been a rough couple weeks for most solar stocks and the declines continue today. Taking a look at … Read the rest
NextEra Energy (NEE) Beats, Guidance Soft But Wind Energy Biz Doing OK
NextEra Energy (NEE), the largest provider of wind and solar power in the US, reported results this morning that beat analyst estimates and the company reported quarter over quarter revenue growth for the first in over a year. They reported a non GAAP EPS of $1.45/share vs the analyst expectation of $1.43 on revenues of $4.69 billion vs the expectation of revenues of $4.52 billion.
====> Click Here For Your FREE Daily NextEra Technical Analysis… Read the rest
Analysts Mixed On First Solar (FSLR), Shares Testing Key Support At $140
Analysts are weighing in on First Solar (FSLR) earnings results and it’s a bit of a mixed bag.
Deutsche Bank downgraded the stock to Hold from Buy and lowered the price target from $155 to $125. While the company notes that the quarter was strong and guidance was raised they have more concerns about 2011 with early data pointing to declining margins .
====> Click Here For Your FREE Daily First Solar Technical Analysis
Hapoalim … Read the rest
Elon Musk: Hopes To Have Model X Electric SUV Prototype By Next Year, Production 2014
Earlier today I posted about Tesla Motors (TSLA) opening up the doors on their new production facility to produce the all electric Model S sedan beginning in 2012. Greentech reports that Elon Musk also discussed the future of its electric SUV which it’s developing with Toyota. Musk said he hopes to have a prototype by the end of next year and move to production in 2014.
Power One (PWER) Smashes Estimates Again, Soaring 20%
Power-One (PWER) is powering much higher in after hours trading after smashing estimates once again and guiding higher. The company , a leading provider of renewable energy and energy-efficient power conversion and power management solutions, posted record EPS and revenues with an EPS of .40/share on revenues of $314 million. That’s a smashing of the consensus estimate of just .23/share on revenues of $265 million and a big jump over the year ago quarter when … Read the rest
First Solar (FSLR) Beats With Record Numbers & Raises Guidance, But Shares Pressured
First Solar (FSLR) posted strong 3rd quarter results after the bell today beating analyst estimates as well as the whisper number of $2.10. The expectations are always high for FSLR and the company delivered, but apparently it’s still not enough because the stock is down 5% in after hours trading. This is likely just a sell the news scenario after a healthy run in the past few months.