What a quarter out of Veeco Instruments (VECO)! LED lighting demand remains on fire with the company smashing analyst estimates by .18/share after the bell today. The EPS number was more than double sequentially and an exponential jump over the year ago quarter when the company posted a loss of .15/share. Revenues were equally as impressive, jumping more than 50% sequentially and more than tripling over the year ago quarter.
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I had this written this up ahead of the bell this morning and forgot to hit publish! These things happen on Monday mornings.. Anyway, Citi reiterated its Buy rating on Veeco Instruments (VECO) and its $53 price target this morning. Hat tip to Street Insider for the analyst comment.
“Increasing estimates” F2010 EPS from $3.56 to $3.84 (Street $3.58), F2011 from $3.26 to $4.11 (Street $3.78) and F2012 from $1.69 to $3.39 as our prior … Read the rest
Barclays is upgrading two green stocks this morning – both A123 Systems (AONE) and MEMC Electronic Materials (WFR) get upgrades to Overweight from Equal Weight and price targets raised from $12 to $14 and $14 to $16 respectively.
Shares of AONE are trading up about 3% in pre-market trading after successfully clearing important resistance of the 50 day moving average on Friday. Shares of WFR are also trading up about 3% and continue to look … Read the rest
Yingli Green Energy just announced that it will be collaborating with Innovalight, a company that sells highly efficient solar products based on silicon ink. The goal of the collaboration is to help Yingli boost the efficiency of its own solar cells.
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In a press release, Dr. Dengyuan Song, Chief Technology Officer of Yingli Green Energy, commented on the collaboration:
“We are glad to sign this … Read the rest
Canadian Solar just announced that it has opened a new sales office in Italy. The new office, which will be located in Rome, will be overseen by Canadian Solar’s Country Manager for Italy, Marco Pietro.
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In a Pietro explained why the company felt it was important to open the new location:
“Italy is one of the world’s top alternative energy markets, with impressive demand growth and … Read the rest
Vestas just announced that it has received its largest order ever for a single site, 570MW worth of turbines to be used in Terra-Gen’s Alta Wind Energy Center in California.
Per the agreement, Vestas is responsible for delivering and commissioning as well as 5 years worth of service and maintenance. The first 50 turbines will be delivered and brought online by the end of this calendar year, and the remaining turbines will be up and … Read the rest
Digi Intl (DGII) reported results after the bell tonight that were a bit better than what analysts expected. The company reported a non GAAP Q3 EPS of $0.09, 2 cents better than the analyst estimate of $0.07. Revenue for the quarter was $47.2 million, which was a bit higher than the estimate of $46.90 million. Those numbers were about inline with what they posted a year ago and incrementally better than the previous quarter. All … Read the rest
Sempra Energy (SRE) will soon make an announcement as to which company will win the estimated $400 million smart meter contract. It had been thought that Itron (ITRI) would win the contract, but today Esco Technologies (ESE) announced it was selected by Sempra for “negotiation of a definitive agreement”.
RBC Capital Markets analyst Stuart Bush called the move unusual and said it implies Esco has a leading position in negotiations. Stifel Nicolaus analyst Jeff Osborne … Read the rest
Gleacher & Co. reiterated its Buy ratings on Sunpower (SPWRA) and MEMC Electronic Materials (WFR) today. Hat tip to Street Insider for the analyst comments. The firm has a price target of $19 on WFR which is about 75% above current levels and a $21 price target on Sunpower (SPWRA) which is about 50% above current levels.
On WFR: “WFR is scheduled to report its 2Q10 results on Thursday, July 29, 2010, after the market … Read the rest
Just a few days ago Solarfun Power (SOLF) announced a credit facility worth RMB 6 billion from the Nanjing branch of the Bank of Shanghai. This morning they announced another big credit facility, this time worth RMB7 billion from Bank of China. It has a term of 10 years with specific draw downs subject to review.
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Gareth Kung, Chief Financial Officer of Solarfun, commented, “Our longstanding … Read the rest