I’m starting to get real interested in shares of MEMC Electronic Materials (WFR) down here and today’s announcement that the company will reinstate their repurchase program may just get me into a small position soon. The program was suspended in April 2009, but has been reinstated. Up to $550 million in repurchase capacity remains and the company may purchase common stock on the open market or through privately negotiated transaction. The program may be modified … Read the rest
All posts by Tate Dwinnell
Quantum Fuel Systems (QTWW) Soars On Lockheed (LMT) ISIS Airship Deal
It’s been a mighty rough 2010 for Quantum Fuel Systems (QTWW), falling from a high of 1.50 last September to around 50 cents yesterday. Today, it finally got some good news and the stock surged 16% with good volume. It’s still trading well below a buck, but perhaps the bottom is near. It announced this morning that it’s been awarded a contract from Lockheed Martin (LMT) to supply hydrogen metering systems for use in Lockheed’s … Read the rest
Morgan Joseph Reiterated Buy On Cree Inc (CREE), $100 Price Target
This morning Morgan Joseph reiterated its Buy rating again on Cree Inc (CREE) just as they did in April and maintains its $100 price target (about a 50% jump from current levels). Hat tip to Street Insider for the following analyst comment.
===> Click Here For Your FREE Cree Analysis
“With shares trading at approximately 21x our CY2011E EPS of $2.60, excluding $9.10 in current cash per share, we believe CREE is undervalued. We … Read the rest
Solarfun (SOLF) Smashes Estimates With Record Revs & Profits, Shares Soar
Solarfun (SOLF) reported what has probably been one of the most impressive solar earnings reports this earnings season. Not only did the company properly hedge to avoid currency exchange losses, but they reported record revenues and smashed analyst estimates. No wonder the stock was up nearly 20% at one point today.
===> Click Here For Your FREE Solarfun Analysis
The non GAAP EPS of .40 was more than double what analysts expected (.19). Revenues beat … Read the rest
Yingli Green Energy (YGE) To Put Off US Plant
According to Reuters, Yingli Green Energy is putting off a decision to open a 100MW plant in the US, citing market uncertainty as a key factor. Yingli had previously stated it planned to have the plant up and running by the end of this year.
===> Click Here For Your FREE Yingli Green Energy Analysis
Helena Kimball, head of marketing communications at Yingli, explained the decision further to Reuters:
“We are delaying the decision … Read the rest
UQM Technologies (UQM) Sinks On Earnings, Piper Jaffray Downgrade
UQM Technologies (UQM) reported earnings last night that were in line with the analyst estimate of a .03/share loss on the EPS side, but missed the revenue estimate of $2.39 million (posting $2.28 million). This is a company that continues to struggle, but sees potentially rapid growth next year with the CFO predicting profitability in Q1 2011 with some help from the DOE.
CFO Donald French commented: “During the first quarter of fiscal 2011 we … Read the rest
Ardour Capital & Auriga Cut Yingli Green Energy (YGE) Price Targets After Earnings
Ardour Capital and Auriga weighed in on Yingli Green Energy (YGE) this morning following its earnings report yesterday.
Ardour Capital downgraded from Buy to Hold and cut the price target from $16 to $10.
Auriga maintains its Buy rating, but cut the price target from $18 to $14. They acknowledge the strong quarter and guidance, but remain concerned about the impact of the free falling Euro and have adjusted their estimates to account for a … Read the rest
Trina Solar (TSL) Beats With Record Revenues & Shipments, Sees Minimal Impact From Euro Concerns
Trina Solar (TSL) reported record revenues and shipments this morning, beating analyst estimates in the process despite a $14 million forex hit. The company posted and EPS of .66 on revenues of $336.8 million, which was better than the analyst estimates of .61 and $328 million respectively. That’s good for a 155% jump in revenues over the year ago quarter as shipments rose to 193MW. That’s a record for shipments and above their previous guidance. … Read the rest
American Superconductor Corporation (AMSC) Expands Partnership With Sinovel
AMSC just announced that it will be expanding its strategic partnership with Sinovel. As part of the expanded partnership, the two companies will work together to develop new advanced, multi-megawatt-scale onshore and offshore wind turbine designs.
===> Click Here For Your FREE American Superconductor Analysis
Sinovel will then sell the turbines, purchasing core electrical components for them from AMSC.
In a press release, Greg Yurek, founder and chief executive officer of AMSC, commented on … Read the rest
SunEdison (WFR) Partnering With First Reserve In JV to Provide Funding For $1.5B Of Solar Projects
SunEdison, a division of MEMC Electronic Materials, just announced a new joint venture with First Reserve. The joint venture could provide funding for the acquisition of up to $1.5 billion in solar projects.
To start, SunEdison and First Reserve will contribute an initial equity commitment of 167 million. Combined with additional debt financing under consideration, this will fund the acquisition of $825 million of SunEdison’s solar assets. Depending on market conditions, First Reserve may also … Read the rest