A nice 220 million contract for Applied Materials (AMAT) was announced this morning and under terms of the deal, AMAT will supply precision wafering systems to support LDK Solar’s expansion plans and begin shipping in early 09.
Applied Materials called the deal the largest contract ever awarded for wafering systems
“We believe that Applied’s state-of-the-art wafering systems, including its HCT wire saws and squarers, are the best choice to help us scale up capacity to … Read the rest
ReneSola (SOL) posted outstanding results this morning with an EPS of .38, nearly 4x higher than the year ago quarter and 6 cents ahead of analyst estimates. Revenues came in at 173 million, a 289% increase over the year ago quarter and more than 30 million ahead of estimates.
The company sees FY revenues of 640-670, vs prior guidance of 570 – 590 and the analyst estimate of 612.
“We are excited about the … Read the rest
Trina Solar (TSL) reported a very strong quarter and more than doubled profits but missed analyst estimates of .81/share by reporting .76/share after taking out the one time charge for the closing of the polysilicon project in Lianyungang. The company was also hit on currency fluctuations to the tune of .24/share. Revenues came in ahead of estimates and nearly tripled to 204.2 million and the company raised expectations for the year.
Trina Solar (TSL) is … Read the rest
A few upgrades of green energy stocks this morning:
* A-Power Energy (APWR) Started at a Strong Buy by Raymond James
* Sunpower (SPWR) upgraded from Neutral to Buy on valuation and the PG&E deal by Merril Lynch
* Stanford Group initiates coverage on EMCORE (EMKR) with a Buy rating… Read the rest
Canaccord Adams is raising its price target on CSIQ from $43 to a whopping $44 and reiterates its BUY rating according to StreetInsider.com. Why the big jump in price target you ask?
Canaccord liked the recent quarter results and noted that the earnings were at the high end of its pre announcement. The firm also likes the fact that it already has all of this year’s plans funded and 70% of its supply coverage … Read the rest
The going is good for LDK Solar. First the blow out earnings results yesterday, this morning a new 5 year contract to supply multicrystalline wafers to India based XL Telecom & Energy. They will deliver about 300 MW of the silicon wafers over the 5 yr period, beginning in early 09 with XL Telecom making a down payment for a portion of the contract value. No word on the total value of the contract.… Read the rest
Adam from The Daily Options Report writes: “FSLR feels particularly enticing. Options are very cheap by FSLR standards. Which makes some degree of sense when you consider that the stock has settled into a range. But some interesting things here. It’s basically moving with the whole energy/ag/mining space right now. And has dribbled right back the to 200 Day MA. Not terribly likely it just settles in peacefully around here this week without some degree … Read the rest
Briefing.com reports that Canadian Solar reports Q2 results, beats on revs; guides Q3 revs in-line; guides FY08 revs in-line Reports Q2 earnings of $0.36 per share, includes one-time non-cash debt conversion charge of $10.2 million, may not be comparable to the First Call consensus of $0.47; revenues rose 24.2% year/year to $212.6 million vs the $206.8 million consensus. Co issues in-line guidance for Q3, sees Q3 revs of $245-255 million vs. $247.63 million consensus. Co … Read the rest
Over the past week or so JCL Holdings, which owns around 15% of the company has been cashing out tens of millions in First Solar (FSLR) shares. I don’t think it’s too unusual for a company to want to take some profits on a great investment at this point, but additional insider selling should be watched closely. It most certainly has been a drag on the stock, which has been pushing down from the day … Read the rest
JA Solar (JASO) certainly didn’t report the blow out results that LDK Solar did but nonetheless it was a decent quarter, albeit a bit below what analysts had been expecting on the EPS side. The company reported an EPS of .14/share, about double the year ago result. Revenues were triple from the year ago and a bit higher than what analysts had been expecting at 180.3 million. The company issued strong guidance for 08 and … Read the rest