MEMC Electronic Materials (WFR) is reporting Q4 preliminary results this morning. The company anticipates revenue in the range of $753 – $792 million with non GAAP EPS loss in the range of .17 – .23/share.
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"We responded to the continuing cyclical downturn in the semiconductor industry and the severe market disruption in the solar market by taking decisive action through a significant restructuring that we believe … Read the rest
A rising tide lifts all boats, even the SS Energy Conversion Devices (ENER). This is a thin film solar company with oodles of promise.. a few years ago. The company has been bleeding red ink for some time and has traded below a buck for many months. It’s now a lotto ticket play, albeit with much better odds.
The stock got a big boost yesterday along with the entire solar sector on the report out … Read the rest
If you’ve been a reader of Green Stocks Central, then you know I’ve been increasingly bullish on solar in recent months calling Yingli Green Energy (YGE) a top play and initiating a position in Suntech Power (STP) in late October. STP didn’t hold the bullish wedge formation and fell back into the base, but I’ve been patient scaling in slowly. That position is now paying off with yesterday’s move and it’s not too late to … Read the rest
PowerSecure (POWR) announced today it has landed a new contract worth $20 million over the next two years. The contract calls for transmission and distribution construction as well as maintenance services for two divisions of a major public company that was unnamed in the release. A third of the revenue will be recognized in 2012 and the remaining the following year.
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Sidney Hinton, CEO of PowerSecure, … Read the rest
Canadian Solar (CSIQ) is still trying to find a bottom and today is a good start towards that with the stock up over 30% on news it has sold nine solar plants in Ontario with a combined capacity of 86MW to TransCanada Corporation for about $470 million. All of the projects are under a 20 year power purchase agreement with the Ontario Power Authority. The purchase on each project will close once the plants begin … Read the rest
Just when you think it couldn’t get any worse for First Solar (FSLR)… well it does and the stock is rapidly closing in all time lows not seen since the stock went public about five years ago. The stock is down more than 20% and around the lows of the day after the company announced it’s slashing guidance for this year and next, laying off 1% of its work force and the departure of another … Read the rest
It’s been a dismal year for green energy and solar stocks in particular. Overcapacity, lower demand, shrinking selling prices and plummeting stocks has been the theme all year. Investors and shorter term traders are looking for big news to spark a rally in solar and news that Warren Buffett is jumping headfirst into solar with a big $2 billion acquisition of the 550MW Topaz Solar Farm being built by First Solar (FSLR) may just be … Read the rest
Suntech Power (STP) is announcing preliminary results this morning that aren’t bad. The company expects shipments will have increased 15% over last quarter with revenues exceeding $800 million. Margins are expected to be at the higher end of the previously announced range of 11 – 13%. However, the stock is off a few percent this morning on news that the company will incur a larger than expected Forex hit. Looking ahead, the company is optimistic … Read the rest
Yingli Green Energy (YGE) is out this morning updating guidance ahead of official earnings results in a few weeks and there are no surprises. As has been the case with ALL solar companies, YGE is taking down guidance, but it isn’t slashing guidance significantly like many other companies have and YGE remains my top China solar play.
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The company now expects that Q3 shipments increased … Read the rest
Barron’s has a good post outlining some of the highlights of the First Solar (FSLR) conference call last night. Here’s a brief summary, but check out the article.
Ahearn acknowledged that the future for solar in the shorter term isn’t as bright as he hoped it would be, but there is lots of opportunity. That opportunity is apparent in China where it will have to get a healthy supply of electricity from renewable sources if … Read the rest