GT Solar (SOLR) is providing preliminary results for the 2nd quarter fiscal 2010. The company expects revenues in the range of $100 – 105 million with an EPS of .06 – .07/share. It also reaffirmed the full year outlook of $450 – $550 million in revenues and .45 – .60/share for EPS. The company reports official results next week.
The company also announced a new CEO in Tom Gutierrez who took over last week for … Read the rest
LDK Solar (LDK) continues its slide lower and is closing in on all time lows after Germany’s Q-Cells ended a solar wafer supply agreement because LDK apparently didn’t fulfill significant contractual obligations. It looks like Q-Cells wants out of the contract because it can get supplies much lower now than the price the companies agreed on when the contract was put into place in addition to needing some cash. The company claims that the $244 … Read the rest
Evergreen Solar just announced that they will be introducing a new series of their String Ribbon Panels, the ES-C Series. The ES-C series is Evergreen’s first off-the-grid solar panel series. The panels can directly charge direct 12, 24 or 48 volt batteries in off-grid applications, and are designed to be easy to install while withstanding harsh weather conditions like wind and snow.
In a press release, Alan King, Director of Sales for the Americas, commented … Read the rest
Wedbush is downgrading First Solar (FSLR) this morning from Outperform to Neutral and cutting the price target from $170 to $120.
Hat tip to StreetInsider.com for the following analyst comment:
“We are downgrading First Solar to Neutral based on declining margin profile. Revenue falls short of consensus by $48 million due to the delayed revenue recognition for the Sarnia project. Significant manufacturing capacity expansion is not expected until at least 2011. We believe the modest … Read the rest
First Solar is selling off more than 15% in after hours trading and taking out key support levels again after the company beat Wall St estimates of 1.73/share, but missed the whisper number of 1.90 share. The company also missed by a wide margin on the revenue number but held firm with its full year revenue forecast of $1.975 – 2.025 billion which is at the high end of the previous range. All in all, … Read the rest
China Technology Development (CTDC) surged over 30% today with heavy volume after they announced a plan to acquire a 51% equity interest in China Technology Solar Power. Upon closing of the deal, the two companies will develop a 100MW grid connected solar project in Delingha City in the Quinghai Province. CTDC believes the purchase will further its goal of becoming a fully integrated solar company with the capability to design, build and operate solar plants. … Read the rest
The nation’s largest provider of renewable energy power disappointed investors this morning by missing analyst estimates and guiding lower for this year and next. FPL Group (FPL) reported a non GAAP EPS of 1.38/share, missing estimates by .03. Revenues were disappointing as well coming in at $4.47 billion which was a 17% decline from the year ago quarter. To make matters worse, the company is lowering guidance. For 2009, the company now expects an EPS … Read the rest
LDK Solar (LDK) gapped up about 10% this morning after the company raised guidance but finished around the lows of the day, up just under 2%. The stock just can’t seem to get anything going.
The company now expects to report revenues of between $270 – 290 million (up from previous estimates of $240 – 270 million) with shipments in the range of 310 – 330MW (up from previous guidance of 260 – 300MW) when … Read the rest
SunPower (SPWRA) announced yesterday that they have produced a world record, full sized 333kW solar panel with a 20.4% efficiency rate. The record beating efficiency for a full sized panel was confirmed by the National Renewable Energy Lab. The prototype solar panel was developed using DofE funds under the Solar America Initiative (SAI), awarded two years ago. It doesn’t happen very often, but it’s nice to see tax payer dollars put to good use! … Read the rest
JANCO Partners upgraded Sunpower (SPWRA) this morning from Accumulate to Buy because they believe the sell off after earnings is overdone.
Hat tip to StreetInsider.com for the following analyst comment:
“We are upgrading the stock to a Buy rating based on the upside potential in the stock given the recent pullback since the company announced earnings on 10/22/2009. With the pullback the stock is currently trading at 14.9X our FY2010 EPS estimate of $1.82, which … Read the rest