It should be another tough day for solar stocks tomorrow. I just posted about the awful results from JA Solar (JASO) and LDK Solar (LDK) is indicating a rough quarter as well and revising guidance much lower ahead of its earnings report on August 29th.
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The company now sees quarterly revenues in the range of $480 – $500 million vs the previous estimate for revenues of … Read the rest
LDK Solar (LDK) finished last week with a resounding thud and looks like it’s on a fast track to test the 2010 lows. The company reiterated its guidance for Q1 and the full year, but announced it is postponing a bond offering to raise cash. The company will report official earnings results on Tuesday after the bell.
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They are reiterating Q1 revenue guidance of $745 – … Read the rest
Article courtesy of ForexTraders.com …
The year of 2010 will be remembered for its uncertainty and bouts of risk aversion, but it also ended with a rise in values across the board, signaling a potential economic recovery on a global scale. The major benefactors appeared to be shareholders of portfolios heavy in commodities, as run ups in value there were steep and unsustainable. As 2011 dawned, interest appears to have returned to the green sector, … Read the rest
The solar stocks are getting a nice pop today after LDK Solar (LDK) raised both its revenue and shipments outlooks for Q4 and next year. The company says growth is being driven by lower prices, government incentives and renewable energy requirements across the world, particularly in Asia, the US and Europe.
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The company now expects Q4 revenues of $870 – $910 million vs the previous estimate … Read the rest
Here’s a run down of today’s green stocks analyst calls…
(via Benzinga) Axiom Capital pointed out an article over at the Financial Times (in German) that discussed the potential of additional solar subsidy cuts in Germany due to increasing electricity rates associated with the boom in solar installations. Nothing set in stone yet, just proposals. Solar stocks have been slammed in recent weeks and were down another 2% today (solar ETF TAN).
JP Morgan … Read the rest
The Chinese solar companies continue to report impressive growth and LDK Solar (LDK) is no exception as the company smashed analyst estimates this morning and raised guidance way above expectations. The company reported a non GAAP EPS number of .72/share vs the analyst estimate of just .43/share on revenues of $675 million vs the estimate of $628 million. Those numbers represent quarter over quarter growth of 167% and 140% respectively.
LDK Solar (LDK) has announced it landed a big $300 million, 2 year contract with BYD Company of China for a supply of polysilicon every month to begin in January. A deposit for the shipments has already been received.
"We are very excited to add BYD, a leading high-tech enterprise that has a strong commitment to the green energy sector, as a key customer," stated Xiaofeng Peng, Chairman and CEO of LDK Solar. "This agreement … Read the rest
LDK Solar (LDK) is surging higher in pre-market trading and lifting other solar stocks after it raised Q3 guidance. The company now expects revenues to come in at $610 – $640 million vs the previous estimate of $570 – $600 million. They are also raising shipments guidance on modules and wafers. The company expects to ship 550 – 570MW in solar wafers and 80 – 90MW in solar modules which compares with the previous … Read the rest
Auriga is out with a research note on select stocks today and remains generally bullish on the sector. They indicate that industry fundamentals remain strong both in terms of pricing and volume. Q1 volumes are strong and sold out in some cases as pricing remains firm while the 2nd half of 2011 warrants cautious optimism rather than pessimism. Here are notes on some individual names.
Jinko Solar (JKS): Sees upside to current estimates as shipments … Read the rest
There have been a few analyst calls in the past couple days I want to review here, mostly in the solar space.
Upgrades/Bullish
Yesterday, Trina Solar (TSL) was added to Morgan Stanley’s Long Research Tactical Idea list and initiated with a Buy over at Soleil, saying the firm has one of the strongest balance sheets in the industry. The stock moved a bit yesterday on the bullish calls, but really took off today, up another … Read the rest