Here are the lowlights for the Otter Tail (OTTR) quarter. The company reports an EPS of .07/share, missing estimates by .04/share and under performing from the year ago quarter by 36%. Revenues missed estimates badly as well coming in at $247 million vs the estimates of $304 million and representing a 24% drop from the year ago quarter. To top it off, the company is lowering guidance for 2009 to .70 – 1.10 from .80 … Read the rest
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Otter Tail (OTTR) Misses Estimates & Guides Lower
Bill Gates continues to get hammered by the OTTR. As a significant owner of the stock (he recently added more), he’s getting hit again today after Otter Tail (OTTR) missed estimates and guided lower for next year. The company reported 4Q EPS of .38/share which missed estimates of .45/share, a 17% drop over the year ago quarter and the 4th straight quarter of negative growth. The company also missed on revenues, reporting $334 million vs … Read the rest
Otter Tail Corporation’s (OTTR) DMI Industries To Cut Workforce
DMI industries, an operating company of Otter Tail, just announced that it will be cutting its workforce by 20% due to the current economic situation. The company will start 2009 with 750 employees in total, 150 more than at the beginning of 2008. The workers who have been laid off will be provided benefits and compensation for a transition period.
Here’s what DMI president Stefan Nilsson had to say about the layoffs:
… Read the rest"We remain committed
Upgrades: Otter Tail (OTTR) & VeraSun Energy (VSE)
2 upgrades to tell you about this morning – Citi upgraded VeraSun (VSE) from Sell to Hold but lowered the price target from 3 to 1.85, saying “The difficulties in 3Q08 are primarily related to the company’s corn hedging activities as VeraSun chose to lock in significant quantities of corn back in July when the corn market was reaching its peak. Consequently, as corn prices quickly reversed course VeraSun generated large losses on its corn … Read the rest
Otter Tail (OTTR) Plunges Again After Pricing Secondary
Otter Tail (OTTR) is plunging further below the 200 day moving average today and trading around $30/share after pricing its secondary offering. Bill Gates, a big holder of the stock is taking it on the chin again.. proving he’s no Warren Buffet. Gates also took a big hit in Pacific Ethanol (PEIX). … Read the rest
Otter Tail Corporation (OTTR) Announces Public Offering Of Common Stock
Otter Tail Corporation announced today that is offering 5,000,000 shares of common stock to the public in order to finance the expansion of existing wind farms and the construction of a new wind farm. The proceeds from the offering will provide the company with funds for the construction of the Ashtabula Wind Center in North Dakota and the expansion of existing facilities in Oklahoma and North Dakota.
The company also updated its expected earnings per … Read the rest
Cramer Says Thursday Will Be A Landmark Day For Wind Power
In his mad money TV show Tuesday, Cramer says “I think Thursday will be a landmark day for wind power”. Why Thursday, because coming Thursday Texas Public Utility Commission makes an important ruling that will significantly boost wind power in the state. Also at 4 cents per kilowatt, Cramer says wind energy is the cheapest form of renewable energy.
… Read the restThis proposal/ruling will create 8 renewable energy zones in the state, which will provide much
Today’s Big Green Stock Movers: ALTI, XNL, APWR, OTTR
UP
Altair Nanotechnologies (ALTI) up 33.79% on this news
Xethanol (XNL) up 11.11%
A-Power Energy (APWR) up 8.59%
Otter Tail (OTTR) up 5.04% and broke out to new all time highs!
DOWN
Quantum Fuel Systems (QTWW) down 7.14% … Read the rest