Solar stocks rebound strongly; Beijing pulls out all the stops to halt plunge

  • Down sharply yesterday, solar stocks (TAN +5.3%) are among today's standouts after Chinese regulators announced a fresh round of aggressive measures aimed at halting a local market crash. Among them: Investors holding 5%+ stakes aren't allowed to sell shares for six months.
  • Like their Web/mobile peers, Chinese solar names are surging: Big gainers include Yingli (NYSE:YGE +5.3%), Daqo (DQ +7.1%), Trina (TSL +5.6%), JA Solar (JASO +10.1%), China Sunergy (CSUN +12.4%), JinkoSolar (JKS +5.2%), Sky Solar (SKYS +10.7%), and ReneSola (SOL +4.8%).
  • Major non-Chinese gainers include Canadian Solar (CSIQ +4.1%), Solar3D (SLTD +11.3%), SolarEdge (SEDG +4.4%), and Vivint (VSLR +7.1%).
  • Some news: 1) The U.S. DOC has decided to maintain anti-dumping tariffs on Chinese module imports, while slightly modifying its rates. Yingli says it will now have a 21.7% combined rate, down from a 2012 level of 29.2% and the lowest among peers. 2) SolarEdge has struck a deal with #2 U.S. residential solar installer SunRun (RUN - about to go public) to be SunRun's "preferred supplier of optimized inverter solutions." SolarEdge also sells to SolarCity and Vivint. 3) Sky Solar has obtained an $85M loan to finance a Uruguay solar project.
  • Update (1:50PM ET): Yingli is now down 4.9%, thanks to a report stating the company has halted production after talks with creditors broke down.

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SymbolLast Price% Chg
YGE--
Yingli Green Energy Holding Company Limited