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Market Vectors Solar Energy ETF (KWT)

  • Aug. 30, 2012, 4:00 PM
    The entire solar sector is taking a beating from First Solar's (FSLR -18.6%) woes and a string of weak earnings reports from China Sunergy (CSUN -7.5%), JA Solar (JASO -1%) and Yingli Green (YGE -10.8%). ThinkEquity cuts YGE to Sell based on “persistent losses," setting a price target of $1; Maxim warns of a "mounting” cash drain and net debt that “has reached dangerous heights."
    | Aug. 30, 2012, 4:00 PM | 12 Comments
  • Aug. 30, 2012, 10:28 AM
    Angela Merkel says she wants to see talks between the EC and Chinese authorities to prevent the implementing of solar anti-dumping tariffs similar to the ones imposed in the U.S. The EU's need for Chinese imports and debt purchases could lead it to take a softer line than the U.S., something that would go over well with struggling Chinese solar module vendors who have delivered one awful earnings report after another.
    | Aug. 30, 2012, 10:28 AM | Comment!
  • Aug. 26, 2012, 4:12 AM
    U.S. companies are having to cope with an estimated tax bill of $100M following the Commerce Department's imposition in May of provisional antidumping duties of 31%-250% on Chinese-made solar panels and making the tariffs retroactive by 90 days. The companies are pinning their hopes on the department or ITC overturning the retroactive element of the taxes.
    | Aug. 26, 2012, 4:12 AM | Comment!
  • Aug. 24, 2012, 11:31 AM
    The reported takeover of insolvent German solar player Q-Cells by South Korea's Hanwha Chemical could spark more mergers in the sector, 24/7's Jon Ogg writes: "The only way these companies can ultimately make it is to band together to fend off Chinese solar dumping and margin pressures as government subsidies are ending."
    | Aug. 24, 2012, 11:31 AM | Comment!
  • Aug. 22, 2012, 1:03 PM
    In addition to upgrading Canadian Solar, Lazard is downgrading rival Trina Solar (TSL -2.5%) , citing a lack of near-term earnings catalysts. Trina missed Q2 estimates yesterday and lowered its full-year guidance, though shares rallied in response. Shares of solar names continue to swing wildly as bulls and bears place wagers on how long the current environment of industry oversupply, poor European demand, crumbling prices, and weak margins will last.
    | Aug. 22, 2012, 1:03 PM | Comment!
  • Aug. 21, 2012, 12:24 PM
    Proving once again the Street's actual expectations for solar companies are often far worse than analyst forecasts, Trina Solar (TSL +5.2%) is now rallying after badly missing Q2 estimates, cutting its shipment guidance, and reporting a major increase in inventory. A Q2 gross margin of 8.4%, down from 17% in the year-ago period but up from Q1's 5.8% could be encouraging bulls. Solar peers are also rallying (TAN +2.6%). Some big winners: FSLR +9.1%. YGE +5.1%. SOL +6.9%. JKS +4%.
    | Aug. 21, 2012, 12:24 PM | 2 Comments
  • Aug. 20, 2012, 11:39 AM
    A handful of solar names are posting big gains this morning: FSLR +6.4%. STP +5.6%. TSL +3.8%. JKS +9.1%. SOL +5.1%. The gains come even as the Chinese government, upset over the solar anti-dumping  tariffs imposed by the U.S. in May, threatens "legal measures" against American solar manufacturers over U.S. government support for various renewable energy programs.
    | Aug. 20, 2012, 11:39 AM | 4 Comments
  • Aug. 13, 2012, 1:53 PM
    Solar stocks are weak today (TAN -2.8%), possibly due to a guidance cut from SolarWorld (SRWRF.PK): the troubled German module vendor, whose shares fell 12.2% in Frankfurt, now expects 1H sales to be down 36% Y/Y. Bucking the trend is Canadian Solar (CSIQ +1.3%), which just received a $94M loan from China Development Bank. That won't do anything to soothe U.S. and E.U. concerns about Chinese government support for local manufacturers.
    | Aug. 13, 2012, 1:53 PM | Comment!
  • Aug. 9, 2012, 2:10 PM
    Solar stocks are mostly higher after strong earnings but weak guidance from SunPower (SPWR -11.3%): FSLR +2.3%, YGE +1%, STP +3.7%, TSL +2.7%. One bright spot for SPWR was a 10%-plus drop in blended cost/watt; it now expects to achieve a cost/watt of less than $0.75 on its lowest cost solar panels by year end, a full year ahead of schedule.
    | Aug. 9, 2012, 2:10 PM | Comment!
  • Aug. 9, 2012, 8:09 AM
    Another coal-fired power plant is set to go dark, the Rochester, MN utilities board voting to retire its Silver Lake facility. Cheap natural gas and wind power is making it cheaper to buy power off the regional grid, and there's also the whole clean air thing. (see also)
    | Aug. 9, 2012, 8:09 AM | 5 Comments
  • Aug. 8, 2012, 4:24 PM
    SunPower (SPWR) is now down 14.1% AH following its Q2 report. It looks as if the Street is skeptical about full-year guidance, and is focusing on the Q2 top-line miss and soft Q3 forecast. SunPower's gross margin rose 240 bps Q/Q to 15.1% thanks to a 10% drop in cost per watt, and played a big role in the EPS beat. However, it's expected to fall to the 10%-12% range in Q3. Other solar names could end up declining tomorrow in sympathy. (PR)
    | Aug. 8, 2012, 4:24 PM | Comment!
  • Aug. 8, 2012, 11:08 AM
    Solar stocks outperform (TAN +1.4%) following MEMC's (WFR +18%) strong Q2 report. Revenue of $933.4M (+20% Y/Y and +78% Q/Q) blew past consensus by $184M, while non-GAAP EPS of $0.14 beat by $0.16. Also, MEMC is guiding for wafer revenue to grow 3%-8% Q/Q, which suggests a consensus for a 31% drop in total revenue will prove quite low. Between MEMC and First Solar, is there reason to think solar is finally bottoming? There's still a lot of bad news to go around. (PR)
    | Aug. 8, 2012, 11:08 AM | Comment!
  • Aug. 8, 2012, 10:01 AM
    Data for the construction of power generation facilities in H1 paints a stark picture of the ascendance of natural gas, with 3,708 MW gas-fired plants built, 2,367 MW of wind farms developed, and 1,608 MW of coal stations constructed. Gas provides 41.8% of U.S. electricity, coal 29.7%, nuclear 9.2%, water 8.7%, wind 4.3%, geothermal 0.3%, and solar 0.3%.
    | Aug. 8, 2012, 10:01 AM | Comment!
  • Aug. 8, 2012, 5:57 AM
    China's National Energy Administration increases its 2015 target for solar power capacity by 40% to 21 (GW) as lower costs and regulation helping to fuel growth in the sector. Stocks likely to benefit include Suntech Power (STP), LDK, ReneSola (SOL), JA Solar (JASO) and Yingli (YGE).
    | Aug. 8, 2012, 5:57 AM | Comment!
  • Aug. 7, 2012, 1:11 PM
    First Solar (FSLR +6%) jumps after the White House announces it will expedite seven solar and wind projects, including First Solar's Silver State South Nevada project. Wind turbine component maker American Superconductor (AMSC +7.6%) is also among the day's big winners. FSLR is now up 36% since it delivered a huge Q2 beat, but remains down sharply on the year.
    | Aug. 7, 2012, 1:11 PM | 6 Comments
  • Aug. 2, 2012, 11:18 AM
    First Solar (FSLR +24.5%) skyrockets after a strong Q2 report that featured improving margins and receivables. Four firms are upgrading - among them is Cantor, which is now more confident about FSLR's ability to transition to a construction-focused business model. However, Deutsche and Needham express worries about the profitability of construction deals, and ongoing weakness in sales for 3rd-party installations. 55.8% of FSLR's float was shorted as of July 13. (transcript)
    | Aug. 2, 2012, 11:18 AM | 3 Comments
KWT Description
Market Vectors Solar Energy ETF (the “Fund”) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors Global Solar Energy Index (the “Index”).
See more details on sponsor's website
Sector: Technology
Country: United States
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