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Market Vectors Solar Energy ETF (KWT)

  • Dec. 28, 2012, 11:17 AM
    Solar stocks are rallying again, likely thanks to year-end short-covering (previous). LDK +9.2%. STP +6.8%. CSIQ +3.6%. GTAT +4.6%. YGE +4.7%.  MEMC (WFR +3.2%) is in the news: the company announced board members John Marren and William Stevens, each of whom have served for 11 years, are retiring (this should strengthen the hand of activist firm Atlai Capital), and that its SunEdison unit has sold 24MW of solar projects to Canadian Solar (CSIQ +3.6%).
    | Dec. 28, 2012, 11:17 AM | Comment!
  • Dec. 19, 2012, 10:14 AM
    Chinese solar stocks rally after the State Council says it wants to encourage solar M&A activity in a bid to reform the struggling industry. The council adds it wants to reduce government support (previous), and suggests it's willing to let companies go bankrupt. Consolidation, something Beijing has long hinted it would support, would help the industry address its huge overcapacity problem, and perhaps also foreign anti-dumping complaints. LDK +11.1%. YGE +9.3%. JASO +3.3%. CSIQ +6.5%. TSL +5.5%. JKS +4.5%. STP +7.5%.
    | Dec. 19, 2012, 10:14 AM | Comment!
  • Dec. 13, 2012, 3:02 PM
    After surging yesterday on news that China's government would double its spending on the industry, Chinese solar stocks are suffering the hangover today: CSUN -10.3%, JASO -5.4%, STP -5.4%, JKS -4.6%, LDK -4.1%, SPWR -4.1%, TSL -1.6%, YGE -0.5%. These companies are still far from being profitable - and what the government giveth, the government can taketh away.
    | Dec. 13, 2012, 3:02 PM | 5 Comments
  • Dec. 12, 2012, 11:28 AM
    Debt-laden, cash-burning LDK Solar (LDK +16.3%) says it has "entered into discussions with certain creditors to obtain additional flexibility," and has hired Citi to assist in the process. Shares were already posting huge gains prior to the announcement, fueled by reports the Chinese government is ramping its solar subsidies and installation targets. Other big winners: TSL +15.8%. YGE +17.1%. JASO +13.2%. SOL +12%. STP +7.9%. JKS +11.2% - previous. U.S. vendors First Solar (FSLR +4.1%) and SunPower (SPWR +6.2%) are also higher. (LDK's Q4 guidance)
    | Dec. 12, 2012, 11:28 AM | Comment!
  • Dec. 12, 2012, 8:49 AM
    Solar stocks (TAN, KWT) are on watch following reports China's government allocated 13B yuan ($2B) this year for domestic solar companies and may double its target for solar installations. The moves throw a lifeline to the biggest solar panel manufacturers and their suppliers after a glut of manufacturing capacity depressed prices and profits worldwide.
    | Dec. 12, 2012, 8:49 AM | 1 Comment
  • Dec. 11, 2012, 5:01 PM
    Begun, the solar trade wars have. The Chinese government has reportedly made a preliminary decision to impose tariffs of 30%-50% on U.S., European, and South Korean solar polysilicon imports as of Q1. China recently launched a probe on the matter following the U.S. ITC's imposition of tariffs on Chinese solar module imports on anti-dumping grounds, and the start of an EU investigation that could lead to the same. MEMC (WFR) is a major U.S.-based polysilicon supplier. (price declines)
    | Dec. 11, 2012, 5:01 PM | 2 Comments
  • Dec. 7, 2012, 6:27 PM
    Prices for just about anything solar-related continue to tumble. Digitimes reports the average price of cells with "mid-range" (16.2%-16.6%) efficiency has fallen to just $0.25-$0.30/watt - cell prices were around $0.48/watt at the beginning of Q3. Meanwhile, polysilicon contract prices have fallen to $17-$18/kg from $20/kg in Q3, putting it further below the variable cost of Western producers. The troubled industry received a piece of good news this week courtesy of the Indian government, which has set a goal of building 9GW of plants by 2017.
    | Dec. 7, 2012, 6:27 PM | 4 Comments
  • Nov. 28, 2012, 11:14 AM
    A relief rally or a dead-cat bounce? Depressed Chinese solar stocks are up after Yingli (YGE +11.2%) and JA Solar (JASO +6.8%) delivered better-than-feared results (I, II) and guidance. Trina (TSL +12.9%), LDK Solar (LDK +6.2%), and misnamed Canadian Solar (CSIQ +5.9%) are among the winners. A Reuters column today notes Chinese vendors are increasingly counting on domestic sales (boosted by subsidies) to drive growth, as they cope with anti-dumping tariffs in the U.S. and perhaps soon Europe.
    | Nov. 28, 2012, 11:14 AM | 2 Comments
  • Nov. 26, 2012, 3:50 PM
    Germany is seeing a rush of large-scale solar installations amidst fears subsidies for such projects will vanish in 2013, as the government tries to shift activity towards rooftop installations. 81% of September German installations reportedly featured capacities greater than 1MW. A dropoff in demand for large-scale projects would hurt First Solar (FSLR), whose low-cost, low-efficiency modules are best suited for installations where space isn't at a premium. (also)
    | Nov. 26, 2012, 3:50 PM | Comment!
  • Nov. 26, 2012, 2:32 PM
    Chinese solar polysilicon demand fell 34% in October, claims UBS; IHS iSuppli estimated last week polysilicon spot prices fell 9% on the month. Moreover, UBS expects polysilicon demand to remain weak in Q4 due to poor visibility for 1H solar module sales. Given the latest earnings reports from module vendors (I, II), it's hard to argue with that assessment.
    | Nov. 26, 2012, 2:32 PM | Comment!
  • Nov. 16, 2012, 10:23 AM
    The solar industry's bad earnings news won't let up. Yingli (YGE -8.3%) is the latest culprit, warning it expects to report a 17% Q/Q drop for Q3 module shipments on Nov. 28, something that doubtlessly means Yingli's prior guidance for a 31%-37% Y/Y increase in 2012 shipments won't hold. Gross margin is expected to total just 0%-1% if one doesn't include the reversal of a provision related to the ITC's anti-dumping duties, and -22% to -24% if one does. Solar stocks are selling off again (TAN -3%), capping off a brutal week. (Canadian Solar)
    | Nov. 16, 2012, 10:23 AM | Comment!
  • Nov. 15, 2012, 1:55 PM
    It's still no fun to be a solar manufacturer. Canadian Solar (CSIQ -14%) is seeing huge losses following its big Q3 miss, which is contributing to yet another sector rout (TAN -3.6%). Canadian's gross margin fell to a mere 2.2%, and would likely have been negative if not for its efforts (similar to those of peers) to expand into plant construction. The company expects to ship 380MW-420MW of modules in Q4, compared with 384MW in Q3, and record a gross margin of 1%-3%. (yesterday) (transcript)
    | Nov. 15, 2012, 1:55 PM | 2 Comments
  • Nov. 14, 2012, 4:03 PM
    Solar stocks close with big losses (TAN -4.3%) on a bad day for high-beta tech firms not named Facebook. Trina (TSL -18.3%) is now down 27% since slashing guidance on Monday morning. STP -11.9%. LDK -7.5%. SPWR -6.7%. CSIQ -9.2%. (LDK deal termination)
    | Nov. 14, 2012, 4:03 PM | 2 Comments
  • Nov. 12, 2012, 3:01 PM
    Solar stocks advance as China says it is taking new applications from regional governments looking for solar project subsidies. Talk of a government bailout gives these shares a reprieve, but how long it lasts is another story as many analysts think the industry needs more than this type of bailout. LDK +16.6%, STP +6.5%, YGE +3.7%, FSLR +3%.
    | Nov. 12, 2012, 3:01 PM | Comment!
  • Nov. 9, 2012, 2:42 PM
    First Solar (FSLR +2.9%) and SunPower (SPWR +3.6%) continue to have a good week. Hopes are up that Pres. Obama's re-election will mean the DOE's strong financial support for U.S. solar projects will remain in place. MEMC (WFR +3.8%) is also rallying. (previous)
    | Nov. 9, 2012, 2:42 PM | 2 Comments
  • Nov. 8, 2012, 5:17 AM
    The ITC yesterday voted 6-0 that U.S. solar-panel manufacturers have been harmed by illegal dumping from their Chinese rivals, opening the way for the Commerce Department to impose tariffs. The department has said these will mainly be 24%-36%, although some face duties of up to 250%. North American firms in focus: SPWR, FSLR, CSIQ, WFR. China: JASO, CSUN, STP, SOLR, SOL, YGE, LDK, CSUN
    | Nov. 8, 2012, 5:17 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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