Market Vectors Solar Energy ETF
 (KWT)

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  • Jan. 8, 2013, 2:26 PM

    Solar stocks are rebounding from yesterday's drubbing after a Chinese government official states the country wants to add 10GW of solar capacity this year, after growing its base by 4GW in 2012 to 7GW. However, skepticism exists about the government's ability to achieve this goal, given financing challenges. Last month, the government announced it wanted to encourage solar M&A activity and reduce its support for the industry. LDK +9%. YGE +6.5%. TSL +8.3%. SPWR +7.4%. JASO +6.9%. (previous)

    | Jan. 8, 2013, 2:26 PM | 1 Comment
  • Jan. 7, 2013, 12:36 PM

    Many solar stocks have plunged after rallying strongly last week (likely thanks to short-covering). Among the big losers: FSLR -6.7%. SPWR -9.1%. STP -13.9%. LDK -9.8%. CSUN -8%. SA's Richard Pearson offered a detailed bear argument for Trina (TSL -2.8%) today: he estimates the company has $14B in off-balance-sheet liabilities related to polysilicon purchase deals, and thinks it could become insolvent in 2013 thanks to its cash burn and $800M in near-term debt maturities. On a positive note, the French government has unveiled new solar subsidies. (Gordon Johnson)

    | Jan. 7, 2013, 12:36 PM | 1 Comment
  • Jan. 5, 2013, 9:45 AM

    A prescient seller of solar years ago, Gordon Johnson is more bearish now than he's ever been - even with most of the stocks trading at fractions of their old values. China alone has far more panel production capacity than the world needs, and it's still adding more thanks to the government propping up these cash-flow burners. U.S. government policy is equally perverse. Top sells: FSLR, YGE, TSL, STP, ASYS.

    | Jan. 5, 2013, 9:45 AM | 43 Comments
  • Jan. 4, 2013, 8:09 AM

    First Solar is cut to Sell at Raymond James, with analyst Pavel Molchanov calling the recent big move in the stock (and solar overall) "another solar junk rally." It's a carbon copy of last year's surge around this time, he says. "Here is how that movie ended: The index ended down 33% for the year." FSLR -3.3% premarket.

    | Jan. 4, 2013, 8:09 AM | 4 Comments
  • Jan. 3, 2013, 11:14 AM

    Solar stocks rack up a second straight day of big gains following Berkshire's $2B-$2.5B purchase of SunPower's (SPWR +29.8%) Antelope Valley projects and Lazard's subsequent upgrade. First Solar (FSLR +6.5%) enjoys an upgrade too, but it's faint praise; S&P Capital IQ lifts FSLR to Sell from Strong Sell. TSL +16.7%, STP +10.6%, LDK +14.5%, YGE +11.3%.

    | Jan. 3, 2013, 11:14 AM
  • Jan. 3, 2013, 5:22 AM

    Berkshire Hathaway (BRK.A) unit MidAmerican Energy is paying $2-2.5B for two solar projects that it's buying in California from SunPower (SPWR), which is also receiving a three-year contract to build them, and a multi-year deal to operate and maintain them. SunPower closed +9.1% yesterday following news of the deal. The acquisition is Warren Buffett's third major solar PV deal in a year.

    | Jan. 3, 2013, 5:22 AM | 1 Comment
  • Jan. 2, 2013, 1:33 PM

    Solar stocks are outperforming once more today (TAN +4.2%). Short-covering and a general migration to risk assets are helping, and so might a fresh solar project purchase from Berkshire Hathaway's MidAmerican Energy (previous). Some of the big winners: LDK +9.7%. SPWR +7.7%. GTAT +7.3%. STP +7.1%.

    | Jan. 2, 2013, 1:33 PM | 2 Comments
  • 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
  • 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
  • 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
  • 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
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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