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CSIQ

Canadian Solar Inc.

6/19/2013, 4:14 AM ET

Quote & Headlines Market Currents StockTalk

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Monday, June 17, 11:04 AM Chinese solar manufacturers react favorably to Beijing's introduction of "reformed methods" to support them. The methods include easier financing, electricity subsidies, and a requirement that utilities buy all the electricity solar plants create. The government has also reiterated its call for industry consolidation. In addition to Canadian Solar (CSIQ +10% - previous), winners include LDK (LDK +8.8%), Yingli (YGE +11.8%), Daqo (DQ +17%), Trina (TSL +7.4%), and JinkoSolar (JKS +8%). Yingli just struck a deal to help develop 3GW worth of solar plants in Southern China by 2016. Comment! [Tech, On the Move]
Monday, June 17, 10:13 AM Citing good execution and margin expansion, Nomura's Nitin Kumar hikes the price target on Canadian Solar (CSIQ +10%) just slightly from $6.90 to $25. Kumar changes CSIQ's peer group to "companies with significant project business" as the company's system business should "generate 50%-plus earnings [in FY13-15] vs. 13% in 2012." Kumar uses the new peer group's target price-to-book value for FY14 (and a 20% discount for "execution risks and higher interest rates") to arrive at the new PT. Comment! [Energy, On the Move]
Monday, June 10, 7:53 AM Canadian Solar (CSIQ) +6.3% premarket on news of an agreement to construct a 130 MW utility-scale solar power plant for Grand Renewable Solar, a solar energy project developed by Samsung Renewable Energy. CSIQ expects the deal will generate revenue of ~C$310M. Construction is set to begin in Q3, with facilities expected to be fully operational in 2015. Comment! [Tech, Energy, On the Move]
Wednesday, June 5, 11:41 AM Solar stocks see a bit of profit-taking after Goldman downgrades JA Solar (JASO -9.3%) and Trina (TSL -6%), and the EU officially announces Chinese module tariffs that will only total 11.8% for now, but could soar as high as 67.9% on Aug. 6 if a settlement isn't reached. Yingli (YGE -5.4%) states its tariff will rise to 37.3% on Aug. 6, which it claims is "the lowest rate" of all Chinese mobile vendors. Trina says its tariff will rise to 51.5%. LDK -5.2%. CSIQ -3.5%. JKS -3.2%. CSUN -4.1%. SOL -4.4%. FSLR -3.4%. CSIQ -3.5% in spite of its solar plant sales. Comment! [Tech, On the Move]
Wednesday, June 5, 8:27 AM France asks for a meeting of EU member states to establish a common position in the escalating trade dispute with China on the export of Chinese solar panels. Levies are due to take effect tomorrow at an initial rate of 11.8%; EU officials will delay for two months tariffs of as much as 67.9% to allow Chinese manufacturers to negotiate a settlement. (earlier) Comment! [Tech, Energy, Global & FX]
Wednesday, June 5, 8:03 AM Canadian Solar (CSIQ) sells four solar power plants to BluEarth Renewables for $217.2M. Construction on the facilities will begin this year with operations commencing in 2014. (PR) Comment! [Energy]
Friday, May 31, 4:21 PM Following a 270% Y/Y increase in installations in Q1, Japan is set to pass Germany in 2013 as the world's largest solar market in terms of revenue, says IHS iSuppli. The firm expects Japan, which saw huge subsidies arrive last summer, to account for 24% of industry revenue this year, up from 14% in 2012 and 9% in 2011. By contrast, European installations fell 34% Y/Y in Q1, lowering their global share to 40% from 70% a year ago. Canadian Solar (CSIQ) and JA Solar (JASO) both cited growing Japanese sales as a factor behind their Q1 beats (I, II), and SunPower (SPWR) has also been seeing Japanese sales grow. 1 Comment [Tech]
Wednesday, May 29, 9:10 AM Premarket gainers: STEI +35%. SFD +25%. BLDP +8%. SONS +7%. TFM +6%.
Losers: TSL -13%. CSIQ -6%. CHS -6%. Comment! [On the Move]
Tuesday, May 28, 12:45 PM Midday top 10 gainers: VRTB +23%. PIP +21%. LSE +20%. CSIQ +19%. HSOL +18%. HYGS +17%. BLDP +16%. OBCI +13%. SVA +14%. UACL +12%.
Midday top 10 Losers: ENOC -19%. FSGI -13%. RSOL -12%. OXBT -12%. HGSH -11%. BDL -10%. CLNT -10%. VIPS -9%. RPI -9%. ZIOP -9%. Comment! [On the Move]
Tuesday, May 28, 10:33 AM 2013's giant solar stock rally continues (TAN +3.9%) as the EU faces a backlash over Chinese tariff proposals, and Canadian Solar (CSIQ +15.2%) soundly beats Q1 estimates with the help of a 470 bps Q/Q increase in gross margin to 9.7%. Though CSIQ's opex would only have fallen 3% Y/Y if not for the reversal of a $30M arbitration award, it still fell 17% Q/Q (exc. one-time events) thanks to 25% Q/Q drop in selling expenses. Also: CSIQ is guiding for module shipments to rise to 380MW-410MW in Q2 from Q1's 340MW, and (like JA Solar) is seeing surging Japanese shipments - they rose 76% Q/Q in Q1, and made up 25% of total shipments. TSL +8.4%. JKS +4.6%. YGE +6.9%. LDK +4.8%. DQ +7%. SCTY +2.5%. Comment! [Tech, On the Move, Earnings]
Tuesday, May 28, 9:14 AM Premarket gainers: CSIQ +25%. PIP +21%. ROYL +17%. BGMD +11%. BLDP +11%. VRX +11%. SIGA +8%. TSL +8%. MAKO +8%. YGE +8%. CPST +8%. STSI +8%. HSOL +7%. ALU +7%. LDK +7%. JASO +7%. TIF +6%. Comment! [On the Move]
Tuesday, May 28, 8:14 AM Shares of Canadian Solar (CSIQ) roar 20.1% higher premarket after the company reports a narrower Q1 loss than forecast. The company was able to cut operating expenses by 80% during the quarter amid a weak market for solar panels. Comment! [Tech, On the Move]
Tuesday, May 28, 6:56 AM Canadian Solar (CSIQ): Q1 EPS of -$0.10 may not be comparable to consensus of $0.78. Revenue of $263.6M beats by $42.6M. (PR) Comment! [Breaking News, Earnings, Tech]
Tuesday, May 28, 12:05 AM Notable earnings before Tuesday's open: BNS, CSIQ, SDRL, TIF Comment! [Earnings]
Monday, May 27, 5:30 PM Notable earnings before Tuesday's open: BNS, CSIQ, SDRL,TIF Comment! [Earnings]
Tuesday, May 21, 9:21 AM Solar stocks took off in response to JA Solar's results yesterday, and they're surging premarket in response to Yingli's guidance hike today. Chalk it up to both heavy short interests, and growing optimism capacity cuts and rising non-European demand can put the troubled industry on more stable footing. Lux Research predicts solar's supply glut will evaporate, but not until 2015. TSL +9.1%. JASO +14.6%. LDK +9.8%. FSLR +1.6%. CSIQ +6.2%. JKS +6.5%. SOL +11.3%. Comment! [Tech, On the Move]

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