Tue, May 12, 3:12 PM
- Today's notable tech gainers include insurance software/data exchange provider Ebix (EBIX +5%), Chinese polysilicon maker Daqo (DQ +6.9%), networking SRAM maker MoSys (MOSY +7.7%), enterprise mobility management software firm MobileIron (MOBL +6.3%), U.S. solar installer Solar3D (SLTD +4.3%), and Korean analog/mixed-signal chipmaker MagnaChip (MX +5.3%).
- Notable decliners include Chinese online retailers JD.com (JD -4.4%) and Vipshop (VIPS -5%), Chinese Internet mini-conglomerate Qihoo (QIHU -4.6%), and cloud online learning software provider 2U (TWOU -5.6%). The Nasdaq is down 0.2%.
- Daqo is now up 11% since last Friday's mixed Q1 report. Ebix is up 18% since delivering a Q1 beat last Friday. MobileIron's gains come after the company named well-traveled tech vet Simon Biddiscombe its interim CFO. Solar3D is rallying after issuing a PR that sings the praises a of an upbeat Bernstein report on solar cost declines.
- Qihoo and JD are more than reversing the Monday gains seen amid a Chinese Internet stock rally. 2U has now fully given back the gains seen last week following its Q1 beat.
- Previously covered: Rackspace, Everyday Health, magicJack, WidePoint, LivePerson, YY, STMicroelectronics, ChipMOS, iDreamSky, Leidos, Photronics
Mon, May 11, 3:02 PM
- Canadian Solar (CSIQ +5.3%) and SolarEdge (SEDG +11.3%) are adding to their big Friday gains on a quiet day for tech. ReneSola (SOL +10%), Daqo (DQ +4.9%), Enphase (ENPH +2.8%), and JinkoSolar (JKS +2.2%) are also doing well. An overnight rally in Shanghai (followed a fresh PBOC rate cut) could be helping the Chinese names.
- Canadian is up 14% since Thursday morning's Q1 report (I, II). SolarEdge is up 32% since delivering very strong results/guidance on Thursday afternoon, making new post-IPO highs along the way. Daqo is more than erasing the Friday losses seen following the company's mixed Q1 results.
- A bullish SA PRO column on SolarEdge from Casual Analyst came out of embargo over the weekend. Among other things, the author argues SolarEdge's power optimizer/inverter-based systems are superior to Enphase's microinverter-based systems on a cost basis (though Enphase has an edge in simplicity), that SolarEdge's architecture has lower maintenance costs, and that the architecture is well-suited for integrating module-level power electronics.
Fri, May 8, 5:40 AM
Fri, May 1, 7:04 AM| Comment!
Mon, Apr. 20, 12:48 PM
- China connected 5.04GW of solar capacity (nearly equal to France's) in Q1, the National Energy Administration reports. The figure brings China's cumulative installations to 33GW, and suggests the country is on its way to hitting a full-year target of 17.8GW.
- Utility-scale projects accounted for 4.38GW of the installations, and 1.1GW of capacity was installed in northwestern Xinjiang province. The fact China isn't setting specific 2015 targets for utility and distributed installations (not the case in 2014) has widely been expected to make the full-year target easier to hit.
- Chinese solar firms are delivering a mixed performance following the announcement. ReneSola (SOL +5.6%), JinkoSolar (JKS +2.9%), and Trina (TSL +2.4%) are outperforming (the Nasdaq is up 1.2%), Canadian Solar (CSIQ +1.2% - has healthy Chinese exposure) and JA Solar (JASO +1%) are up moderately, and Yingli (YGE -1.5%) and Daqo (DQ -5.2%) are lower.
- Yingli announced this morning it's developing a 50MW solar plant in China's Hebei province, and has received RMB300M ($48M) in financing for it. Construction and grid interconnection is expected to be finished by the end of May.
- A week ago: Chinese solars up strongly after Shanghai rallies, RBC makes bull case
Mon, Apr. 13, 12:17 PM
- Chinese solar stocks are among today's standouts after Shanghai rose 2.2% and Hong Kong rose 2.7% overnight, continuing recent rallies. U.S. solar firms are largely missing out on the fun.
- ReneSola (SOL +13%) is today's biggest gainer. Yingli (YGE +6.2%), JA Solar (JASO +3.2%), Trina (TSL +3.4%), Daqo (DQ +2.7%), and China Sunergy (CSUN +5.6%) are also faring well, as is China-exposed Canadian Solar (CSIQ +2.4%).
- An upbeat RBC note could be helping the group: The firm notes there haven't been any Q1 warnings yet - Trina and Yingli warned a year ago - and that Beijing's 17.8GW 2015 installation target is generally seen as reasonable. It adds European and Japanese solar demand remains healthy, and thinks recent gross margin pressures will abate as ASPs stabilize and cost reductions continue.
- RBC sees Trina outperforming its peers "given its capacity expansion plan, strong balance sheet, and downstream business ramp." Earlier today, the company announced a deal to supply 116MW of modules for a 231MW Japanese project.
- Daqo is now up 11% since posting mixed Q4 results and offering an upbeat 2015 outlook on Friday morning.
- Update: Bernstein is also out with a bullish note: The firm expects the solar module market to continue consolidating, and for larger firms to take more share from smaller rivals.
Fri, Apr. 10, 6:00 PM
- With China having recently hiked its 2015 solar installation target by 2.8GW to 17.8GW (up from 2014's 14GW), Daqo (NYSE:DQ) thinks "the supply and demand of polysilicon will remain in balance" this year, even though some new capacity might go online.
- The company reiterates its plans to hike its annual polysilicon capacity from 6,150 MT to 12,150 MT by the end of June, and in doing so cut its total production cost to $12/kg (it was at $13.23/kg in Q4). Daqo is also carrying out "early research" for an expansion of its Xinjiang facilities that would bring total capacity up to 25,000 MT.
- Q4 polysilicon shipments totaled 1,537 MT, down slightly from Q3's 1,598 MT but up from Q4 2013's 1,271 MT. Wafer shipments totaled 17.8M pieces vs. 18.5M in Q3 and 16.7M a year ago. Ahead of the capacity ramp, Daqo expects to report Q1 polysilicon shipments of 1,500 MT and wafer shipments of 17.5M-18M.
- With the help of better prices, polysilicon revenue rose 40% Y/Y to $33.8M, and wafer revenue 43% to $15.7M. Gross margin (non-GAAP) rose to 32.1% from Q3's 31.7% and Q4 2013's 18.5%. Operating expenses fell by ~$600K Y/Y to $4.95M. Daqo ended 2014 with $29.2M in cash and $237.1M in borrowings.
- Shares rose to $29.20 in regular trading. They haven't topped $30 since December.
- Q4 results, PR
Fri, Apr. 10, 6:08 AM
Wed, Mar. 25, 3:41 PM
- A day after posting fresh gains while broader equity markets barely moved, solar stocks are posting steep losses (TAN -4%) amid a 2.2% drop for the Nasdaq.
- Hurting the group's cause: Yingli (down 14.7%) posted a Q4 miss this morning in spite of topping its solar module shipment guidance. ASP declines and a weak euro/yen weighed on the company's top line.
- Chinese firms ReneSola (SOL -7.5%), Daqo (DQ -5.7%), Trina (TSL -4.1%), and JinkoSolar (JKS -3.5%) are among the major decliners. But so are North American firms First Solar (FSLR -3.5%), SunEdison (SUNE -4.2%), Vivint (VSLR -3.8%), and Canadian Solar (CSIQ -3.2%).
- SunEdison announced today it plans to buy 1K vanadium flow batteries (good for over 100MWh) from Imergy Power Systems to store solar electricity produced by Indian minigrid projects. Along with the move, SunEdison is upping its equity stake in Imergy. The move comes shortly after SunEdison announced it's entering the solar/wind battery storage market itself by acquiring assets from private Solar Grid Storage.
Tue, Mar. 24, 2:24 PM
- Buoyed this year by decent Q4 numbers, solid 2015 guidance, and YieldCo news, solar stocks are adding to their gains today even as the Nasdaq barely budges. The Guggenheim Solar ETF (TAN +0.7%) is up 35% YTD and nearing a 52-week high of $47.00.
- Chinese firms are adding to last week's gains - JinkoSolar (JKS +3.7%), ReneSola (SOL +3.3%), Daqo (DQ +4.8%), Trina (TSL +1.9%), JA Solar (JASO +2.7%), and China Sunergy (CSUN +12.5%) stand out. Beijing recently hiked its 2015 solar installation target by 2.8GW to 17.8GW (up from 2014's 14GW), while setting no specific targets for utility vs. distributed solar installations. The lack of utility/distributed targets is expected to make the goal easier to hit.
- U.S. names aren't getting left out: First Solar (FSLR +3.5%) and SolarCity (SCTY +2.1%) are rallying, as are microcaps RGS Energy (RGSE +6.5%) and Solar3D (SLTD +12.7%). Solar3D, a California installer, has risen 58% over the last 4 trading days.
Fri, Mar. 20, 3:02 PM
- With the Nasdaq up 0.9% (and nearing its March 2000 highs) amid a market rally, major tech gainers are easily outnumbering major decliners.
- Following a 1.4% overnight rally in Shanghai, strong Q1 guidance from Ctrip, and a report that Sohu/Tencent's Sogou search engine is planning an IPO, a slew of Chinese tech names are posting big gains. Aside from Ctrip and Sohu, notable gainers include search/browser/security app provider Qihoo (QIHU +4.9%), sports lottery site 500.com (WBAI +12.5%), auto sites Bitauto (BITA +4.2%) and Autohome (ATHM +4.9%), online retailer Vipshop (VIPS +4.7%), data center owner 21Vianet (VNET +6.7%), polysilicon maker Daqo (DQ +6.5%), and chat/dating app owner Momo (MOMO +4.6%).
- Other standouts include optical component vendor Oclaro (OCLR +9.6%), U.S. solar installer Solar3D (SLTD +10%), NFC reader maker On Track (OTIV +10.5%), printer maker Lexmark (LXK +3.7%), and big data/analytics software provider Hortonworks (HDP +10.2%).
- Notable decliners include VoIP hardware/software provider Sonus (SONS -6.1%), solar microinverter leader Enphase (ENPH -4.2%), and authentication hardware/software provider Vasco (VDSI -5.7%).
- Qihoo is adding to Wednesday's gains, while 500.com and 21Vianet are erasing recent losses. On Track is now up 21% over the last two days. Solar3D is adding to the gains seen yesterday following a contract announcement. Vasco had rallied strongly this week before today.
- Previously covered: Ambarella, Spherix, Envivio, Youku, Viggle, Castlight/Benefitfocus, Care.com, Ultra Clean, InterCloud, Perceptron, Violin Memory, Amtech
Tue, Mar. 17, 11:02 AM
- Chinese solars, many of which remain sharply below their 52-week highs, are among the standouts on a morning in which the Nasdaq is off 0.2%.
- JinkoSolar (JKS +2.8%), which was down premarket following news of a fire at one of its plants, is among the gainers. As are JA Solar (JASO +3.3%), Daqo (DQ +5.3%), Yingli (YGE +7.1%), ReneSola (SOL +6.9%), Trina (TSL +5.6%), and China Sunergy (CSUN +2.1%). Canadian Solar (CSIQ +3.1%), which has extensive Chinese manufacturing ops, is also rallying.
- The gains come as WTI crude oil continues trading near $43/barrel. The Q4 results and full-year guidance provided by solar firms in February and March suggest oil (responsible for only a small % of global electricity output) isn't having a big near-term impact on solar investments.
Tue, Mar. 10, 3:10 PM
- With the Nasdaq down 1.4%, a long list of tech names are posting major declines. Meanwhile, only a handful of tech companies are up more than 2%.
- Notable decliners include hard drive giant Seagate (STX -4.4%), VoIP service/app provider magicJack (CALL -5.6%), telecom equipment maker Comtech (CMTL -8.8%), flash controller IC vendor Silicon Motion (SIMO -5.2%), Wi-Fi hardware vendor Ruckus (RKUS -8.7%), online ad retargeting platform Criteo (CRTO -5.1%), haptic tech developer Immersion (IMMR -6.4%), supercomputer maker Cray (CRAY -4.6%), online coupon code provider RetailMeNot (SALE -5.5%), and solar plays JinkoSolar (JKS -5.6%), Daqo (DQ -9.8%), and Enphase (ENPH -8.9%).
- Immersion has more than given back the Monday gains it saw after Apple, which relies on a proprietary haptic solution that some think infringes on Immersion's IP, unveiled a 12" retina MacBook with a pressure-sensitive trackpad. Solar stocks are reversing course after rallying in recent weeks with the help of good earnings news and YieldCo hopes.
- Previously covered: Cybersecurity stocks, Canadian Solar/ReneSola, Qihoo, Electronic Arts
- Notable gainers: Nvidia, MicroVision, Energous, Weibo
Tue, Mar. 3, 3:07 PM
- With the Nasdaq down 0.6%, the number of tech companies posting outsized declines easily surpasses the number posting significant gains.
- Chinese firms are well-represented on the ranks of notable decliners. In addition to Alibaba, the list includes CDN owner ChinaCache (CCIH -4.6%), mobile app developer Cheetah Mobile (CMCM -9.8%), solar module vendor Yingli (YGE -4%), polysilicon provider Daqo (DQ -5.1%), real estate sites SouFun (SFUN -4.5%) and Leju (LEJU -4.3%), and data center owner 21Vianet (VNET -2.9%).
- Other decliners include chip equipment giant Applied Materials (AMAT -4.2%), seismic tech provider Geospace (GEOS -4.9%), VoIP infrastructure hardware/software firm Sonus (SONS -4.7%), IT services firm WidePoint (WYY -3.7%), auto site TrueCar (TRUE -7.4%), and online grocery coupon provider Coupons.com (COUP -5.2%).
- SouFun fell hard yesterday following news 58.com is buying real estate site Anjuke. Many Chinese tech firms sold off last Friday as the yuan made 3-year lows against the dollar.
- Previously covered: Seagate/Western Digital, Micron, Overstock
- Notable gainers: Veeva, Gogo, Vringo, Finjan, Aviat
Mon, Mar. 2, 12:49 PM
Fri, Feb. 27, 2:59 PM
- Today's notable tech gainers include IP licensing firm VirnetX (VHC +8.1%), ultracapacitor maker Maxwell (MXWL +4.7%), local services marketplace Angie's List (ANGI +5.9%), voice processor developer Audience (ADNC +5.4%), Ethernet/Wi-Fi hardware maker Extreme Networks (EXTR +3.5%), Chinese polysilicon vendor Daqo (DQ +8.3%), Chinese mobile game published Sky-mobi (MOBI +9.8%), professional video hardware/software maker Avid (AVID +5.2%), and optical component vendors NeoPhotonics (NPTN +11%) and Oclaro (OCLR +5.2%).
- Notable decliners include cloud HR/financials software leader Workday (WDAY -3.5%), cloud IT service desk software leader ServiceNow (NOW -3.7%), industrial laser maker IPG Photonics (IPGP -3.1%), FPGA/mobile sensor hub maker QuickLogic (QUIK -4.5%), and NAND controller/4G transceiver vendor Silicon Motion (SIMO -4%). The Nasdaq is down 0.5%.
- Initially up post-earnings, Workday is now down 9% since beating FQ4 revenue estimates and offering in-line FY16 revenue guidance on Wednesday afternoon. Heavily-shorted VirnetX is up 33% since announcing on Feb. 18 the USPTO had denied five Apple patent review petitions. Maxwell (also heavily shorted) is up 17% since an insider buy was disclosed a week ago. Sky-mobi is up 20% since Rosenblatt Securities provided bullish coverage yesterday.
- Previously covered: Chinese Web/mobile stocks, SanDisk, Autobytel, DigitalGlobe, GoPro, Immersion, MoSys, Resonant, Infoblox, Aruba, UniPixel, Autodesk, Universal Display, TubeMogul, Nimble Storage
DQ vs. ETF Alternatives
Daqo New Energy Corp is polysilicon manufacturer based in China. The Company manufactures and sells polysilicon to photovoltaic product manufacturers, who further process its polysilicon into ingots, wafers, cells and modules for solar power solutions.
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