Apr. 28, 2014, 2:15 PM
- The latest rout in once-high-flying tech momentum plays isn't leaving solar stocks unscathed. The Guggenheim Solar ETF (TAN -6.2%) is now down 21% from its March 7 high of $51.07.
- Likely adding fuel to the fire: Credit Suisse has slashed its 2014 Chinese solar installation forecast by 500MW to 11.5GW, soundly below the government's 14GW target (set in February). CS thinks policy changes related to utility-scale projects, feed-in tariff reimbursement, and distributed solar incentives are needed for investment to pick up.
- The firm adds JinkoSolar (JKS -10.8%), Trina (TSL -12.2%), and Canadian Solar (CSIQ -12.8%) are well-positioned to profit from downstream projects, given they have access to financing from the China Development Bank and other sources. On the other hand, it thinks Yingli (YGE -4.1%) and ReneSola (SOL -8.8%) are "less likely to access project capital due to their strained balance sheets." Yingli recently priced a stock offering expected to yield $83M in net proceeds.
- Other decliners: FSLR -5.3%. SCTY -7.1%. SUNE -6.8%. CSUN -9.8%. JASO -9.4%. DQ -9.3%. HSOL -5.9%. SPWR -5.1%.
Apr. 22, 2014, 3:56 PM
- Solar stocks are among the biggest winners (TAN +5.2%) on a good day for momentum stocks.
- SunEdison (SUNE +11.6%) is leading the pack after David Einhorn disclosed he has added to the position he started in Q4, and predicted lower solar costs and rising electricity prices should make the company a "winner." Einhorn is less crazy about tech momentum plays in general.
- Meanwhile, Canadian Solar is benefiting from a Japanese module deal, and SunPower (SPWR +6.5%) and SolarCity (SCTY +6.4%) are getting a lift from a Goldman note calling the companies its two best solar ideas. SunPower reports on Thursday.
- Other notable gainers: YGE +7.9%. DQ +9.2%. JKS +7.4%. SOL +6.8%. HSOL +6.7%. ENPH +6.2%. JASO +4.5%.
Apr. 16, 2014, 9:43 AM
- The U.S. Energy Department plans to offer up to $4B in loan guarantees to renewable energy projects, focusing on advanced electric grid technology and storage, biofuels that can be used in conventional vehicles, energy from waste products and energy efficiency improvements.
- Despite the high-profile collapse of Solyndra, the Obama administration believes most of its energy investments have done well, and it credits the program with strengthening the U.S. solar industry.
- Solar stocks: TAN, JASO, SPWR, TSL, FSLR, LDK, CSIQ, YGE, SOL, JKS, CSUN, SCTY, HSOL, EMKR, SUNE, DQ.
- Battery related names: PLUG, BLDP, CBAK, ZBB, ABAT, ULBI, ENS, HPJ.
- EV cars: TSLA.
Apr. 15, 2014, 11:53 AM
Mar. 17, 2014, 1:35 PM
- JA Solar's blowout Q4 numbers and strong guidance have fueled another solar stock rally. The Guggenheim Solar ETF (TAN +3.5%) is up sharply after witnessing a 10% drop from its March 7 peak.
- First Solar (FSLR +4.5%) is the group's biggest winner: The company announced today it has completed a 1.3MW plant in the Japanese city of Kitakyushu-shi. The company first disclosed the relatively modest project in November, ten days after announcing a reseller deal with oil giant JX Nippon to target the fast-growing Japanese solar market.
- Other gainers: YGE +3.6%. SOL +3.4%. CSIQ +3%. TSL +3%. HSOL +2.8%.
Mar. 13, 2014, 12:48 PM
Mar. 13, 2014, 9:17 AM
Mar. 13, 2014, 6:38 AM
Mar. 10, 2014, 3:57 PM
- Chinese Internet and solar names, many of them among the standouts of the 2013/2014 tech rally, are heading into the close with steep losses after the Chinese government reported exports fell 18.1% Y/Y in February (much worse than expected).
- Internet decliners: WUBA -10.7%. YOKU -7.3%. ATHM -7.2%. QUNR -6.4%. NQ -6%. RENN -5.2%. CTRP -5.2%. YY -4.4%. WBAI -4.4%. KONG -5.5%.
- Solar decliners: JKS -6.3%. YGE -5.8%. TSL -6.7%. CSUN -4.9%. CSIQ -4.5%. DQ -4.2%. HSOL -4.5%.
- Solar ETFs: KWT, TAN
Jan. 23, 2014, 9:59 AM
- SEC administrative law judge Cameron Elliot has barred the Chinese units of the Big-4 accounting firms - KPMG, Deloitte, PwC, and Ernst & Young - from auditing U.S.-listed companies for six months.
- Elliot declares the accounting firms "willfully" chose to withhold audit work papers from U.S. regulators for Chinese companies being investigated for accounted fraud. The firms have been worried about violating Chinese privacy laws by turning over the papers, and have argued the dispute needs to be resolved politically.
- Though the firms plan to appeal and say they can continue serving Chinese clients for now, shares of Chinese Web and solar names aren't handling the news well. Soft Chinese PMI data could be worsening matters.
- Chinese Web decliners: BIDU -2.5%. SOHU -3.2%. DANG -8.9%. SFUN -8.5%. PWRD -8.5%. QUNR -7.1%. LITB -6.5%. YY -6.1%. WUBA -6%. BITA -5.4%. EJ -5.9%. SINA -4.6%. LITB -6.5%. CTRP -5.4%. NQ -7.1%.
- Chinese solar decliners: TSL -8.7%. JASO -6.9%. SOL -6.3%. JKS -5.6%. CSIQ -5.4%. DQ -4.6%. YGE -5.6%. CSUN -6.2%. HSOL -7.8%.
- Qihoo (QIHU -4.6%) has joined the selloff in spite of a BrightWire report stating Alibaba (ABABA) has reached a deal to acquire a stake in the company. Marbridge Consulting reported two weeks ago Qihoo and Alibaba were in talks about a possible investment.
Jan. 15, 2014, 4:58 PM
- Hanwha (HSOL +3.1%) has signed an MOU with Chinese investment firm HTR to target downstream (solar plant) opportunities within China, with the help of an existing JV involving HTR and a state-owned utility. (PR)
- As part of the deal, Hanwha and HTR will create a JV to build solar plants, and HTR will either use Hanwha's modules or its engineering, procurement, and construction (EPC) services in 700MW worth of solar plant projects.
- Much like their U.S. peers, Chinese solar module vendors are trying to grow their downstream exposure, given the business continues to carry much higher margins than cell/module sales.
Jan. 9, 2014, 9:22 AM
- Hanwha (HSOL) is supplying 20.5MW of solar modules to a subsidiary of Germany solar plant builder vogt for use in a major U.K. solar park. Deliveries started in December, and are expected to be finished in Q1. (PR)
- Hanwha has been busy in Europe lately: The company announced a deal with a Belgian firm for a U.K. project last week, and a Portuguese solar park deal in November. The company also recently signed an MOU to supply 150MW of modules for a Chinese solar project.
Jan. 7, 2014, 1:05 PM
- Solar stocks started 2014 with a bang, and are adding to their momentum today (TAN +4%) with the help of positive industry and company-specific news.
- The Chinese government, which last year set a 35GW 2015 cumulative installation target, is now promising additional support, and says it will draft guidelines for industry M&A. Consolidation with China's fragmented solar cell/module market could both lower overcapacity (already declining thanks to rising demand) and lead to further margin expansion.
- Yingli (YGE +8.7%) and Canadian Solar (CSIQ +7.4%), both of which saw huge 2013 gains, are today's biggest gainers. Yingli has announced it's forming a JV with state-owned China National Nuclear Corp. to create 500MW of utility-scale solar projects. Canadian has announced a deal to supply 25.3MW of modules for four North Carolina projects.
- Also: Hanwha (HSOL +4.6%) has signed an MOU to supply up to 50MW of modules to U.S. residential solar installer OneRoof Energy.
- Other gainers: FSLR +2.7% (hit by a Goldman downgrade yesterday). SUNE +4.4%. DQ +4.9%. CSUN +3.2%. JASO +5.5%. ENPH +6.8%. ASTI +3.8%. JKS +3%.
Jan. 2, 2014, 7:52 AM
- Hanwha SolarOne (HSOL) +7.2% premarket on news it will supply 11.5 MW of high quality solar modules to Ikaros Solar Belgium NV.
- Ikaros, which operates as a project planner and wholesaler and is active in both large-scale and rooftop segments, plans to install the modules in a solar park in Norfolk County, U.K.
Dec. 30, 2013, 12:56 PM
- Solar stocks aren't getting left out on a day that's seeing a number of heavily-shorted names shoot higher (see NQ Mobile and InvenSense). With one trading day left in the year, the Guggenheim Solar ETF (TAN +2.5%) is up 128% YTD.
- China Sunergy (CSUN +15.5%) is today's biggest winner: The company announced this morning it has completed the sale of a 5MW U.K. solar project to a local firm.
- Trina Solar and Real Goods Solar, each of which announced new solar project deals, are also posting solid gains. As is ReneSola (SOL +3%), which announced it has signed a memorandum of intent to sell 60MW worth of Chinese solar projects.
- Also rallying: DQ +8.2%. JASO +6.5%. SPWR +2.8%. HSOL +6.3%. CSIQ +4.6%. JKS +4%. YGE +6.3%. STP +2.3%. ENPH +4.9%.
Dec. 23, 2013, 11:25 AM
- Hanwha (HSOL -3%) announces Yinzhang Gu, 74, is no longer on the company's board. Gu, a board member since '07, spent 36 years working for a government agency responsible for handling electricity supply in Eastern China. (PR)
- Hanwha has also extended chairman/CEO Ki-Joon Hong's term as chairman until Dec. 2015, provided a successor isn't elected/qualified first. Hong, 62, has been chairman since 2010 and CEO since 2011.
- Though still up 153% YTD, shares are now down 55% from their Oct. high of $5.70.
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