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. 14, 2014, 11:57 AM
- JA Solar (JASO +7.4%) now expects Q1 solar cell/module shipments to top 620MW, putting them above prior guidance of 580MW-610MW. In addition, gross margin is expected to rise from a Q4 level of 15.5% (already up 420 bps Q/Q).
- Full-year cell/module guidance (2.7GW-2.9GW, of which 200MW is expected to involve JA's downstream projects) is being reiterated.
- JA's Q1 guidance hike comes in spite of recent warnings from Yingli and Trina.
Apr. 10, 2014, 4:01 PM
- Following a two-day rebound, high-beta tech stocks are seeing monumental losses once again. The Nasdaq is closing with its biggest one-day decline since 2011 (eclipsing last week's 110-point drop).
- Security hardware/software providers were hard-hit following Imperva's (IMPV -43.8%) big warning: FEYE -11.6%. PANW -6.4%. PFPT -9.8%. FFIV -4.7%. KEYW -6.5%. FTNT -6.9%. QLYS -10.4%.
- Other high-beta enterprise names didn't fare much better: DATA -10%. SPLK -10.3%. WDAY -9.3%. VRNS -8%. EOPN -7.9%. FIO -7.6%. BLOX -9.7%.
- Major Internet decliners: P -11%. YELP -10.6%. ZNGA -6.6%. YY -7.3%. QIHU -9.3%. SINA -6.6%.
- Solar: TSL -10.4%. CSIQ -10.4%. JKS -7.9%. SPWR -7.4%. JASO -6.8%. CSUN -8.2%.
- 3D printing: DDD -10.6%. VJET -13.3%. ONVO -8.1%. XONE -7.7%. SSYS -6.7%.
Apr. 1, 2014, 9:40 AM
- Nvidia (NVDA +3.4%) has been upgraded to Outperform by JMP. The company made a flurry of product announcements last week.
- InvenSense (INVN -2.2%) has been cut to Market Perform by Oppenheimer. A Galaxy S5 teardown recently turned up a 6-axis InvenSense motion sensor.
- Rubicon (RBCN +10%) has been upgraded to Overweight by JPMorgan.
- JA Solar (JASO +5.2%) has been started at Outperform by Northland.
- Tablueau (DATA +1.4%) has been upgraded to Outperform by Baird.
- Informatica (INFA +4.2%) has been upgraded to Overweight by Barclays.
- MagnaChip (MX -2.5%) has been cut to Neutral by Chardan Capital following Friday's restatement/CFO news. UBS downgraded shares to Sell yesterday.
- Extreme Networks (EXTR +6%) has been started at Buy by Wunderlich. The company recently launched several new software products, as well as 100-gig Ethernet blade for its switches.
- Coupons.com (COUP -2.2%) has received a bullish rating from BofA/Merrill, and neutral ones from Goldman and RBC, on underwriter coverage day.
Mar. 17, 2014, 10:06 AM
- JA Solar (JASO +9.6%) expects cell/module shipments in seasonally weak Q1 to total 580MW-610MW, and full-year shipments to amount to 2.7GW-2.9GW, 200MW of which will be for the company's own solar projects. The full-year guidance range compares with a 2013 level of 2.1GW.
- Q4 shipments totaled 665.MW, +33% Q/Q and Y/Y, and well above a guidance range of 500MW-550MW. Cells accounted for 302.2MW of shipments (+55% Q/Q and +70% Y/Y), and modules 363.3MW (+19% Q/Q and +13% Y/Y).
- Helping JA's bottom line: Gross margin rose to 15.5% from 11.3% in Q3 and -4.6% a year ago, and opex fell 34% Y/Y to $45.6M even as revenue rose 29.5%.
- China made up 53.2% of Q4 shipments, up sharply from 38.7% in Q3. The rest of Asia-Pac accounted for 31.7% vs. 39.3%, Europe 8.3% vs. 9.5%., and the Americas 5.9% vs. 10.7%.
- JA ended Q4 with $350.2M in cash/equivalents, and $583.5M in debt.
- Q4 results, PR
Mar. 17, 2014, 9:09 AM
Mar. 17, 2014, 7:22 AM| Comment!
Mar. 17, 2014, 12:05 AM
Mar. 16, 2014, 5:30 PM
Mar. 14, 2014, 9:20 AM
Mar. 7, 2014, 9:40 AM
- GT Advanced (GTAT +4.8%) has been upgraded to Outperform by Credit Suisse, and is making new 52-week highs. Goldman started shares at Buy on Tuesday.
- JA Solar (JASO +2.6%) has been started at Buy by Sidoti. The company was one of several Chinese solar names to post big gains yesterday.
- Polycom (PLCM +3.3%) has been upgraded to Buy by Citi.
- AppliedMicro (AMCC +1.1%) has been started at Buy by Roth.
- Quality Systems (QSII +3.6%) has been upgraded to Market Perform by FBR.
- Imagination (IGNMF) has been cut to Sell by Canaccord. Shares are down 1.7% in London.
Mar. 4, 2014, 1:34 PM
- With the help of positive earnings news from Trina and Yingli, volatile solar stocks are among the standouts (TAN +6%) on a very good day for equities.
- Trina posted mixed Q4 results, but also issued a strong 2014 module shipment forecast. Yingli has pre-announced its Q4 module shipments will be soundly above prior guidance.
- Notable gainers: SPWR +8.6%. JASO +8%. CSUN +6.6%. CSIQ +7.3%. STRI +10.1%. DQ +8.4%. SOL +6%.
- SunEdison (SUNE +10.5%) is taking off with the help of a Morgan Stanley upgrade. Analyst Timothy Radcliff thinks the commercial-scale solar market could grow to 129GW by 2018, with a rush of activity prior to a 2017 federal tax credit cut. He also thinks SunEdison's solar project yieldco spinoff could sport a $1.6B valuation within 12-18 months, and notes such instruments "trade at premium valuations given [their] predictable and growing cash flows."
- JinkoSolar (JKS +14.8%) is more than recouping yesterday's post-earnings losses with the help of positive commentary. Roth (Buy) notes Jinko's 2014 module guidance of 2.3GW-2.5GW beat the firm's 2.1GW estimate, and thinks Jinko is the first Chinese company to see its non-silicon processing costs drop below $0.40/watt.
Feb. 26, 2014, 12:14 PM
- With 17 of the 20 analysts covering First Solar (FSLR -11.5%) holding neutral or bearish stances going into the company's Q4 report, little sympathy is being shown in response to a big Q4 miss and soft Q1 guidance.
- Goldman (Sell, PT lowered to $42 from $45) continues to see a "lack of upside in First Solar's utility-scale model." The firm points to checks showing a "challenging U.S. growth outlook for large-scale utility projects," mixed performance in emerging markets, and the lack of a near-term yieldco spinoff/IPO for First Solar's solar projects (SunEdison recently filed for one).
- Goldman also thinks First Solar's ability to hit a 1:1 book-to-bill at the end of 2013 was accompanied by a mix shift towards lower-margin module orders.
- Morgan Stanley is pleased with First Solar's cost-cutting moves, but also thinks investors are counting on "a large degree of profitable international growth," which it considers "highly uncertain." Cowen expects gross margin to be down 450 bps Q/Q, but also notes Q1 guidance "may not be indicative of full-year results."
- In spite of First Solar, peers are turning in a strong day (TAN +4.1%). The Street's positive response to SunEdison's Capital Markets Day could be helping.
- Notable gainers: SCTY +6.6%. CSIQ +8.4%. DQ +6.9%. JKS +4.2%. JASO +3.5%. ENPH +4.1%.
Feb. 18, 2014, 4:03 PM
- On a good day for many tech momentum plays, solar and Chinese Internet stocks led the way.
- Solar names could be benefiting from Chinese government remarks suggesting Beijing remains open to trade talks to end its ongoing solar import dispute with the U.S. The comments come after the ITC added Chinese solar panels made with Taiwanese cells to its list of Chinese panels covered by import duties.
- Also: SunEdison (SUNE +6.6%) has filed for an IPO for its solar project business, a move that could entice other companies with major solar project ops to do the same.
- Solar gainers: FSLR +6.9%. SCTY +8%. JASO +12.6%. DQ +9.2%. CSUN +8.1%. YGE +5.5%. JKS +5.3%.
- Chinese Web gainers: CTRP +11.5%. CCIH +16.8%. RENN +11%. YOKU +6.1%. QIHU +6.9%. WUBA +10.6%. WBAI +7.9%. GOMO +9.1%. SOHU +5.6%.
- 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.
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