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Market Vectors Solar Energy ETF

6/19/2013, 11:42 PM ET

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Tuesday, June 11, 10:40 AM Volatile solar stocks head south (TAN -4%) after LDK Solar (LDK -8.5%) beat Q1 revenue estimates by $7.1M, but missed EPS forecasts $0.25 thanks to a -57% gross margin (-42.7% exc. a $15.1M inventory write-down), and provided somewhat disappointing revenue guidance. JKS -5.5%. TSL -4.9%. JASO -6.2%. DQ -4.8%. SPWR -4.4%. FSLR -4.9%. YGE -5.2%. GTAT -3.6%. FSLR -4.9%. LDK ended Q1 with $174M in cash, $182M in pledged bank deposits, and a whopping $2.6B in debt. (SolarCity) Comment! [Tech, On the Move, Earnings]
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]
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]
Tuesday, May 28, 6:41 PM American Electric Power (AEP), Southern Co. (SO) and other utilities that have traditionally burned coal to generate electricity are exploring entering the rooftop-solar business, WSJ reports. They're testing the waters because they're feeling a pinch: Demand for electricity is barely growing in the sluggish economy, and developers of small-scale solar systems are giving customers another option for buying power. Comment! [Energy]
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, 7:15 AM Beijing's efforts at getting the EU to drop a plan to levy duties on Chinese solar panels are "a waste of time," says EU Trade Commissioner Karel De Gucht. "They are not going to impress me by putting pressure on member states," he said, testifying in parliament. Meanwhile, a survey of EU states say they don't support the tariff plan and Chinese solar names are moving. JASO +3.7%, YGE +6.6%, TSL +7% premarket. 2 Comments [Energy]
Friday, May 24, 12:21 PM Solar stocks (TAN +0.8%; KWT +1.5%) wrap up a banner week, as Chinese solar panel makers begin to shift emphasis from their overcrowded home market in favor of lucrative exports. The rally was sparked by JA Solar's better than expected shipments, but analysts call for caution: The stocks are addicted to momentum, and stock moves are often disconnected from dire market prospects most of the companies face. Comment! [Tech, Energy]
Monday, May 20, 10:45 AM JA Solar (JASO +34.4%) is now skying higher following its Q1 beat and full-year shipment guidance reiteration, and is providing fresh fuel for the colossal solar stock rally that started last fall (TAN +4.4%). TSL +13.3%. DQ +20%. LDK +9.9%. JKS +10.3%. SCTY +11.6%. SOL +9.4%. CSUN +8.9%. SPWR +4.9%. ASTI +9.4%. YGE +8.4%. CSIQ +6.6%. The fact 38% of JA's Q1 module shipments went to Japan (a market with higher ASPs/margins than China) is likely going over well with investors. 6 Comments [Tech, On the Move, Earnings]
Wednesday, May 15, 2:14 PM Solar stocks continue to surge (TAN +4.6%) following SunPower's strong analyst day guidance. A few more winners: DQ +19.8%. SCTY +4.3%. JASO +9.2%. CSUN +7.9%. YGE +6.8%. Chinese solar names could also be getting a lift from news bankrupt Suntech (STP +9.7%) has reached a new forbearance agreement with a majority of its convertible debtholders, under which the debtholders agree not to exercise their rights until June 28. Also: LDK (LDK +8%) has filed its 2012 20-F. (yesterday) (Monday) 3 Comments [Tech, On the Move]
Monday, May 13, 11:27 AM SolarCity (SCTY +18.6%) is skyrocketing ahead of today's Q1 report - does someone know something? - and many other solar peers are also doing pretty well (TAN +4.5%). SOL +9.8%. CSIQ +11.6%. WFR +8%. LDK +9.3%. JASO +5.4%. SPWR +4.8%. FSLR +4.5%. GTAT +5.2%. JKS +7.9%. Short interests for many industry names remain sky-high: SolarCity had 16.6% of its float shorted as of April 30. SunPower was at 29.9%, First Solar 33.4%, and GT Advanced 34.8%. 4 Comments [Tech, On the Move]
Friday, May 10, 12:29 PM Volatile/well-shorted solar stocks are ripping higher (TAN +5.4%) to close out a week in which the EU imposed long-expected tariffs on Chinese solar panel imports. TSL +10%. CSIQ +16.1%. STP +9.1%. SCTY +8.6%. SOL +8.3%. JASO +7.5%. FSLR +4.6%. JKS +9.4%. LDK +3.4%. SPWR +7.8% A Reuters column today notes the pace of module price declines is expected to slow, as weaker players are forced out and U.S./emerging markets demand gradually soaks up excess capacity. 4 Comments [Tech, On the Move]
Tuesday, May 7, 10:43 AM Solar stocks head south (TAN -3.3%) in sympathy with First Solar, which is giving back some of this year's huge gains in response to a Q1 miss, a margin drop, and pipeline visibility concerns. SCTY -8.1%. LDK -6.2%. JASO -5.9%. SPWR -4.8%. CSIQ -4.3%. WFR -3.8%. YGE -3.5%. TSL -3.4%. GAT -3.1%. JKS -6.2%. The declines come a few days after a rally triggered by SunPower's strong Q1. Comment! [Tech, On the Move]
Thursday, May 2, 4:37 PM Solar stocks spiked in the final hour of trading (TAN +2.3%) after SunPower's blowout Q1 results were leaked. LDK +8%. JKS +9.5%. JASO +11%. TSL +7.5%. WFR +3.6%. DQ +4.6%. YGE +3.7%. FSLR +1.4% after spending most of the day in negative territory. 2 Comments [Tech, On the Move]
Wednesday, April 24, 12:59 PM First Solar (FSLR +12.9%) and other solar stocks (TAN +3%) are sharply higher, apparently related to news the MLP Parity Act is being re-introduced today in the House and Senate - a bill that's not likely to even pass and is not a game changer. JKS +12.1%, SPWR +10.7%, STP +11.4%, LDK +9.6%. Comment! [Tech, Energy, On the Move]
Monday, April 15, 12:49 PM Disappointing Chinese GDP data helps fuel a rout in solar stocks (TAN -3.8%). A broader selloff in risk assets isn't helping either. Suntech (STP -21.1%) is the biggest loser, as the Buffett rumor rally officially comes to an end. JASO -11.8%. LDK -10.7%. YGE -8%. WFR -7.9%. GTAT -5.9%. SOL -8.2%. TSL -6.9%. SPWR -5.1%. JKS -8.5%. DQ -5.2%. YGE -8%. Comment! [Tech, On the Move]

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