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Market Vectors Solar Energy ETF (KWT)

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  • Aug. 8, 2012, 5:57 AM
    China's National Energy Administration increases its 2015 target for solar power capacity by 40% to 21 (GW) as lower costs and regulation helping to fuel growth in the sector. Stocks likely to benefit include Suntech Power (STP), LDK, ReneSola (SOL), JA Solar (JASO) and Yingli (YGE).
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  • Aug. 7, 2012, 1:11 PM
    First Solar (FSLR +6%) jumps after the White House announces it will expedite seven solar and wind projects, including First Solar's Silver State South Nevada project. Wind turbine component maker American Superconductor (AMSC +7.6%) is also among the day's big winners. FSLR is now up 36% since it delivered a huge Q2 beat, but remains down sharply on the year.
    | 6 Comments
  • Aug. 2, 2012, 11:18 AM
    First Solar (FSLR +24.5%) skyrockets after a strong Q2 report that featured improving margins and receivables. Four firms are upgrading - among them is Cantor, which is now more confident about FSLR's ability to transition to a construction-focused business model. However, Deutsche and Needham express worries about the profitability of construction deals, and ongoing weakness in sales for 3rd-party installations. 55.8% of FSLR's float was shorted as of July 13. (transcript)
    | 3 Comments
  • Jul. 31, 2012, 1:03 PM
    More on the solar industry: Trina's warning and Suntech's fraud disclosure come as signs of ugly industry demand and pricing continue to pile up. The price of solar cells with a 17% conversion efficiency has fallen 6% just over the last week, to $0.42/watt. "Poor order controls" and a "sudden demand freeze" are blamed for the drop. Last week, it was reported Chinese firms are selling idle equipment in order to raise cash. Industry giant First Solar (FSLR +5.3%) is rallying ahead of tomorrow's Q2 report.
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  • Jul. 31, 2012, 12:47 PM
    Trina Solar (TSL -9.3%) makes new lows after warning it expects Q2 module shipments of 390MW-420MW, below prior guidance of 500MW-520MW. Trina also expects to report a gross margin of just 7%-9% (still better than LDK Solar's negative margin), a $26M-$28M inventory write-down, a $45M-$48M receivables provision (many solar vendors have had collection issues), and a forex loss of $22M-$23M. Shares could also be affected by Suntech's problems.
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  • Jul. 30, 2012, 10:12 AM
    Suntech (STP -13.4%) makes new all-time lows after stating it could be the victim of a massive fraud. Suntech was guaranteed €560 ($692M) worth of German government bonds by asset management firm GSF Capital as collateral for a €540M ($662M) investment in a fund that invested in private companies developing solar projects. However, the company now believes the bonds "may not have existed." YGE -11.2%. CSIQ -7.3%. JASO -7.2%. TSL -6.7% after warning.
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  • Jul. 12, 2012, 6:39 PM
    Global clean energy investments totaled $59.6B in Q2, according to Bloomberg New Energy Finance - up 24% Q/Q but down 18% Y/Y. Chinese investments soared 92% Q/Q, as the government does whatever it can to support the industry, while U.S. and Euro investments respectively rose 18% and 11%. Solar investments rose 19%, and wind investments 47%. The higher solar spending hasn't yet managed to create a bottom for struggling manufacturers, though some think one will soon arrive.
    | 3 Comments
  • Jul. 12, 2012, 10:56 AM
    Piper is downgrading four solar names - LDK Solar (LDK -4.4%), Trina Solar (TSL -5%), Yingli (YGE -3.2%), and JA Solar (JASO -4.5%), while upgrading two others - Canadian Solar (CSIQ +1.4%) and SunPower (SPWR +0.2%). The downgrades relate to worries about pricing and margins, though LDK's high debt load is also discussed. The CSIQ and SPWR upgrades stem from optimism about the companies' project installation and U.S. residential ops, respectively.
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  • Jul. 11, 2012, 10:27 AM
    Canadian Solar (CSIQ +4.5%) says it will decide within months whether it will build a 700MW Chinese solar cell plant. CSIQ has a heavy debt load, and industry conditions makes this a less-than-ideal time for such an investment, but CSIQ is hoping the high efficiency of the cells it plans to produce will justify the outlay. Also, the Chinese government has been generous in supporting local manufacturers.
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  • Jul. 5, 2012, 6:58 PM
    Chinese solar module firms are now reportedly willing to extend payment periods to 120-180 days, as they do whatever they can to reel in new business in the face of weak demand and (soon) U.S. tariffs. That's a good reason to keep an eye on the accounts receivable figures of Chinese solar vendors, who rallied on Tuesday after the Chinese government quadrupled its 2015 solar installation target.
    | 4 Comments
  • Jul. 3, 2012, 10:22 AM
    Some solar names are rallying after the Chinese government quadruples its 2015 domestic solar installation target to 21GW - its latest effort (previous) to prop up local vendors contending with oversupply, negative gross margins, weak Euro demand, and now anti-dumping tariffs. Remaining to be seen is how much the government will "encourage" local firms to consolidate. LDK +5.9%. STP +6.8%. FSLR +4.8%. CSIQ +4.7%. JASO +3.9%.
    | 1 Comment
  • Jun. 29, 2012, 12:13 PM
    After losing 75% of its value over the past year, the Market Vectors Solar ETF (KWT) will soar in price, but not value Monday morning when a 1-for-15 reverse split goes into effect. It joins the similarly deteriorated Guggenheim Solar ETF (TAN) which underwent a 1-for-10 split earlier this year.
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  • Jun. 26, 2012, 1:54 PM
    The solar-panel industry faces three more lean years as it works work off excess production capacity, a new report from consultancy GTM Research predicts. This year's capacity of 59 GW is almost double the 30 GW expected to be sold, while 21 GW is expected to be retired by 2015 as panel prices continue to slump.
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  • Jun. 18, 2012, 4:08 PM
    Solar stocks finish higher (TAN +2.2%) on a good day for high-beta tech names. Helping their cause is the Japanese government's unveiling of a solar subsidy program that pays solar panel owners for electricity at a rate that's 3x the one charged for conventional power. Even if domestic suppliers take a large chunk of the resulting orders, the demand boost the program stands to provide could help stabilize diving solar cell and module prices.
    | 2 Comments
  • Jun. 18, 2012, 12:20 PM
    Solar power shares rise after Japan takes on the mantle of industry savior by approving a plan that could lead to at least $9.6B of new installations of solar cells. Power companies will be required to buy solar energy at Y42 per kilowatt hour ($0.53) for twenty years, or about double the tariff in Germany. FSLR +5.7%, SPWR +2.6%, STP +8.15%, DSTI +19.4%.
    | 3 Comments
  • Jun. 13, 2012, 4:28 PM
    Suntech Power (STP -2.9%), which is able to limit the impact of U.S. import tariffs on Chinese solar modules thanks to its domestic ops, says it raised prices by 1%-2% as many Chinese peer dropped out of the market. The company adds it expects its U.S. production costs to fall 10%-15% between now and the end of the year. While Euro solar demand has weakened, U.S. demand has remained strong, though that hasn't done much yet to create a bottom for plunging solar module prices.
    | 2 Comments
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KWT Description
Market Vectors Solar Energy ETF (the “Fund”) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors Global Solar Energy Index (the “Index”).
See more details on sponsor's website
Sector: Technology
Country: United States
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