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Market Vectors Solar Energy ETF (KWT)

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  • Nov. 15, 2012, 1:55 PM
    It's still no fun to be a solar manufacturer. Canadian Solar (CSIQ -14%) is seeing huge losses following its big Q3 miss, which is contributing to yet another sector rout (TAN -3.6%). Canadian's gross margin fell to a mere 2.2%, and would likely have been negative if not for its efforts (similar to those of peers) to expand into plant construction. The company expects to ship 380MW-420MW of modules in Q4, compared with 384MW in Q3, and record a gross margin of 1%-3%. (yesterday) (transcript)
    | 2 Comments
  • Nov. 14, 2012, 4:03 PM
    Solar stocks close with big losses (TAN -4.3%) on a bad day for high-beta tech firms not named Facebook. Trina (TSL -18.3%) is now down 27% since slashing guidance on Monday morning. STP -11.9%. LDK -7.5%. SPWR -6.7%. CSIQ -9.2%. (LDK deal termination)
    | 2 Comments
  • Nov. 12, 2012, 3:01 PM
    Solar stocks advance as China says it is taking new applications from regional governments looking for solar project subsidies. Talk of a government bailout gives these shares a reprieve, but how long it lasts is another story as many analysts think the industry needs more than this type of bailout. LDK +16.6%, STP +6.5%, YGE +3.7%, FSLR +3%.
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  • Nov. 9, 2012, 2:42 PM
    First Solar (FSLR +2.9%) and SunPower (SPWR +3.6%) continue to have a good week. Hopes are up that Pres. Obama's re-election will mean the DOE's strong financial support for U.S. solar projects will remain in place. MEMC (WFR +3.8%) is also rallying. (previous)
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  • Nov. 8, 2012, 5:17 AM
    The ITC yesterday voted 6-0 that U.S. solar-panel manufacturers have been harmed by illegal dumping from their Chinese rivals, opening the way for the Commerce Department to impose tariffs. The department has said these will mainly be 24%-36%, although some face duties of up to 250%. North American firms in focus: SPWR, FSLR, CSIQ, WFR. China: JASO, CSUN, STP, SOLR, SOL, YGE, LDK, CSUN
    | 3 Comments
  • Nov. 6, 2012, 11:48 AM
    U.S. solar plays First Solar (FSLR +7.1%) and SunPower (SPWR +6.2%) are having a good day. Growing expectations among observers that Pres. Obama will be re-elected could be fueling the gains, in light of his administration's support for DOE solar funding in the face of Congressional opposition.
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  • Nov. 2, 2012, 9:12 AM
    First Solar (FSLR) now -6% in response to its Q3 report, as a top-line miss and weak operating cash flow guidance overshadow EPS strength. Cantor is downgrading to Hold on valuation and concerns about the profitability of new projects. Management noted on the earnings call solar continues to see "an increasing number of production cuts, capacity reductions and bankruptcies," and that several construction sites have been impacted by Hurricane Sandy. Q3 capacity utilization was 83%, up from Q2's 63%, and production cost/watt fell by $0.05 to $0.67.
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  • Oct. 30, 2012, 6:27 PM
    Here's a bit of good news for the beleaguered solar industry: Digitimes reports some Chinese solar material makers have seen capacity utilization rates rise to 50% in October from a mere 20%-30% in September due to strong domestic demand. Moreover, Taiwanese suppliers have reportedly seen utilization rates rise above 70% thanks to growing Japanese demand. Both the Chinese and Japanese governments are pulling out all the stops (I, II) to boost local solar investment.
    | 4 Comments
  • Oct. 22, 2012, 5:57 AM
    Siemens (SI) plans to exit the solar industry as part of its cost-reduction plan and is in negotiations with prospective suitors for its solar ops after they failed to meet expectations because of low growth and prices. Siemens will now focus its renewable energy activities on hydro and wind power, which have also been problematic.
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  • Oct. 11, 2012, 9:57 AM
    First Solar (FSLR +2.9%) is trekking higher following the U.S. government's official imposition of anti-dumping tariffs against Chinese solar vendors, and LDK Solar (LDK -2.9%) and Suntech (STP -2.7%) are doing the opposite. The Chinese government was quick to denounce the tariffs, which are accompanied by countervailing duties of 15%-16%. But some U.S. manufacturers are disappointed the duties don't cover Chinese solar modules made with non-Chinese cells.
    | 5 Comments
  • Oct. 10, 2012, 5:03 PM
    The U.S. government has reportedly set anti-dumping duties of 18%-250% on Chinese solar imports. Provisional anti-dumping duties of 31%-250% were set in May. The Chinese government has been vocal about its displeasure with the duties, and is currently reviewing anti-dumping complaints made by Chinese polysilicon vendors against U.S. firms.
    | 3 Comments
  • Oct. 5, 2012, 9:58 AM
    First Solar (FSLR -7.7%) tumbles after receiving a downgrade to Negative from Positive from Avian, which claims the junction boxes accompanying First Solar's solar module installations are suffering from reliability issues. Avian, which smartly upgraded First Solar in May, notes the warranty on First Solar's modules lasts for 20 years. Solar stocks in general are selling off (TAN -1.9%) following a critical NYT column about Chinese production. TSL -3.5%. STP -3.5%.
    | 6 Comments
  • Sep. 28, 2012, 10:06 AM
    Suntech (STP +4.7%) moves higher following a report banks in the company's home town of Wuxi have extended $31.7M in in new loans. But shares are still trading at a mere $0.90 in the wake of a fraud scandal involving an affiliated investment firm. Separately, the Chinese government is taking another step to prop up its solar industry (previous), asking provinces to deliver plans for increasing solar's share of local power output.
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  • Sep. 25, 2012, 4:07 PM
    European solar firms have filed another complaint with the EC accusing their Chinese rivals of benefiting from illegal subsidies. Germany's SolarWorld claims the subsidies amount to 20x Chinese consumption and 2x global demand. The complaint comes a day the China Development Bank renewed its pledge to support 12 local vendors, including Suntech (STP -8.9%), Trina (TSL +1.8%), and Yingli (YGE +2.4%). (previous)
    | 4 Comments
  • Sep. 14, 2012, 4:09 PM
    The House has passed the No More Solyndras Act, which would curtail a DOE loan guarantee program that ignited a firestorm of controversy after a certain solar manufacturer went belly-up. The bill, passed mostly on party lines, has little chance of clearing the Democrat-controlled Senate, but it highlights the tense political climate the DOE program, which U.S. solar vendors such as First Solar (FSLR) and SunPower (SPWR) depend heavily on, operates under.
    | 14 Comments
  • Sep. 14, 2012, 11:47 AM
    Solar stocks aren't getting left out of today's Bernanke-fueled move into risk assets (TAN +2.4%) - First Solar (FSLR +8.3%) is leading the way. Yesterday, the Chinese government announced solar investments will reach CNY250B ($39.5B) during its 2011-2015 5-year plan. The announcement was well-received by local manufacturers, but U.S. and E.U. regulators might be worried about the details.
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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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