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Suntech Power Holdings Co., Ltd. (STP)

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STP is defunct.
  • Mar. 11, 2013, 12:19 PM
    More on Suntech: The China Business Journal reports Suntech (STP -6.7%) could seek bankruptcy protection between March 15-20, and that state-owned Wuxi Guolian Development plans to buy the hard-luck solar module maker's assets as part of a restructuring.
    | 3 Comments
  • Mar. 11, 2013, 9:42 AM
    Suntech (STP -9.1%) signs a forbearance agreement with creditors that gives it an extra 2 months of breathing room. The creditors, who own $541M worth of convertible debt due on March 15, agree not to "exercise their rights under the notes" until May 15, during which time Suntech will continue talking with them. Investors seem disappointed a bailout and/or restructuring haven't been announced. (Bank of China)
    | 1 Comment
  • Mar. 8, 2013, 9:52 AM
    The Bank of China is suing Suntech (STP +2%) over its loan obligations, China's 21st Century Business Herald reports. Suntech's woes have been piling up ahead of March 15, when a $541M convertible bond the company won't be able to pay without a restructuring or new financing comes due. The Suntech saga is widely seen as a test of whether the Chinese government plans to make good on comments indicating it will no longer prop up money-losing domestic solar firms. (previous)
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  • Mar. 7, 2013, 3:08 PM
    Suntech (STP +2.6%) settles a dispute with GSF Capital over an investment fund; GSF will exit the fund, leaving STP with a bigger stake. But the Chinese maker of solar panels has a convertible bond coming due next week, and whether it has the cash to pay up remains to be seen. In any case, Citigroup analysts recommend staying far away from the stock.
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  • Mar. 6, 2013, 9:03 AM
    Raymond James is getting less negative on solar.  SunPower (SPWR), First Solar (FSLR), Trina (TSL), and Suntech (STP) have all been upgraded to Market Perform. It might've been wiser to make this call in November.  SPWR +3.3%. FSLR +2.8%. TSL +1%. STP +1.7% in spite of its boardroom drama.
    | 4 Comments
  • Mar. 6, 2013, 8:18 AM
    Suntech Power (STP) founder and former CEO Zhengrong Shi says he will fight a decision by the company's board to replace him as chairman. STP on Monday named Susan Wang as successor to Shi and said he would remain chief strategy officer and a director. The controversy comes ahead of a March 15 deadline to make a $541M bond payment. STP -2.4% premarket.
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  • Mar. 5, 2013, 1:15 PM
    A solar trade war between the EU and China looks inevitable. EU customs officials will start registering Chinese module imports tomorrow, a move that could pave the way for tariffs. The EC has until June 6 to impose provisional tariffs; EU member states have until Dec. 5 to vote on definitive tariffs. The Chinese government appears on its way to imposing tariffs on polysilicon imports from the EU, U.S., and South Korea. Suntech (STP -4.3%) is lower, but other Chinese solar names are following the market higher. YGE +5.8%. JKS +6.6%. TSL +5.6%. SOL +5.3%.
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  • Feb. 28, 2013, 2:50 PM
    Fears are growing the Chinese government won't bail out Suntech (STP -14.5%) debtholders ahead of a $541M March 31 payment, writes Axiom Capital's Gordon Johnson, stoking a selloff in the process. Though Johnson expects a bailout to happen, he notes Suntech shares will likely plummet if it doesn't, given the fraud-wracked solar module has little chance of making the payment through other means. Suntech is currently talking with the Wuxi, China city government about support.
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  • Feb. 11, 2013, 2:50 PM
    One more reason solar stocks could be moving higher today: German polysilicon maker Wacker says it's ramping production due to strong demand, and has eliminated "short-time working schedules." The news follows a major 2H12 decline in plant utilization rates due to soft demand and high inventories, and comes in spite of worries China will soon impose tariffs on polysilicon imports. Publicly-traded manufacturers: WFR, DQ, LDK, STP, YGE. (earlier)
    | 13 Comments
  • Feb. 11, 2013, 11:42 AM
    Solar stocks are having a good day (TAN +2.8%). One possible reason: a weekend FT report that observes bankers are close to securitizing solar panel leases into bonds. Functioning much like MBS', solar bonds would package panel leases and be supported by cash flows from related electricity purchase commitments. SPWR +9.8%. SOL +6.1%. YGE +6.5%. STP +5.5%. FSLR +5.5%. LDK +4.5%. JASO +4.5%. TSL +4.4%. (also)
    | 4 Comments
  • Feb. 8, 2013, 10:46 AM
    Some solar stocks are off after SunPower (SPWR -6.9%) provided light top-line guidance to go with its Q4 beat. FSLR -2.4%. YGE -2%. STP -2%. TSL -1.9%. SunPower's EMEA sales fell 64% Y/Y in Q4, nearly offsetting solid growth in the Americas and Asia-Pac. However, gross margin rose 460 bps Q/Q to 18.6%. Continued margin improvement and an expected 10% drop in opex lead SunPower to predict on its earnings call it will see a "significant increase" in EPS this year.
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  • Feb. 6, 2013, 10:17 AM
    First Solar (FSLR +3.3%), SunPower (SPWR +3.4%), MEMC (WFR +2.7%), and Advanced Energy (AEIS +4.2%) open higher after Citi's Shahriar Pourreza (taking over from Timothy Arcuri, who left for Cowen) launches coverage with Buy ratings. While believing the solar panel market is becoming commoditized, Pourreza argues buying opportunities exist in companies with strong exposure to construction activity and growth markets. Trina (TSL) and Yingli (YGE) have been started at Hold, and Suntech (STP) at Sell.
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  • Feb. 5, 2013, 1:34 PM
    Solar stocks are spiking. The move may be related to a news item dated Jan. 30 and released today about a tax ruling that would clear the way for solar farms to be clasified as REITs. FSLR +6.8%. SPWR +6.3%. TSL +5.2%. YGE +4.2%. STP +3.8%. TAN +3.5%.
    | 4 Comments
  • Jan. 31, 2013, 1:00 PM
    Cash-strapped LDK Solar (LDK +8.8%) jumps after scoring a $69.8M loan from China Development Bank to finance an upgrade to a polysilicon plant. The news comes a week after LDK announced it's selling a 12.1% stake to peer Funai Investment. Meanwhile, Suntech (STP +4.4%) announces it has completed a 3.5MW Saudi project, and First Solar (FSLR +0.1%) discloses it has bought a 50MW project based in Luna County, NM and set to be finished in 2014.
    | 1 Comment
  • Jan. 25, 2013, 9:10 AM
    Premarket gainers: INFA +10%. TPX +10%. ECTE +9%. OSK +8%. STP +6%. THLD +7%. SNE +6%.
    Losers: SCSS -15%. BGMD -15%. EGHT -10%. SFL -8%.
    | 1 Comment
  • Jan. 9, 2013, 2:14 PM
    Solar stocks are soaring after China's announcement yesterday that it would seek to double solar installations to 10 GW, but analysts worry the stocks have moved too far too fast. While seeing the measures as positive, Nomura warns the stocks have rallied 50-100% in the last month and have "more than fully captured the upside." Today: TSL +11.3%, STP +8.4%, LDK +8.2%, YGE +7.4%.
    | 1 Comment
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Company Description
We are one of the leading solar energy companies in the world as measured by production output in 2009, with leading positions in key solar markets. Since we commenced business operations in May 2002, we have grown rapidly to become the world’s largest manufacturer of crystalline silicon PV... More
Sector: Technology
Country: China