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Guggenheim Solar ETF (TAN)

  • Apr. 15, 2013, 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%.
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  • Apr. 12, 2013, 5:26 PM
    The week's ETF movers - Gainers: TAN +14.8%. GAZ +5.1%. REMX +3.9%. EWJ +3.7%. IDV +3.5%.
    ETF Losers: GDXJ -9.1%. VXX -8.7%. GDX -8.1%. PHYS -7.0%. GLD -5.8%.
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  • Apr. 10, 2013, 12:38 PM
    Many solar stocks are giving back some of yesterday's monumental First Solar-driven gains. A weak Q4 report from JinkoSolar (JKS -5%) is a likely factor: in addition to soundly missing estimates, Jinko reported a gross margin of just 3.8% (-200 bps Q/Q and +820 bps Y/Y), and guided for Q1 module shipments to fall to 270MW-300MW from Q4's 301.9MW. YGE -7.4%. SOL -6.2%. LSK -4.5%. CSUN -2%. LDK -4.5%. TSL -1.6%. SunPower (SPWR -2.7%) is lower in spite of receiving an upgrade to Buy from S&P.
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  • Apr. 9, 2013, 1:41 PM
    First Solar (FSLR +23.8%) guides on its analyst day for 2013 revenue of $3.8B-$4B and EPS of $4-$4.50, far above a consensus of $3.15B and $3.46. Shares have spiked higher on the news, and were shortly halted due to volatility. Other solar names are also surging: SPWR +9.8%. TSL +8.7%. DQ +12.3%. STP +36.1%. LDK +15%. JKS +15.4%. WFR +7.5%. JASO +6.6%. (previous) Update (1:56): First Solar shares are now up 48.2%, and have been halted again. CNNMoney's Paul R. La Monica notes over 1/3 of the float is shorted. "Can you say squeeze?"
  • Apr. 8, 2013, 10:07 AM
    First Solar (FSLR +1.8%) and sales chief James Brown have "mutually agreed" Brown should no longer work for the company. The disclosure, which comes in advance of tomorrow's analyst day, doesn't seem to be bothering investors much, as First Solar joins a broader rally in solar names (TAN +1.3%) in the wake of Trina's upbeat comments about industry capacity and Chinese demand. JKS +8.2%. CSUN +8.4%. YGE +4%. SOL +4.7%. SPWR +2.4%. SCTY +1.9%. DQ +6.3%. CSIQ +2.6%. JASO +2.3%.
  • Apr. 5, 2013, 2:30 PM
    Top German utilities EON and RWE are set to significantly pare back their alternative energy spending, actions bound to further weaken demand in a top solar market that has already been hurt by subsidy cuts. EON plans to lower its clean-energy investments to less than €1B in 2015 from €1.79B in 2012, and RWE plans to cut its annual renewable energy spending by roughly half over the next two years to €500M.
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  • Apr. 1, 2013, 2:00 PM
    Disappointing Q4 results from Daqo (DQ -9.8%), together with a general decline in risk assets, fuels a rout in solar names. YGE -7.9%. SOL -7.3%. JKS -5.4%. GTAT -4.1%. CSIQ -4.9%. SPWR -2.8%. WFR -2.5%. Daqo's Q4 revenue of $6.2M represented a 77% Y/Y drop, and was well below the $14.5M forecast by the one analyst providing estimates. Gross margin was -178.5% (no typo), a little worse than Q3's -51.1%. Polysilicon output is expected to total 720 MT in Q1, up from Q4's 592 MT.
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  • Mar. 28, 2013, 5:25 PM
    The week's ETF movers - Gainers: GAZ +3.9%. OIL +3.7%. USO +3.4%. EWY +2.9%. XLU +2.3%.
    ETF Losers: TAN -4.5%. VXX -3.2%. REMX -3.1%. PSLV -1.8%. GDXJ -1.5%.
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  • Mar. 25, 2013, 12:36 PM
    Solar stocks slump after JA Solar misses Q4 EPS estimates (while beating revenue estimates) thanks to a -4.6% gross margin, and forecasts a major Q/Q shipment drop. TSL -13.3%. YGE -11.1%. SOL -5.7%. LDK -4.1%. CSIQ -4.4%. JKS -3.1%. FSLR -2.6%. SPWR -2.8%.
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  • Mar. 21, 2013, 9:19 AM
    A Wuxi, China court has "formally accepted" an insolvency petition for Wuxi Suntech, Suntech's (STP) main Chinese manufacturing unit. An admin committee has been appointed to handle the restructuring, and Wuxi Suntech will continue making solar cells/modules in the interim. Bankruptcy proceedings haven't yet started for Suntech proper. (yesterday)
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  • Mar. 19, 2013, 12:18 PM
    The Chinese government might restructure its solar subsidies to abolish one-time subsidies in lieu of feed-in tariffs, favor smaller projects, and promote construction in areas with power shortages, says an industry official. The remarks follow media reports of pending feed-in tariff cuts, and dovetail with new Premier Li Keqiang's push to introduce a fresh round of market reforms. "The wave of solar industry consolidation that’s hit Europe and the U.S. is coming to China," says industry observer Nathanael Greene.
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  • Mar. 15, 2013, 4:52 PM
    The week's ETF movers - Gainers: GAZ +6.37%. UNG +5.80%. GDXJ + 4.66%. FCG +3.92%. KBWD +1.81%.
    ETF Losers: TAN -7.33%. VXX -5.04%. BRF -4.33%. FXI -4.20%. EWY -3.78%.
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  • Mar. 14, 2013, 10:36 AM
    Suntech’s (STP -35.8%) troubles come even as the NYT reports U.S. solar installations surged to a record in 2012, in part because of the same oversupply of cheap Chinese solar panels that have crushed prices and solar stocks. Perhaps that’s why even as Suntech shares collapse, the solar sector (TAN +0.5%) is holding up well so far; YGE flat, FSLR -0.6%, TSL -1.7%.
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  • Mar. 13, 2013, 4:02 PM
    MEMC's (WFR -13.4%) soft guidance and a report the Wuxi, China government will take control of Suntech (STP -23.6%) ignited a solar selloff (TAN -5%). LDK (LDK -12.7%), whose financial position is arguably only a little better than Suntech's, was especially hard-hit, but ReneSola (SOL -5.3%), Yingli (YGE -3.4%), Trina (TSL -3.5%), SunPower (SPWR -2.7%), and First Solar (FSLR -2%) also saw losses.
  • Mar. 8, 2013, 5:21 PM
    The week's ETF movers - Gainers: EPI +5.99%. FCG +5.25%. UNG +4.93%. TAN +4.45%. EWZ +4.44%.
    ETF Losers: VXX -11.09%. TLT -3.49%. FXY -2.60%. EWY -1.36%. MUB -1.36%.
  • 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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TAN Description
The Guggenheim/MAC Global Solar Energy Index ETF seeks investment results that correspond generally to the performance, before the Fund’s fees and expenses, of an equity index called the MAC Global Solar Energy Index. The Fund will normally invest at least 90% of its total assets in common stock, American depositary receipts and global depositary receipts that comprise the Index. Guggenheim Advisors, LLC seeks a correlation over time of 0.95 or better between the Fund’s performance and the performance of the Index. The Index is designed to track companies within the following business segments of the solar energy industry: companies that produce solar power equipment and products for end-users, companies that produce fabrication products (such as the equipment used by solar cell and module producers to manufacture solar power equipment) or services (such as companies specializing in the solar cell manufacturing or the provision of consulting services to solar cell and module producers) for solar power equipment producers, companies that supply raw materials or components to solar power equipment producers or integrators; companies that derive a significant portion of their business (measured in the manner set forth below under “Index Methodology" section) from solar power system sales, distribution, installation, integration or financing; and companies that specialize in selling electricity derived from solar power.
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Sector: Technology
Country: United States
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