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Stock Market & Financial Investment News

News Breaks
March 5, 2014
13:05 EDTCSIQ, JKS, TSL, CSUN, JASOSolars fall after Canadian Solar misses expectations
Shares of a number Chinese solar energy companies are falling after one of the names in the sector, Canadian Solar (CSIQ), reported lower than expected earnings and provided lower than expected first quarter revenue guidance. WHAT'S NEW: Canadian Solar's fourth quarter earnings per share came in at 39c, versus analysts' consensus outlook of 41c. However, the company's revenue was slightly higher than expected. Canadian Solar noted that its solar module shipments had jumped to 621 megawatts last quarter, up from 478 megawatts in the previous quarter. However, its gross margin dropped to 19.5% in Q4, down from 20.4% in Q3. For Q1, Canadian Solar expects its revenue to come in at $415M-$430M, versus the consensus outlook of $517.78M. On its earnings conference call, the company stated that its Q1 sales have been hurt by the severe weather conditions in North America, which caused about $100M of its revenue to be delayed until future quarters. WHAT'S NOTABLE: Calling pollution a major problem, Chinese Premier Li Keqiang earlier today said the government would "declare war" on smog, Bloomberg reported. This emphasis on combating pollution could affect the pace of China's solar energy push. Earlier this year, China's government reported that Beijing plans to accelerate the development of solar energy in an effort to reduce its air pollution. Meanwhile, another company in the sector, JinkoSolar (JKS), yesterday reported significantly stronger than expected Q4 results. On another negative note for the sector, Chinese solar equipment producer Chaori Solar said today that it would not be able to make interest payments on bonds due on Friday, according to Reuters. PRICE ACTION: In early afternoon trading, JinkoSolar sank 5.4% to $34, Trina Solar (TSL) gave back 1.8% to $16.07, China Sunergy (CSUN) fell 2.2% to $5.60, JA Solar (JASO) dropped 5.8% to $10.15, and Canadian Solar tumbled 12.5% to $38.20.
News For CSIQ;JKS;TSL;CSUN;JASO From The Last 14 Days
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August 31, 2014
13:29 EDTCSIQJPMorgan to hold a conference
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August 29, 2014
11:28 EDTTSLOptions with decreasing implied volatility
Options with decreasing implied volatility: ITMN EXPR DSW ARUN ANF SWHC BIG TSL BBY PSEC
August 27, 2014
10:36 EDTTSLOptions with decreasing implied volatility
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August 26, 2014
13:12 EDTCSIQ, TSLTrinaSolar drops after revenue miss, peers follow
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12:24 EDTTSLOn The Fly: Midday Wrap
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09:54 EDTTSLTrina Solar sell-off after earnings overdone, says Cowen
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08:56 EDTTSLOn The Fly: Pre-market Movers
HIGHER: Tim Hortons (THI), up 10.5% after announcing merger agreement with Burger King (BKW), which is up 4% after the news. Burger King CEO Schwartz will become group CEO of the new company and Berkshire Hathaway (BRK.A) has committed $3B of preferred equity financing for the deal... DSW (DSW), up 12% after reporting Q2 earnings beat, FY14 outlook above consensus... Kite Pharma (KITE), up 17% after announcing phase 1-2a results from trial of potential treatment of non-Hodgkin's lymphoma... Mobileye (MBLY), up 4.4% after coverage of stock initiated at several research firms, including Morgan Stanley which started with an Overweight rating and $46 price target and named it a new top pick... Kandi Technologies (KNDI), up 9% following Bloomberg report on Chinese government considering funding for electric car chargers. LOWER: Best Buy (BBY), down 3.7% after reporting Q2 revenue below consensus, Q2 same-store sales decline of 2.7%... Sanderson Farms (SAFM), down 5.9% after Q3 earnings, revenue miss estimates... Movado (MOV), down 5.1% after Q2 revenue miss expectations... DOWN AFTER EARNINGS: Prospect Capital (PSEC), down 3.5%... Trina Solar (TSL), down 7.6%.
07:11 EDTTSLTrina Solar expects to ship 1,060 MW-1,120 MW of PV modules in Q3
In Q3, the company expects to ship between 1,060 MW and 1,120 MW of PV modules, of which 130 MW to 150 MW will be shipped to its downstream PV projects. Revenues will not be recognized for the modules shipped to its own developed projects as required by U.S. GAAP. The company expects its blended gross margin for FY14 to be at mid-teens in percentage terms with slightly lower gross margin expected for Q3. The company reiterates its FY14 guidance of total PV module shipments between 3.6 GW and 3.8 GW, of which 400 MW to 500 MW of PV modules will be shipped to the company's own downstream projects. Revenues will not be recognized for the modules shipped to its own projects as required by U.S. GAAP. The company maintains its guidance of completed downstream PV projects of between 400 MW-500 MW for FY14.
07:09 EDTTSLTrina Solar reports Q2 EPS 14c, consensus 14c
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August 25, 2014
15:18 EDTTSLNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Best Buy (BBY), consensus 31c; Golar LNG (GLNG), consensus (7c); DSW (DSW), consensus 32c; Tech Data (TECD), consensus 77c; Sanderson Farms (SAFM), consensus $3.82; Movado (MOV), consensus 54c; Trina Solar (TSL), consensus 14c.
08:58 EDTTSL, JKS, JASO, CSIQChances of solar trade deal now over 50%, says Roth Capital
Roth Capital now sees a greater than 50% chance that a compromise will be reached between Chinese solar companies and the U.S. government on trade restrictions, as the firm thinks that all stakeholders in the matter appear to have a sense of urgency to reach a deal by the end of November. Roth, which previously saw a 30%-40% chance that a deal would be made, thinks that discussions on the issue are progressing. It keeps Buy ratings on Canadian Solar (CSIQ), JA Solar (JASO), JinkoSolar (JKS), and Trina Solar (TSL), and a Hold rating on Yingli Green Energy (YGE).
August 22, 2014
07:04 EDTJKSJinkoSolar signs project investment agreement with Hengfeng County
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06:34 EDTJASO, TSL, CSIQChina not meeting shale gas goals, NY Times says
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August 21, 2014
12:15 EDTJKSJinkoSolar mentioned positively at Northland
07:14 EDTTSLTrina Solar's Duo-Max module receives certifications from UL and TUV Rheinland
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August 20, 2014
09:07 EDTJASOOn The Fly: Pre-market Movers
UP AFTER EARNINGS: PetSmart (PETM), up 2,1%... Staples (SPLS), up 2%... E-House (EJ), up 2.5%. HIGHER: Fairchild (FCS), up 4% after Bloomberg says Infineon (IFNNY) is near a deal to buy a U.S. semiconductor company for $2B... Amicus Therapeutics (FOLD), up 18.4% after reporting positive Phase 3 data from the Fabry study. DOWN AFTER EARNINGS: Lowe's (LOW), down 3%... Tarena (TEDU), down 9%... Leju (LEJU), down 4.2%... JA Solar (JASO), down 5%. LOWER: Hertz (HTZ), down 12.7% after downgraded at JPMorgan and Deutsche Bank following the company's decision to withdraw its FY14 guidance... NovaBay (NBY), down 35.2% after primary, secondary endpoints were not met in its NVC-422 study... RGS Energy (RGSE), down 14.9% after downgraded at Roth Capital following Q2 earnings results.
08:27 EDTCSIQCanadian Solar completes sale of Good Light Solar Power Plant to BluEarth
Canadian Solar's wholly-owned subsidiary, Canadian Solar Solutions, has completed the sale of Good Light, a 10 MW AC solar power plant located in the town of Kawartha Lakes, Ontario, Canada, valued at over $60.3M, to a BluEarth Renewables subsidiary. This is the second of four planned solar projects being acquired by BluEarth from Canadian Solar, totalling 38.5 MW AC.
07:32 EDTJASOJA Solar reports Q2 non-GAAP EPS 14c, consensus 21c
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07:32 EDTJASOJA Solar reports Q2 EPS 10c, consensus 21c
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07:05 EDTJKSJinkoSolar to supply 40 MW of PV Solar Modules to Chilean solar company
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