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Stock Market & Financial Investment News

News Breaks
March 5, 2014
13:05 EDTTSL, JASO, JKS, CSUN, CSIQSolars 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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December 19, 2014
07:13 EDTCSIQCanadian Solar says 'very disappointed' by U.S. AD/CVD ruling
Canadian Solar, in response to the United States Department of Commerce's Tuesday decision to impose counter-veiling and anti-dumping tariffs on certain Chinese and Taiwanese photovoltaic modules and cell imports, stated: "We are very disappointed by the DOC's decision, and the damaging impact this has on the American solar industry. This decision threatens the employment of tens and thousands of American workers in the various facets of the solar industry, including manufacturing, design, installation and operations. We plan to utilize our 500 MW manufacturing facility in Ontario, Canada to continue our support for solar energy development in the United States. As a Canadian company, however, we firmly believe in free international trade and a market economy with zero trade barriers."
December 18, 2014
07:13 EDTCSIQSolarCity, Canadian Solar called top 2015 solar picks at JPMorgan
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December 17, 2014
06:36 EDTJASO, TSL, CSIQU.S. announces tariffs on Chinese, Taiwanese solar companies, NY Times says
The U.S. announced that it would impose tariffs of 26.7%-78.4% on the imports of most Chinese made solar panels, and tariffs of 11.45%-27.5% on solar cells made in Taiwan, according to The New York Times. Duties of 27.6%-50% will be imposed on modules made in China, the newspaper quoted the Commerce Department as saying. American officials still hope that they can reach a settlement with the Chinese on solar trade issues, the newspaper stated. Publicly traded companies in the space include Canadian Solar (CSIQ), First Solar (FSLR), JA Solar (JASO), SunPower (SPWR), Trina Solar (TSL) and Yingli Green Energy (YGE). Reference Link
December 16, 2014
07:07 EDTCSIQCanadian Solar completes sale of RayLight solar power plant
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December 12, 2014
08:42 EDTCSIQCanadian Solar has reached attractive entry point, says Roth Capital
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07:01 EDTJKSJinkoSolar supplies China General Nuclear Power Group 80 MW of solar modules
JinkoSolar announced that it has supplied 80 MW of solar PV modules to China General Nuclear Power Group for a solar PV project in Neihuang County, Henan Province. Located in Mashang and Liucun, two villages in Neihuang County, Henan Province, the project is being built on the rooftops of traditional agricultural greenhouse. It utilizes 325689 pieces of JinkoSolar's high-efficiency PV modules is expected to be connected to the grid by the end of 2014.
December 8, 2014
09:04 EDTCSIQCanadian Solar management to meet with JPMorgan
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09:01 EDTJASOJA Solar supplies 100MW of modules to solar farm in Pakistan
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06:11 EDTTSLTrina Solar acquires 28% stake in Shuntai Leasing
Trina Solar announced it has entered into a share purchase agreement to acquire a 28% stake in Shuntai Leasing Company Limited. Total registered capital of Shuntai is approximately $50M. Changzhou Hi-tech Jinlong Holdings, a subsidiary of Changzhou Hi-tech Group Co., is the major shareholder of Shuntai. Changzhou Hi-tech Group is one of the largest state-owned companies in Changzhou covering a wide range of businesses including government financing, city development and operation of business enterprises. The group also owns several financing institutions and has raised approximately $5.5B in the past years. Trina Solar has also signed a cooperation agreement with Shuntai to finance the company's downstream projects and solar manufacturing business by leveraging Shuntai's leasing platform.
06:06 EDTCSIQSharp could sell U.S. solar unit to Canadian Solar, Nikkei reports
Sharp (SHCAY) will reportedly sell its U.S.-based solar energy development unit Recurrent Energy to Canadian Solar (CSIQ) for about $250M, The Nikkei said yesterday. Sharp aims to reach a basic agreement Canadian Solar by the end of the month and complete the sale by spring, the report indicated. Reference Link
December 5, 2014
07:01 EDTJKSJinkoSolar' Eagle+ modules reach new height of power output
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