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Stock Market & Financial Investment News

News Breaks
November 9, 2012
05:30 EDTJKSJinkoSolar comments on final ITC rulings on imported Chinese solar products
JinkoSolar Holding commented on the final determination of injury by the U.S. International Trade Commission, or USITC, concerning the anti-dumping duty, or AD, and countervailing duty, or CVD, investigation of imports of crystalline silicon photovoltaic cells and modules from the People's Republic of China. The USITC finally determined that imports of crystalline silicon photovoltaic cells and modules from China "materially injure" a U.S. industry, but the USITC did not make an affirmative determination regarding critical circumstances. As a result, the Company will face AD at 15.42% and CVD at 15.24% for the cells and modules imported into the U.S. after the respective date of the preliminary determinations on AD and CVD were issued by the Department of Commerce. Chairman Xiande Li commented: "We are disappointed with the ITC's final determination on the injury. While the decision was partially favorable to us, we believe that this ruling will have negative effects globally and will ultimately end up hurting consumers. Trade protectionism benefits no one and will only hinder the solar market's development. Despite the circumstances, we remain fully committed to our customers in the U.S. and are prepared to meet our contractual commitments there. As we have stated before, these tariffs are unlikely to have an impact on our business as the U.S. continues to account for a fairly small percentage of our total module shipments. We are still strongly dedicated to the success of JinkoSolar in the U.S.."
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July 18, 2014
12:48 EDTJKSSolar stocks rise after successful IPO in space
Shares of solar energy companies are rising after a solar energy company's subsidiary surged on its first day of trading. WHAT'S NEW: The shares of SunEdison (SUNE) subsidiary TerraForm (TERP) are surging 36% in early afternoon trading. TerraForm Power opened at $33.26 and was trading near $34 per share at midday, after its initial public offering priced at $25 per share. TerraForm was formed to own and operate assets that generate clean power and the company plans to pay dividends. In a note to investors yesterday, Josh Baribeau, an analyst at Canaccord Genuity, wrote that TerraForm is a Yieldco. Subsidiaries of energy companies that own power plants and projects, Yieldcos typically trade on stock exchanges. Noting that TerraForm's IPO had priced at the high end of its expected range yesterday and was well oversubscribed, Baribeau wrote that this outcome reflects the strong demand for Yieldcos among investors. The Yieldcos provide investors with yield which is in high demand in today's low interest rate environment, the analyst stated. Additionally, as a result of the strong demand for Yieldcos' stocks, they provide their parent companies with "cheap and abundant capital," the analyst stated. SunEdison and TerraForm will grow their combined cash available for distributions at a faster rate than their target of 15% over the next three years, helping SunEdison's stock rise, the analyst stated. He kept a $30 price target and Buy rating on SunEdison. WHAT'S NOTABLE: A number of solar energy companies that own solar projects could form Yieldcos, research firm Trefis wrote in a Forbes column last month. Like Canaccord's Baribeau, Trefis believes that Yieldcos provide their parent companies with a cheap source of funding. Yieldcos also distribute most of their cash through dividends, Trefis stated. The firm named First Solar (FSLR) and SunPower (SPWR) as companies that could launch their own Yieldcos. PRICE ACTION: In early afternoon trading, Terraform jumped 36% to $34 and SunEdison was down 1% to $22.76. Meanwhile, First Solar rose 1.4% to $62.29, SunPower climbed 2.7% to $38.71, JinkoSolar gained 2.8% to $26.75, and Canadian Solar (CSIQ) advanced 3% to $28.71.
July 16, 2014
07:12 EDTJKSJinkoSolar signs RMB1B strategic financing agreement with China Minsheng Bank
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