Stock Market & Financial Investment News

News Breaks December 27, 2012 05:07 EDT LDK LDK Solar ordered to pay RMB294M in damages, RMB3.4M in court fees to JYT LDK Solar announced that the China International Economic and Trade Arbitration Commission, or CIETAC, stated that the wafer equipment supply contract entered into in July 2008 between LDK Solar and JYT Corporation of Beijing is valid and effective through the duration and at terms and conditions related to quantities and prices set forth therein. Under this contract, LDK Solar agreed to purchase furnaces used in the manufacturing of multicrystalline and monocrystalline ingots for installation in its manufacturing facilities in Xinyu City, China. On December 25, 2012 CIETAC stated that by virtue of the arbitration proceedings LDK shall pay to JYT an amount of approximately RMB 294M as well as approximately an additional amount of RMB 3.4M to cover arbitral fees accrued as a result of this proceeding. News For LDK From The Last 14 Days Check below for free stories on LDK the last two weeks. Sign up for a free trial to see the rest of the stories you've been missing. June 18, 2013 09:15 EDT LDK China to generate more heat using solar energy, China Daily says Subscribe for More Information June 17, 2013 12:29 EDT LDK On The Fly: Midday Wrap Subscribe for More Information 10:40 EDT LDK Solar stocks jump after China backs industry Chinese solar energy stocks are jumping after the Chinese government ordered power producers and lenders to provide more support to the industry. WHAT'S NEW: China's government announced that electric grid companies should give priority to obtaining power from solar plants, Bloomberg reported on Saturday. Lenders must help Chinese solar companies raise money, the news service also quoted the government as saying. TODAY'S PRICE ACTION: In mid-morning trading, LDK Solar (LDK) rallied 9.5% to $1.50, Suntech Power (STP) jumped 7% to $1, Trina Solar (TSL) surged 7% to $6.35. Yingli Green jumped 10% to $3.18, and Jinko Solar (JKS) climbed 7% to $9.40. WHAT'S NOTABLE: The EU has imposed high tariffs on Chinese solar companies, as it has accused the companies of selling solar panels at artificially low prices. Some EU countries have said that the dispute with China should be resolved quickly. June 15, 2013 15:50 EDT LDK China to boost solar industry with easier financing, Bloomberg says Subscribe for More Information June 13, 2013 06:26 EDT LDK IHS: Europe solar installations to fall to 11.6GW in 2013, DigiTimes says Europe solar installations are expected to fall by more than 6GW in 2013, reports DigiTimes, citing IHS. Anti-dumping duties on China-made modules is expected to cause 1.3GW of that decline. Reference Link June 12, 2013 13:09 EDT LDK IHS still expects solar installations to grow by at least 10% this year European photovoltaic installations are forecast to fall by more than 6 gigawatts, or GW, in 2013, with 1.3 GW of this decline attributed to incoming EU anti-dumping duties on Chinese modules according to a recently released analysis from IHS, the firm disclosed yesterday. Despite this dramatic fall, IHS still predicts global installations will grow at a double-digit rate to 35 GW in 2013 driven by a surge in demand in Asia. In its latest quarterly analysis on global photovoltaic installation demand, IHS cut has cut its forecast for the second half of 2013 in Europe by more than 1.3 GW, citing the anti-dumping tariffs that came into force on June 6. As a result of these duties, and several other factors, including changes to incentive systems, IHS predicts total European PV installations will fall to 11.6 GW in 2013, down 33 percent from 17.7 GW in 2012.Reference Link June 11, 2013 11:46 EDT LDK Solar names fall after LDK highlights polysilicon price weakness Subscribe for More Information 09:16 EDT LDK On The Fly: Pre-market Movers HIGHER: Dole Food (DOLE), up 21.9% after CEO offers buyout at $12 per share... Questcor (QCOR), up 32% after buying rights to develop Synacthen and Synacthen Depot in the U.S. from Novartis (NVS), upgrade to Buy at CRT Capital... CardioNet (BEAT), up 44% after announcing a three-year national provider agreement with UnitedHealthcare Insurance (UNH)... Catamaran (CTRX), up 13.2% after announcing a ten-year strategic pharmacy benefits deal with Cigna (CI)... Sprint (S), up 2% after Softbank (SFTBF) increases buyout offer terms. Clearwire (CLWR) up 1.2%. LOWER: lululemon (LULU), down 14.9% after reporting earnings, CEO announces plans to step down, stock downgraded at Sterne Agee and UBS... Texas Instruments (TXN), down 2% after narrowing second quarter revenue, earnings forecast ranges... Corinthian Colleges (COCO), down 15.4% after disclosing the receipt of a subpoena from the SEC. Corinthian peer Career Education (CECO) 5.5%... Kinross Gold (KGC), down 5.5% after canceling development project in Ecuador, taking $720M charge, stock downgraded at Canaccord. DOWN AFTER EARNINGS: LDK Solar (LDK), down 8.5%. 08:44 EDT LDK LDK Solar drops 8% to $1.50 after Q1 earnings miss 08:43 EDT LDK LDK Solar took write-down of $15.1M for market price weakness LDK Solar said earlier in its earnings release that during the preparation of its Q1 financial results, management determined that an inventory write-down of $15.1M was required as a result of a continuous weakness in market price for polysilicon, wafers, cells and modules caused by industry-wide over capacity and much heated market competition. As a result, gross margin and results from operations were negatively impacted in Q1. Gross margin for Q1 was negative 57.0%, compared to negative 71.4% in Q4, and negative 65.5% in the first quarter of fiscal 2012. 08:40 EDT LDK LDK Solar sees Q2 revenue $100M-$150M, consensus $138.3M Subscribe for More Information 06:16 EDT LDK LDK Solar reports Q1 EPS ($1.21), one estimate (96c) Reports Q1 revenue $104.3M, one estimate $97.2M. June 10, 2013 15:34 EDT LDK Notable companies reporting before tomorrow's open Notable companies reporting before tomorrow's open, with earnings consensus, include LDK Solar (LDK), one estimate (96c); Medical Action (MDCI), consensus 10c; National Technical (NTSC), one estimate 11c. June 6, 2013 16:25 EDT LDK LDK Solar: At EGM shareholders approved both resolutions proposed in notice Subscribe for More Information 09:45 EDT LDK China to up solar subsidies in face of EU tariffs, Want China Times says In response to anti-dumping tariffs imposed by the European Commission, the Chinese government will introduce new strategies and increase the amount of subsidies available for its domestic solar industry, reported Want China Times, citing the Chinese-language Commercial Times. Reference Link June 5, 2013 09:45 EDT LDK EU imposes tariffs on Chinese solar companies, Guardian reports Subscribe for More Information Sign up for a free trial to see the rest of the stories you've been missing.