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Stock Market & Financial Investment News

News Breaks
June 4, 2014
11:13 EDTSOL, YGE, JKS, TSLChinese solar stocks fall following tariff decision
Shares of Chinese solar stocks are tumbling after the U.S. Commerce department made a preliminary decision on tariffs on a variety of Chinese solar products. Two research firms differed on the impact of the tariffs on the companies. WHAT'S NEW: The Commerce Department announced that it would impose duties of 18.5%-35% on imports of many Chinese solar energy products. The department closed a loophole by imposing the tariffs on products whose main parts come from China, but are assembled in other countries. Previous tariffs imposed in 2012 had not been applied to Chinese solar products that were assembled in and shipped from other countries, according to The Wall Street Journal. While today's move by the Commerce Department is preliminary and is subject to changes later this year, the U.S. will begin collecting the tariffs before their decision is made permanent, The New York Times reported. ANALYST REACTION:In a note to investors earlier today, Credit Suisse analyst Patrick Jobin wrote that the duties were worse than expected, as the market had foreseen tariffs of 10%-15% would be imposed. Additionally, the scope of the duties is worse than expected, as anything related to China-made solar cells or modules is subject to the charges, Jobin stated, noting that the market had expected only cells assembled in Taiwan to be targeted. The news is negative for Chinese solar companies Yingli Green Energy, (YGE) Trina Solar (TSL), JinkoSolar (JKS), ReneSola (SOL), and JA Solar (JASO), Jobin believes. Trina Solar and Yingli Green are among the Chinese companies most exposed to the U.S. market, and the latter company is in a particularly precarious position, given its constrained balance sheet, the analyst contended. Less pessimistic on the outlook for the Chinese solar companies was Northland Securities analyst Colin Rusch. The ruling is "negative but not that bad," he wrote. It should lower Canadian Solar's (CSIQ) EPS by 5c-10c and it should have a similar impact on JA Solar, the analyst estimated. He kept Outperform ratings on both stocks. Meanwhile, JinkoSolar's existing cost advantage will actually be boosted by over 30% as a result of the ruling, Rusch estimated. PRICE ACTION: In mid-morning trading, JinkoSolar fell 4.9% to $25.70, ReneSola gave back 4.8% to $2.20, Yingli Green tumbled 4.8% to $2.81, Canadian Solar dropped 5.2% to $23.78, and JA Solar was down 0.6% to $9.82.
News For YGE;TSL;JKS;SOL From The Last 14 Days
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July 2, 2015
07:42 EDTSOLReneSola sells 6.4 MW utility scale project in the U.K.
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July 1, 2015
07:30 EDTTSL, YGEDrop is Solar stocks a buying opportunity, says Deutsche Bank
Deutsche Bank analyst Vishal Shah attributes the recent weakness in the Solar space to investor concerns around increased interest rate and growth uncertainty, especially of YieldCos. Shah, however, views YieldCos as a significant growth catalyst for the solar and broader renewables sector. The analyst expects the current weakness to provide an attractive entry point for longer term investors. 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).
June 30, 2015
07:37 EDTYGEYingli Green Energy completes bond financing $3.2M for solar project
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June 29, 2015
09:06 EDTJKSJinkoSolar considering privatization, says Roth Capital
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June 24, 2015
07:35 EDTYGEYingli Green Energy to supply 40 MW of solar panels to Honduras' Sybac Solar
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