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News Breaks
June 4, 2014
11:13 EDTJKS, TSL, SOL, YGEChinese 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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November 25, 2015
06:03 EDTYGEYingli Green Energy sees Q3 revenue $340M-$350M, consensus $355.24M
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November 23, 2015
09:18 EDTTSLOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Tyson Foods (TSN), up 2.4%... Mallinckrodt (MNK), up 7.4%. ALSO HIGHER: Novocure (NVCR), up 16.8% after announcing new Phase 3 data from Optune study... CTI BioPharma (CTIC), up 12.7% after the initiation of its rolling new drug application to the FDA for pacritinib... Peabody Energy (BTU), up 14.8% after announcing an asset sale... Sarepta Therapeutics (SRPT), up 5.2% following a positive mention in Barron's. DOWN AFTER EARNINGS: Trina Solar (TSL), down 5.6%. ALSO LOWER: Par Pacific (PARR), down 13.2% after pricing its 3.4M registered direct offering at $22.00... Lions Gate (LGF), down 2.9% after the "Hunger Games" finale opens below the series average.
07:40 EDTTSLTrina Solar expects to ship 1,500-1,650 MW of PV modules in Q4
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07:37 EDTTSLTrina Solar raises FY15 total PV module shipments to 5.5GW - 5.6GW
The company raised its guidance for 2015 total PV module shipments to 5.5 GW to 5.6 GW from its original guidance of 4.9 GW to 5.1 GW, of which 4.6 GW to 4.7 GW will be shipped to third party customers. The revised guidance represents an increase of 50.3% to 53.0% from 2014.
07:37 EDTTSLTrina Solar reports Q3 total module shipments 1,703.2 MW
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07:36 EDTTSLTrina Solar reports Q3 non-GAAP EPS 21c, consensus 28c
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07:35 EDTTSLTrina Solar delivered over 15GW of solar modules worldwide
Trina Solar announced that its accumulative shipments since 2005 have exceeded 15 GW as of the end of Q3, 2015, marking a significant milestone for the company. Trina Solar's efforts in expanding its presence in key markets across the globe, leveraging on its innovative high-quality solar products, strong sales network and brand recognition, have enabled the company to capture numerous opportunities as solar is becoming one of the world's major sources of electricity. With the support of its worldwide customers, the company has increased its market share from approximately 1% in 2005 to more than 10% anticipated in 2015.
November 20, 2015
06:58 EDTTSLTrina Solar volatility elevated into Q3 and outlook
Trina Solar December call option implied volatility is at 69, January is at 62; compared to its 52-week range of 38 to 91, suggesting large near term price movement into the expected release of Q2 results on November 23.
November 19, 2015
09:16 EDTJKSOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Keurig Green Mountain (GMCR), up 19%... (CTRP), up 11.8%... (CRM), up 5.4%... Perry Ellis (PERY), up 4%. ALSO HIGHER: Celladon (CLDN), up 55.9% after signing a merger agreement with Eiger BioPharmaceuticals... StemCells (STEM), up 45.7% after Phase II Pathway Study data shows motor improvement in SCI patients... UniPixel (UNXL), up 36.1% after receiving an initial mass production order from a Japanese PC manufacturer... Anavex Life Sciences (AVXL), up 16% after announcing preparation of regulatory filings based on guidance from FDA... Plug Power (PLUG), up 3.7% after securing Colruyt Group as its next GenDrive fuel cell customer in Europe. DOWN AFTER EARNINGS: Stage Stores (SSI), down 14.7%... JinkoSolar (JKS), down 7.5%... Best Buy (BBY), down 5.2%... Semtech (SMTC), down 7.5%. ALSO LOWER: AMAG Pharmaceuticals (AMAG), down 8.4% after receiving a complete response letter from the FDA its application seeking approval for a single-dose vial of Makena... Titan International (TWI), down 8.3% after being downgraded to Sell from Neutral at Goldman... Sunedison (SUNE), down 5.5% after Reuters reported that Blackstone (BX) is not interested in SunEdison investment.
06:52 EDTJKSJinkoSolar reports Q3 EPS $1.28, consensus $1.02
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November 17, 2015
07:35 EDTSOLReneSola sees Q4 revenue $275M-$295M, consensus $278.62M
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07:35 EDTSOLReneSola sold 35 MW of projects, project pipeline at 515 MW
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07:34 EDTSOLReneSola reports Q3 EPS 8c, consensus (2c)
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