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Stock Market & Financial Investment News

News Breaks
June 4, 2014
11:13 EDTYGE, TSL, JKS, SOLChinese 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
Check below for free stories on YGE;TSL;JKS;SOL the last two weeks.
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July 23, 2014
08:11 EDTYGEYingli Green Energy to supply PV modules to large project in Japan
Yingli Green Energy's (YGE) wholly-owned subsidiary, Yingli Green Energy Japan, has signed an agreement to supply 32 MWs of multicrystalline PV modules to a large-scale project located in Okayama, Japan. The company will deliver approximately 108K YGE 72 Cell Series modules for the project from January 2015 to December 2015. The project is financed by GE (GE) Energy Financial Services.
06:35 EDTSOLReneSola sells 40 energy storage systems to Think Green Energy
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July 22, 2014
08:16 EDTYGEYingli Green Energy opens third Latin American office in Chile
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July 21, 2014
07:28 EDTSOLReneSola enters into agreement with China Seven Star Holdings
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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 17, 2014
08:02 EDTYGEYingli Green Energy to supply PV modules to project in China's Hubei Province
Yingli Green Energy will supply 3 MWs of PV modules to a demonstration project for distributed generation in Wuhan, the capital of Hubei province in eastern China. Construction of the project will begin in September and is expected to be completed within 5 months.
July 16, 2014
07:12 EDTJKSJinkoSolar signs RMB1B strategic financing agreement with China Minsheng Bank
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July 15, 2014
07:04 EDTYGE, TSLWTO says U.S. tariffs on Chinese solar cells against rules, Xinhua reports
The World Trade Organization yesterday ruled that U.S. tariffs on Chinese solar cells violated the rules of the organization, according to Xinhua. China requested that the WTO probe the subsidies in 2012, the news service noted. The WTO also said that U.S. tariffs on Chinese steel products and paper violated the organization's rules, the news service added. Publicly traded solar energy companies include Canadian Solar (CSIQ), First Solar (FSLR), JA Solar (JASO), SunPower (SPWR), Trina Solar (TSL) and Yingli Green Energy (YGE).Reference Link
06:07 EDTYGEYingli Green Energy signs EPC contract with Senelec for 2 MW project
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July 14, 2014
11:16 EDTTSL, YGEWTO finds U.S. violates trade rules with tariffs on Chinese steel, solar panels
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06:10 EDTSOLReneSola files $150M mixed securities shelf
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July 9, 2014
07:03 EDTTSLTrina Solar to supply 200MW PV modules to China's Zonergy
Trina Solar will supply 200MW of modules to Zonergy's downstream projects in China, marking its largest single module supply agreement to date in 2014. Module delivery is expected to be completed in December.

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