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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
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August 27, 2014
09:22 EDTYGEOn The Fly: Pre-market Movers
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07:10 EDTYGEYingli Green sees PV model demand in China to accelerate in 2H14
07:09 EDTYGEYingli Green sees FY14 PV model shipment target 3.6GW to 3.8GW
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07:08 EDTYGEYingli Green Energy reports Q2 adjusted EPS (25c), consensus (14c)
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05:41 EDTYGEYingli Green Energy to supply 66 MWp of PV modules for 4 UK projects
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August 26, 2014
13:12 EDTYGE, SOL, TSLTrinaSolar drops after revenue miss, peers follow
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12:24 EDTTSLOn The Fly: Midday Wrap
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09:54 EDTTSLTrina Solar sell-off after earnings overdone, says Cowen
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08:56 EDTTSLOn The Fly: Pre-market Movers
HIGHER: Tim Hortons (THI), up 10.5% after announcing merger agreement with Burger King (BKW), which is up 4% after the news. Burger King CEO Schwartz will become group CEO of the new company and Berkshire Hathaway (BRK.A) has committed $3B of preferred equity financing for the deal... DSW (DSW), up 12% after reporting Q2 earnings beat, FY14 outlook above consensus... Kite Pharma (KITE), up 17% after announcing phase 1-2a results from trial of potential treatment of non-Hodgkin's lymphoma... Mobileye (MBLY), up 4.4% after coverage of stock initiated at several research firms, including Morgan Stanley which started with an Overweight rating and $46 price target and named it a new top pick... Kandi Technologies (KNDI), up 9% following Bloomberg report on Chinese government considering funding for electric car chargers. LOWER: Best Buy (BBY), down 3.7% after reporting Q2 revenue below consensus, Q2 same-store sales decline of 2.7%... Sanderson Farms (SAFM), down 5.9% after Q3 earnings, revenue miss estimates... Movado (MOV), down 5.1% after Q2 revenue miss expectations... DOWN AFTER EARNINGS: Prospect Capital (PSEC), down 3.5%... Trina Solar (TSL), down 7.6%.
07:11 EDTTSLTrina Solar expects to ship 1,060 MW-1,120 MW of PV modules in Q3
In Q3, the company expects to ship between 1,060 MW and 1,120 MW of PV modules, of which 130 MW to 150 MW will be shipped to its downstream PV projects. Revenues will not be recognized for the modules shipped to its own developed projects as required by U.S. GAAP. The company expects its blended gross margin for FY14 to be at mid-teens in percentage terms with slightly lower gross margin expected for Q3. The company reiterates its FY14 guidance of total PV module shipments between 3.6 GW and 3.8 GW, of which 400 MW to 500 MW of PV modules will be shipped to the company's own downstream projects. Revenues will not be recognized for the modules shipped to its own projects as required by U.S. GAAP. The company maintains its guidance of completed downstream PV projects of between 400 MW-500 MW for FY14.
07:09 EDTTSLTrina Solar reports Q2 EPS 14c, consensus 14c
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August 25, 2014
15:18 EDTTSLNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Best Buy (BBY), consensus 31c; Golar LNG (GLNG), consensus (7c); DSW (DSW), consensus 32c; Tech Data (TECD), consensus 77c; Sanderson Farms (SAFM), consensus $3.82; Movado (MOV), consensus 54c; Trina Solar (TSL), consensus 14c.
08:58 EDTJKS, YGE, TSLChances of solar trade deal now over 50%, says Roth Capital
Roth Capital now sees a greater than 50% chance that a compromise will be reached between Chinese solar companies and the U.S. government on trade restrictions, as the firm thinks that all stakeholders in the matter appear to have a sense of urgency to reach a deal by the end of November. Roth, which previously saw a 30%-40% chance that a deal would be made, thinks that discussions on the issue are progressing. It keeps Buy ratings on Canadian Solar (CSIQ), JA Solar (JASO), JinkoSolar (JKS), and Trina Solar (TSL), and a Hold rating on Yingli Green Energy (YGE).
August 22, 2014
07:04 EDTJKSJinkoSolar signs project investment agreement with Hengfeng County
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06:34 EDTYGE, TSLChina not meeting shale gas goals, NY Times says
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August 21, 2014
12:15 EDTJKSJinkoSolar mentioned positively at Northland
07:45 EDTYGEYingli Green Energy to supply 2 MW rooftop solar project in Japan
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07:14 EDTTSLTrina Solar's Duo-Max module receives certifications from UL and TUV Rheinland
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August 20, 2014
07:05 EDTJKSJinkoSolar to supply 40 MW of PV Solar Modules to Chilean solar company
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07:02 EDTSOLReneSola to supply 5.4 MW in solar modules for India utility project
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