24/7 Wall St. » CSUN

24/7 Wall St. Closing Bell (CHK, ENB, LULU, NTAP, QCOM, CSUN, DCI, GME, HP, SJM, SHLD, DLTR, ZOLL, ANGI, RMBS, VIAS, DQ)

Paul Ausick — Thu, 17 Nov 2011 21:11:52 +0000

Traders started off this morning on a bit of a selling spree, but for most of the morning the indexes were roughly flat. In the afternoon, however, selling picked up and all indexes were down sharply by the last hour of trading. A good report on new unemployment claims and some good news on new housing starts and building permits did nothing to put a positive jolt into trading. Gold closed down -3%, at $1,720.20 and silver finished at $31.50, down -7%. Crude oil slid about -3% as well and looks like it will close below $100/barrel today.The unofficial closing bells put the DJIA down nearly 135 points to 11,770.80 (-1.13%), the NASDAQ fell more than 51 points (-1.96%) to 2,587.99, and the S&P 500 fell -1.67% or more than 20 points to1,216.18.There were several analyst upgrades and downgrades today, including Chesapeake Energy Corp. (NYSE: CHK), which was cut to ‘sell’ at Argus. Other action included Enbridge Inc. (NYSE: ENB) raised to ‘buy’ at TD; Lululemon Athletica Inc. (NASDAQ: LULU) raised to ‘buy’ at Stifel Nicolaus; NetApp, Inc. (NASDAQ: NTAP) cut to ‘neutral’ at Collins Stewart; and Qualcomm Inc. (NASDAQ: QCOM) reiterated as ‘buy’ with a $74 target at Canaccord Genuity. See our story on Enbridgeand its acquisition of a pipeline to transport crude oil to the Gulf Coast.Here are today’s big post-earnings news reactions with prices during the last half-hour of trading: China Sunergy Co. Ltd. (NASDAQ: CSUN) is down about -4.6%, at $0.89; Donaldson Co. Inc. (NYSE: DCI) is down more than -4%, at $65.29; Game Stop Corp. (NYSE: GME) is down more than -3%, at $21.79; Helmerich & Payne Inc. (NYSE: HP) is down about -3%, at $53.63; The J.M. Smucker Co. (NYSE: SJM) is down about -2%, at $71.69; Sears Holdings Corp. (NASDAQ: SHLD) is down about -4.7%, at $65.11; and Dollar Tree Inc. (NASDAQ: DLTR) is up a fraction, at $76.09.

Several other standouts from today are as follows…

Zoll Medical Corp. (NASDAQ: ZOLL) is up nearly 23%, at $43.80. The medical equipment maker beat quarterly earnings estimates and announced a $50 million stock buyback program.

Angie’s List Inc. (NASDAQ: ANGI) is up more than 25%, at $16.32. The company had its IPO today, and shares have risen briskly from the $13 offering price.

Rambus Inc. (NASDAQ: RMBS) is up more than 23%, at $8.78. The company’s shares were torched yesterday following an adverse ruling in a patent case. Today’s comeback will help, though its a long ways back to the $18 level the stock was trading at yesterday morning.

Viasystems Group Inc. (NASDAQ: VIAS) is up more than 22%, at $18.25. The company withdrew a proposed offering of 4 million shares.

Daqo New Energy Corp. (NYSE: DQ) is down about -19%, at $1.82, after setting a new 52-week low earlier today. The company’s CFO will leave the company at the end of this month. Shares fell -3% early this week when the solar PV company missed earnings estimates.

Stay tuned for Friday. New York Federal Reserve Bank president William Dudley is speaking tomorrow morning and Dallas Federal Reserve Bank president Richard Fisher is speaking tomorrow afternoon. Here’s a list of other noteworthy events (all times Eastern):

10.00 a.m. – Conference Board index of leading economic indicators

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: ANGI, CHK, CSUN, DCI, DLTR, DQ, ENB, GME, HP, LULU, NTAP, QCOM, RMBS, SHLD, SJM, VIAS, ZOLL

Top Active Trader Alert Stocks (CSUN, DSCM, MU)

247wallst — Thu, 24 Mar 2011 12:52:49 +0000

Active traders and day traders have many stocks to choose from this Thursday morning. We are tracking news and moves in shares of China Sunergy Co., Ltd. (NASDAQ: CSUN), Drugstore.com, Inc. (NASDAQ: DSCM), and Micron Technology, Inc. (NASDAQ: MU).

China Sunergy Co., Ltd. (NASDAQ: CSUN) is up 15% before market open to $4.56, relative to a 52-week range of $3.40-$4.99. The company posted 4Q earnings above street expectations.

Drugstore.com, Inc. (NASDAQ: DSCM) is up 112% premarket on heavy volume to $3.81, near a 52-week high of $3.95. Walgreen has agreed to buy the website company for $429 million.

Micron Technology, Inc. (NASDAQ: MU) is up 6.5% premarket to $11.30, relative to a 52-week range of $6.36-$11.95. The company released a positive 2Q report.

Filed under: Pre-Market Activity, Trading Alert Tagged: CSUN, DSCM, MU

Top Active Trader Alert Stocks (BUCY, CSUN, GTSI, ISLN, RINO)

247wallst — Mon, 15 Nov 2010 13:43:23 +0000

Active traders and day traders have many stocks to choose from this Monday morning. We are tracking news and moves in shares of Bucyrus International Inc. (NASDAQ: BUCY), China Sunergy Co., Ltd. (NASDAQ: CSUN), GTSI Corp. (NASDAQ: GTSI), Isilon Systems, Inc. (NASDAQ: ISLN), and RINO International Corporation (NASDAQ: RINO).

Bucyrus International Inc. (NASDAQ: BUCY) has jumped nearly 30% pre-market to $90.35, well above its 52-week range of $45.04-$75.08 after Caterpillar announced it would acquire the company.

China Sunergy Co., Ltd. (NASDAQ: CSUN) is up after a promising 3Q earnings call this morning.

GTSI Corp. (NASDAQ: GTSI) is up on strong 3Q profits.

Isilon Systems, Inc. (NASDAQ: ISLN) is one of today’s biggest pre-market gainers, posting nearly a 30% jump to $34.11. It was just announced that the company would be acquired by EMC.

RINO International Corporation (NASDAQ: RINO) is down pre-market to $9.50, below its previous low of $10.26.

Filed under: Pre-Market Activity Tagged: BUCY, CAT, CSUN, GTSI, ISLN, RINO

Top Day Trader Alerts (CSUN, DNDN, GS, MFE, PWER, RPRX)

Administrator — Fri, 30 Apr 2010 13:04:52 +0000

These are six of the biggest movers this morning in pre-market trading:

China Sunergy Co. Ltd. (NASDAQ: CSUN) is up as it didn’t get the memo about slower growth in solar. Earnings were $0.18 EPS vs. $0.10 estimates and revenues rose 180 to $104.3 million versus $91.6 million expected (Thomson Reuters estimates). Shares are up over 10% at $4.99 on 120,000 shares.

Dendreon Corp. (NASDAQ: DNDN) is seeing a day-two run after traded up to over $50 yesterday on the PROVENGE FDA approval for advanced prostate cancer. Shares are indicated up this morning as well by 7% at $53.70 on 1.4 million shares. The new 52-week high from yesterday varied from sources last night, but the figure we are using is $54.58.

Goldman Sachs Group Inc. (NYSE: GS) is in the soup on two bits of news. One is new, one is a continuation you could have assumed was on its way. Goldman is one of about 40 large financial and banking firms that will have to defend against claims that they all conspired to rig bids for municipal investment contracts in California. The continuation news is along the lines of the SEC charges as federal prosecutors have also reportedly opened a criminal probe into whether or not Goldman Sachs or its employees committed mortgage-related securities fraud. Shares are down 5.4% at $151.62 on over 1 million shares. The intra-day lows since the SEC issue first hit was $150.15 on April 27.

McAfee, Inc. (NYSE: MFE) was down after earnings and noting that many orders were pushed out into Q2 or Q3. Analysts downgraded it as well: Cut to Market Perform at Wells Fargo; FBR Cut its target to $44. Shares are down 11% at $35.20 on about 35,000 shares.

Power-One, Inc. (NASDAQ: PWER) is soaring after earnings: Revenue rose 56% to $152 million; net income was $3.8 million and $0.04 EPS. More importantly, bookings rose almost 500% year-over-year to $453 million. Shares are up 21% at $6.99 on only about 50,000 shares. Mark that as a 52-week high, with the prior trading range of $1.08 to $5.90.

Repros Therapeutics Inc. (NASDAQ: RPRX) is up big on FDA news. Repros received FDA advice on its Proellex trial design, an indication that the FDA may lift its clinical hold. Shares are up 23% at $1.07 on over 900,000 shares. The 52-week range is $0.61 to $8.30, so this could be a problem reversal trade for traders.

You can join our free daily email distribution list to hear more about dividend trends, analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Sponsor: 3 Recovery Stocks to Own Now – Get the names of the best cheap stocks to rebuild your wealth in 2010 and beyond.

Filed under: Pre-Market Activity, Trading Alert Tagged: CSUN, DNDN, GS, MFE, PWER, RPRX

Chinese Solar Stocks Take Off (YGE, JASO, CSIQ, STP, TSL)

247wallst — Tue, 26 Jan 2010 19:23:44 +0000

Chinese Solar stocks, as measured by Tickerspy’s Chinese Solar Stocks Index (*CHSOL), are up over 4.5% today. The solar sector has performed poorly in recent weeks as a policy shift in Germany, the world’s largest solar market, will be reducing the country’s feed-in-tariff that promote the use of solar power. Today, the Christian Social Union, a major German political party, announced that will push for a delay in reducing incentives to use solar power, a move has driven up shares in nearly every publicly traded solar company.

Chinese solar stock, in particular, have performed well. Chinese companies are better equipped to withstand a more competitive market for solar power in Germany due to their low cost of production. Today Jefferies & Co. analysts Paul Clegg upgraded the entire Chinese solar industry. Yingli Green Energy Hold. Co. (NYSE: YGE) rose the most out of the group, gaining over 6.7% today.

Garrett W. McIntyre

Posted in Analyst Calls Tagged: CSIQ, CSUN, energy, Germany, JASO, JEF, LDK, SOL, Solar, SOLF, STR, TSL, YGE

Analysts Duel Over Solar Stocks (ASTI, CSUN, ENER, ESLR, FSLR, SFUN, STP, SPWRA, YGE)

247wallst — Fri, 21 Aug 2009 12:26:06 +0000

Jefferies has made some key downgrades in the solar sector this morning. There are few other calls that were upgrades from rival firms, but the downgrade seems to be more front and center as it was a sector call.

Ascent Solar (NASDAQ:ASTI) Cut to Underperform at Jefferies.
China Sunergy (NASDAQ:CSUN) Cut to Underperform at Jefferies.
Energy Conversion (NASDAQ:ENER) Cut to Underperform at Jefferies.
Evergreen Solar (NASDAQ: ESLR) Cut to Underperform at Jefferies.
First Solar (NASDAQ: FSLR) Cut to Hold at Jefferies.
SolarFun Power (NASDAQ: SFUN) Cut to Underperform at Jefferies.
SunPower (NASDAQ: SPWRA) Raised to Buy at Merriman Curhan Ford; Cut to Hold at Jefferies.
Suntech Power (NYSE: STP) Cut to Underperform at Jefferies; Cut to Neutral at Cowen.
Yingli Green Energy (NYSE: YGE) Raised to Overweight at HSBC.

JON C. OGG
AUGUST 21, 2009

Posted in Alternative Energy, Analyst Calls Tagged: ASTI, CSUN, ENER, ESLR, FSLR, SFUN, SPWRA, STP, YGE

Solar Subsidy Realities Sink In (LDK, STP, TSL, CSUN, JASO)

247wallst — Wed, 22 Jul 2009 14:32:46 +0000

The excitement in solar shares yesterday is already being met by selling and quick profit taking this morning. Yesterday’s news of the China subsidy that may bring in another 500-MW over the next two years or more may have more bark than bite. Of course this is far from bad news. But major players from China are giving back the gains as the realities of the news set in. LDK Solar Co. Ltd. (NYSE: LDK), Suntech Power Holdings Co. Ltd. (NYSE: STP), Trina Solar Ltd. (NYSE: TSL), China Sunergy Co. Ltd. (NASDAQ: CSUN), and JA Solar Holdings, Co., Ltd. (NASDAQ: JASO) are mostly lower.

Wuxi, China-based Suntech Power Holdings Co. Ltd. (NYSE: STP) is up by 0.6% at $17.91 after a near-10% gain yesterday, and its 52-week range is $5.09 to $48.64.

Xinyu City, China-based LDK Solar Co. Ltd. (NYSE: LDK) is down by almost 4% to $10.46 after a 15% gain yesterday, and its 52-week range is $3.75 to $52.40.

Changzhou-based Trina Solar Ltd. (NYSE: TSL) is down by 2.2% to 28.31 after a 9% gain yesterday, and its 52-week range is $5.61 to $34.92.

Nanjing, China-based China Sunergy Co. Ltd. (NASDAQ: CSUN) is down 3% to $4.78 after a 14% gain yesterday, and its 52-week range is $1.33 to $12.31.

Shanghai-based JA Solar Holdings, Co., Ltd. (NASDAQ: JASO) is down the most by almost 6% to $4.60 after a 7% gain yesterday, and its 52-week range is $1.55 to $18.48.

The reason these are lower again is not that the China subsidy is bad news. The problem is that we now have two trailing quarters of lower PV prices, lower production, lower organic demand, and lowering of estimates. This China subsidy will offer some aid. That aid might not get there into the earnings and production until what seems to be the earliest time of late into calendar Q4-2009 or well into 2010.

We still think that solar stocks are more dependent today upon the price of oil than they are dependent upon organic orders that come with or without subsidies.

Jon C. Ogg
July 22, 2009

Posted in ADR, Alternative Energy, China, Green Biz, Politics Tagged: CSUN, JASO, LDK, STP, TSL

Will China Subsidies Save Solar Stocks? (LDK, STP, TSL, CSUN, JASO, FSLR, WFR, SPWRA, ENER, SOLR, CSIQ)

247wallst — Tue, 21 Jul 2009 22:09:03 +0000

If you saw how solar power stocks ran up today, you might think it was tied to higher energy prices from last week. But the news that that ran shares is that the Chinese government plans to offer what appears to be some rather high subsidies for solar projects. Due to the sizes and location of the Chinese companies and the desire for China to help Chinese companies, it seems that LDK Solar Co. Ltd. (NYSE: LDK), Suntech Power Holdings Co. Ltd. (NYSE: STP), Trina Solar Ltd. (NYSE: TSL), China Sunergy Co. Ltd. (NASDAQ: CSUN), and JA Solar Holdings, Co., Ltd. (NASDAQ: JASO) would be the largest beneficiaries. Today is proof that many others can win outside of earnings news during earnings season.

The Golden Sun program is a solar subsidy that will fund up to half of an investment for on-grid projects and as much as 70% of an investment for remote areas that are not on the grid. The size of the subsidy could generate another 500 megawatts in as short as two years. The only problem U.S. as companies that buy cheaper dirty power and continue to cut costs are not eligible for the deal.

As you will see, it is the players with the largest presence in China which performed the best:

Xinyu City, China-based LDK Solar Co. Ltd. (NYSE: LDK) rose by 15% to $10.88.
Wuxi, China-based Suntech Power Holdings Co. Ltd. (NYSE: STP) rose almost 10% to $17.80.
Changzhou-based Trina Solar Ltd. (NYSE: TSL) rose by 9.6% to $28.95.
Nanjing, China-based China Sunergy Co. Ltd. (NASDAQ: CSUN) rose 14% to $4.93.
Shanghai-based JA Solar Holdings, Co., Ltd. (NASDAQ: JASO) rose 7% to $4.88.

The US-leader, First Solar Inc. (NASDAQ: FSLR), finally had a solid day as its stock was up almost 6% at $155.40. MEMC Electronic Materials Inc. (NYSE: WFR) also rose by 5% to $20.31. SunPower Corporation (NASDAQ: SPWRA) rose by 4.4% to $24.09.

Energy Conversion Devices, Inc. (NASDAQ: ENER) was a dud today as shares were only up 0.6% at $12.84. Its shares are still very close to 52-week lows of $11.83. Another laggard was GT Solar International, Inc. (NASDAQ: SOLR), which makes solar making equipment, with shares up 0.2% at $5.34.

Canadian Solar Inc. (NASDAQ: CSIQ) is Canadian but it also implements solar power development projects in conjunction with government organizations for power generation in rural areas of China. Its shares rose 4.75% to $14.12.

We do not want to completely pan today’s developments. This is a good thing. But we also do not want to get tricked into believing that major growth is going to come flying back in right as many of these companies tart to report earnings over the next week. The Obama-subsidy has yielded nothing yet as many companies are waiting for more or are opting for the cheaper prices of dirty energy right now. As financing is rough and as cap-ex spending is still very week, we expect this earnings season to weed out the men from the boys in the solar stocks.

JON C. OGG
JULY 21, 2009

Posted in ADR, Alternative Energy, China, Green Biz, Politics Tagged: CSIQ, CSUN, ENER, FSLR, JASO, LDK, SOLR, SPWRA, STP, TSL, WFR

More Losses in the Chinese Solar Space (CSUN, CSIQ, YGE)

247wallst — Wed, 27 May 2009 13:08:08 +0000

Another Chinese maker of PV solar cells, China Sunergy Co., Ltd. (NASDAQ:CSUN), has reported a loss for the first quarter of 2009. The company’s net loss per diluted ADS came to -$0.40. On a non-GAAP basis the loss was -$0.33, worse than analysts’ expectations of -$0.26. Revenues were down 14.4% sequentially, to $37 million, just a little below expectations of $36.46 million. These numbers are even weaker than those posted by Canadian Solar Inc. (NASDAQ:CSIQ) and Yingli Green Energy Holding Company Limited (NYSE:YGE).

Operationally, the company can’t seem to get it right. Shipments for the quarter were almost 70% higher than in the fourth quarter of 2008, but the average selling price fell so far that margins turned negative. But the company is used to that: the negative gross margin in the fourth quarter of 2008 was 33.1%, worse even that the first quarter negative margin of 23.7%. That kind of performance might lead to a change in management in any other country but China.

China Sunergy expects to ship 35-40 megawatts of production in the second quarter at a positive gross margin “in the low single digits.” No word on net margins, but don’t expect a positive result there. For the full year, the company reiterated guidance of 150-200 megawatts of capacity and gross margin of 15%-20% for the second half of the year.

China Sunergy shares are off about 7.5% in pre-market trading, at $3.58. The company’s 52-week trading range is $1.33-$12.55.

Paul Ausick
May 27, 2009

Posted in ADR, Alternative Energy, China, Earnings, Green Biz Tagged: CSIQ, CSUN, YGE

Barclays Initiates Solar Power Stocks (YGE, SOLF, CSUN, LDK, SOL, TSL)

Administrator — Mon, 09 Feb 2009 13:42:21 +0000

Barclays Capital initiated coverage of several stocks in the solar energy sector this morning. Most of these ratings are cautious, although there was at least one positive call in the solar sector.

Yingli Green Energy (YGE) was rated overweight. Solarfun Power (SOLF) was started as underweight. China Sunergy (CSUN), LDK Solar (LDK), ReneSola (SOL), and Trina Solar (TSL) were all started as equal weight.

Jon C. Ogg

February 9, 2009

Posted in Alternative Energy, Analyst Calls Tagged: Alternative Energy, CSUN, LDK, SOL, solar power, solar stocks, SOLF, TSL, YGE