Posts for Ticker ‘GU’

Top 10 Pre-Market Analyst Upgrades (CCJ, EDS, GENZ, GU, QCOM, STLD, RIG, VRSN, WB, XNPT)

These are not all of the upgrades we have seen so far this morning, but here are ten of the top positive analyst calls we have seen so far early this Tuesday morning:

  • Cameco (NYSE: CCJ) raised to Outperform at FBR.
  • Electronic Data Systems (NYSE: EDS) Raised to Neutral from Sell at Goldman Sachs.
  • Genzyme (NASDAQ: GENZ) started as Buy at UBS.
  • Gushan Environmental (NYSE: GU) Raised to Buy at Piper Jaffray.
  • Qualcomm (NASDAQ: QCOM) Started as Buy at Citigroup.
  • Steel Dynamics (NASDAQ: STLD) Raised to Buy from Neutral at UBS.
  • Transocean (NYSE: RIG) Raised to Overweight from Neutral at JPMorgan.
  • VeriSign (NASSDAQ: VRSN) Raised to Outperform from Neutral at Baird.
  • Wachovia (NYSE: WB) Raised to Neutral from Underperform at Merrill Lynch.
  • XenoPort (NASDAQ: XNPT) Raised to Outperform from Market Perform at FBR.

Jon C. Ogg
July 9, 2008

Posted on: July 9, 2008 – 6:26 am in Analyst Calls, , , , , , , , , ,

Gushan Insiders Already Cashing Out (GU)

Gushan Environmental Energy Limited (NYSE: GU) has filed to sell up to $100 million in ordinary shares, which it notes as having a HK$0.0001 par value (HONG KONG).  This notes that selling shareholders are selling ADS’s, with each share representing 2 ordinary shares.

This is an unspecified number of shares but based upon a closing price of $11.78 (-6.5% today) of nearly 8.5 million shares.  Gushan will not receive any of the proceeds from this offering.

The underwriting group here is rather large for a $100 million secondary offering.  Merrill Lynch is the lead underwriter; co-managers are listed as Oppenheimer, Piper Jaffray, and as Ardour Capital Investments. 

Gushan is supposed to be the largest biodiesel producer in China as measured by annual production capacity with a target of annual production capacity to 400,000 tons by the end of 2008.

Shares are down 0.5% at $11.72 in after-hours trading and the market cap as of the close was $982 million.  Gushan has only been public since December 2007 and it traded under $10.00 at the open.  Its post-IPO trading range since the IPO has been $7.00 to $17.95.

Jon C. Ogg
June 23, 2008

Posted on: June 23, 2008 – 4:13 pm in Alternative Energy, China, Secondary Offering,

Top 10 Pre-Market Analyst Calls (GFIG, GU, HTZ, MBT, NSM, PM, SGP, TOC, TIBX, VOD)

These are not all of the calls we are seeing this morning, but these are the top analyst calls we see affecting shares in pre-market trading this Monday morning:

  • GFI Group (NASDAQ: GFIG) started as Market Perform at KBW.
  • Gushan Environmental Energy (NYSE: GU) downgraded to Neutral from Buy at Piper Jaffray.
  • Hertz Global (NYSE: HTZ) downgraded to Neutral from Buy at UBS.
  • Mobile Telesystems (NYSE: MBT) raised to Outperform at Credit Suisse.
  • National Semiconductor (NYSE: NSM) started as Market-weight at Thomas Weisel.
  • Philip Morris International (NYSE: PM) started as Overweight at Lehman.
  • Schering-Plough (NYSE: SGP) downgraded to Equal-weight from Overweight at Lehman Brothers.
  • Thomson (NYSE: TOC) downgraded to Hold from Buy at Deutsche Bank.
  • TIBCO Software (NASDAQ: TIBX) downgraded to Underperform from Hold at Jefferies.
  • VODAFONE (NYSE: VOD) downgraded to Underweight at Morgan Stanley.

Jon C. Ogg
March 31, 2008

Posted on: March 31, 2008 – 6:18 am in Analyst Calls, , , , , , , , , ,

Top 10 Pre-Market Analyst Calls (BAX, BRK/A, BRK-A, EAT, GU, HTX, INFY, ISRG, SAT, SBUX, WIT)

These are not the only impact analyst calls this Tuesday, but these are the ones 247WallSt.com is focusing on in early pre-market trading:

  • Baxter (BAX) raised to Buy from Hold at Citigroup.
  • Berkshire Hathaway (BRK-A) started as HOLD at Citigroup.
  • Brinker (EAT) downgraded to Underweight from Hold at Keybanc.
  • Gushan Environmental Energy (GU) started as Buy at Soleil.
  • Hutchison Telecom (HTX) raised to Buy from Sell at Citigroup.
  • Infosys (INFY) raised to Overweight from Equal-Weight at Lehman.
  • Intuitive Surgical (ISRG) downgraded to Market Perform from Outperform at Wachovia.
  • Satyam Computer (SAY) raised to Overweight from Underweight at Lehman.
  • Starbucks (SBUX) raised to Neutral from Sell at Banc of America.
  • Wipro (WIT) raised to Overweight from Underweight at Lehman.

Jon C. Ogg
January 8, 2008

Posted on: January 8, 2008 – 7:44 am in Analyst Calls, , , , , , , , , , ,

China’s Gushan Environmental’s IPO Already Debuts On NYSE (GU)

Some IPO’s make it to market pretty fast in several weeks and some take many months.  The largest Chinese biodiesel producer called Gushan Environmental (NYSE: GU) is already coming to market today.  We just noted its filing on December 4.  This may be one of the fastest IPO’s from the filing date on record.

The company set 18 million shares at $9.60 per share, but this is under the original range of $11.50 to $13.50.  Merrill Lynch was the lead underwriter in the syndicate and co-managers were listed as CIBC World Markets and Piper Jaffray.

The company is profitable and plans to more than double its production by the end of next year.   China & biodiesel… This might make you wonder why its pricing was sub-par.

Jon C. Ogg
December 19, 2007

Posted on: December 19, 2007 – 9:44 am in Alternative Energy, China, IPOs, Oil & Gas, , ,

IPO Filing: Gushan Environmental, Biodeiesel & In China (GU)

After yesterday’s close, there was quite an interesting IPO filing with the buzz that may ring in many ears: enter Gushan Environmental Energy Limited….. Gushan Environmental is biodiesel player for the alternative energy investors, and based in China for the China-investors.   

The nominal amount of the filing is for $250 million and the company will take the proposed ticker "GU" on the NYSE.  Merrill Lynch has been tapped as the lead underwriter in the syndicate and co-managers are listed as CIBC World Markets and Piper Jaffray.  So, take a look at the description and you will see what the potential excitement is:

  • China’s largest biodiesel producer as measured by annual production capacity in 2006 by Frost & Sullivan…..
  • One of the first commercial biodiesel producers in China; commenced operations in 2001 predecessor company, Sichuan Gushan Vegetable Fat Chemistry Co., Ltd., or Sichuan Gushan).
  • Aggregate annual biodiesel production capacity increased from 40,000 tons in 2004 to 70,000 tons, 170,000 tons and 190,000 tons as of 2005, 2006 and 2007, respectively.
  • Produced and sold 36,045, 61,119 and 158,994 tons of biodiesel in 2004, 2005 and 2006, respectively, and 136,587 tons of biodiesel in the nine months ended September 30, 2007. REVENUES: revenues and net income increased substantially during the same period…. generated revenues of RMB172.2 million, RMB360.8 million and RMB824.5 million (US$110.0 million) in 2004, 2005 and 2006, respectively, representing a compound annual growth rate, or CAGR, of 118.8%, and generated revenues of RMB736.4 million (US$98.3 million) for the nine months ended on September 30, 2007.
  • Net income of RMB74.2 million, RMB152.5 million and RMB332.8 million (US$44.4 million) in 2004, 2005 and 2006, respectively, representing a CAGR of 111.8%, and recorded net income of RMB250.1 million (US$33.4 million) for the nine months ended on September 30, 2007.
  • TARGET: to increase annual production capacity to 400,000 tons by the end of 2008.

We frequently discuss more detailed and IPO previews with back door plays for our open email distribution list if you wish to join.

Jon C. Ogg
December 4, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he produces the 24/7 Wall St. Special Situation Investing Newsletter and he does not own securities in the companies he covers.

Posted on: December 4, 2007 – 12:47 pm in ADR, Alternative Energy, China, IPOs, , , ,