Posts for Ticker ‘TAN’

First Solar Earnings Get Valuation Check (FSLR, TAN, KWT, ENER)

Solar Roof ImageWe have long said that this Q3 period was likely to separate the men from the boys in the solar sector.  Unfortunately, none of the men looked stronger than the boys.  Tonight’s earnings report out of First Solar Inc. (NASDAQ: FSLR) only reiterates the notion that solar power companies are in many ways just leveraged bets on the price of oil.  First Solar posted $1.79 EPS on $480.9 million in revenues (excluding the Sarnia project with $58 million not recognized in Q3).  Thomson Reuters had estimates pegged at $1.74 EPS and $528.78 million in revenues.  The company noted a cost per watt drop of 2.3%, but the gross margin dropped faster by 5.8%.  And there are other reasons to be cautious here.

First Solar is roughly 11% of the key solar ETF in the Claymore/MAC Global Solar Energy (NYSE: TAN), and that is down 3.7% at $8.32 in the after-hours session.  The Market Vectors Solar Energy ETF (NYSE: KWT) is much thinner in trading volume and is indicated lower without much volume, but First Solar is about 8.6% of its weighting.  Many have hoped for a recovery in Energy Conversion Devices, Inc. (NASDAQ: ENER), but that is down almost 4% at $11.02 in the after-hours session and that is on the heels of a 4.5% drop during the normal trading session.
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Posted on: October 28, 2009 – 4:42 pm in Alternative Energy, Earnings, Green Biz, , , ,

First Solar Kills Estimates, But Mute on Guidance (FSLR, TAN)

Solar Panel PicFirst Solar, Inc. (Nasdaq: FSLR) has just given its earnings report.  The solar leader in the U.S. reported its revenues were $525.9 million.  While this is up from $418.2 million in the first quarter of 2009 and up from $267.0 million in the quarter a year ago, this is a substantial win over the $459.12 million estimates from Thomson Reuters.

Net income for the second quarter came to $180.6 million, or $2.11 EPS. This is above the $1.99 EPS a quarter ago and well above the $0.85 a year ago, but the Thomson Reuters estimate was a mere $1.62 EPS per share on a fully diluted basis for the second quarter of fiscal 2008.
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Posted on: July 30, 2009 – 4:14 pm in Alternative Energy, Earnings, Green Biz, ,

When Solar Leaders Fall More Than Oil Giants… On Oil (FSLR, STP, SPWRA, TAN, XOM, SLB, OIH)

Solar Panel PicOil Well ImageSolar stocks are again trading no differently than a leveraged bet on oil prices.  This is something we have noted on many occasions and with oil down by another -$2.59 at $64.14 per barrel in NYMEX WTI, that is looking to be the case again.  An analyst call on First Solar, Inc. (NASDAQ: FSLR) is not helping, and these two outside issues are bringing down Suntech Power Holdings Co. Ltd. (NYSE: STP) and SunPower Corporation (NASDAQ: SPWRA).

Even the Claymore/MAC Global Solar Energy (NYSE: TAN) is getting hit.   Where this gets interesting is that oil giants Exxon Mobil Corp. (NYSE: XOM) on the integrated side is down only 1.6% and Schlumberger Limited (NYSE: SLB) on the services side is down less than 3% at $51.00.
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Posted on: July 6, 2009 – 10:11 am in Alternative Energy, Green Biz, Oil & Gas, Trading Alert, , , , , , ,

Downgrading First Solar (FSLR, TAN)

Solar Panel PicFirst Solar, Inc. (NASDAQ: FSLR) is going to be down early this morning after Canaccord Adams decided to downgrade the stock.  The brokerage firm decided to cut the rating to Hold from Buy, and the price target is $180.00.   This could have implications for the solar ETF, Claymore/MAC Global Solar Energy (NYSE: TAN).
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Posted on: June 25, 2009 – 7:04 am in Alternative Energy, Analyst Calls, Green Biz, ,

Solar Players Looking Again Like Leveraged Oil Trades (FSLR, STP, SPWRA, LDK, ENER, TAN, PBW, CSIQ)

Solar Panel PicOffshore Rig PicInvesting in solar and alternative energy stocks comes with many risks.  We have often referred to many of these companies as being essentially nothing more than very leveraged speculative oil investments because when energy prices are low most forms of alternative energy are not competitive on a cost structure.  The drop of $2.62 per barrel to $66.93 in NYMEX WTI Crude is causing havoc in some of the mid-cap and speculative oils stocks.  It is also hitting shares of First Solar, Inc. (NASDAQ: FSLR), Suntech Power Holdings Co. Ltd. (NYSE: STP), SunPower Corporation (NASDAQ: SPWRA), LDK Solar Co.Ltd. (NYSE: LDK), and Energy Conversion Devices, Inc. (NASDAQ: ENER).  This is also seen directly in the ETFs of Claymore/MAC Global Solar Energy (NYSE: TAN) and PowerShares WilderHill Clean Energy (NYSE: PBW).  Speculative stocks like Canadian Solar Inc. (NASDAQ: CSIQ) look even worse.
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Posted on: June 22, 2009 – 10:05 am in Alternative Energy, Oil & Gas, Trading Alert, , , , , , , ,

News Escalates Technical Event in Solar Stocks (FCEL, STP, ESLR, SPWRA, YGE, TAN, FSLR)

Solar Panel PicWe recently have noticed how more and more solar companies are seeing big gains on news, particularly in those which have recently raised cash in a seondary offering.  We are starting to see further chart and technical events in FuelCell Energy Inc. (NASDAQ: FCEL), Suntech Power Holdings Co. Ltd. (NYSE: STP), Evergreen Solar Inc. (NASDAQ: ESLR), SunPower Corporation (NASDAQ: SPWRA), and Yingli Green Energy Holding Co. Ltd. (NYSE: YGE) as the 200-day or 50-day moving averages are now in the rear-view mirror. Where this gets interesting is that the solar ETF, Claymore/MAC Global Solar Energy (NYSE: TAN), has crossed above its 200-day moving average in recent days as shares are at $10.93 and that 200-day moving average is $10.15.
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Posted on: June 9, 2009 – 2:03 pm in ADR, Alternative Energy, Charts, ETF, Green Biz, Secondary Offering, Technical Analysis, Trading Alert, , , , , , ,

Yingli & LDK, Solar Earnings in the Shade (LDK, YGE, TAN)

Solar Panel PicLDK Solar Co. Ltd. (NYSE:LDK) makes multicrystalline wafers used to manufacture PV solar cells and Yingli Green Energy Holding Company Limited (NYSE:YGE) is an integrated maker of PV solar products. Both companies have reported large net losses for the first quarter of 2009, and shares of both look lower ahead of the open.
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Posted on: May 22, 2009 – 7:49 am in Alternative Energy, Earnings, Green Biz, , ,

Is Energy Conversion Devices Finally a Buy? (ENER, FSLR, TAN)

Solar Panel PicThe solar power business has had its ups and downs, with the downs prevailing lately.  Even meeting the modest EPS expectation of $0.09 for the current quarter might be challenging for Energy Conversion Devices, Inc. (NASDAQ:  ENER).  With the exception of solar sector leader First Solar Inc. (NASDAQ:FSLR), most of the solar players have been just been able to eke out a profit.

Even the Claymore/MAC Global Solar Energy (NYSE: TAN) solar ETF took a hit of more than 5% yesterday to $9.12 and its 52-week range is $4.65 to $30.79.  While this ETF holds foreign stocks that are often unlisted as US-traded stocks, Energy Conversion makes up almost 6% of this ETF’s weighting.

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Posted on: May 8, 2009 – 7:53 am in Alternative Energy, ETF, Green Biz, , ,

First Solar Moves Closer To The Double (FSLR, TAN, SPWRA, ESLR)

solar-panel-pic13Maybe there’s some life left in the solar industry after all. First Solar, Inc. (NASDAQ:FSLR) reported EPS for the first quarter of 2009 of $1.99, blowing past estimates of $1.50 and tripling EPS of $0.57 for the first quarter of 2008. Revenue hit $418.2 million, more than double last year’s quarterly revenues of $196.9 million, and higher than estimates of about $404 million.  This is also running up the key solar ETF, the Claymore/MAC Global Solar Energy (NYSE: TAN).
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Posted on: April 30, 2009 – 8:43 am in Alternative Energy, ETF, Earnings, Green Biz, , , ,

And Suddenly, Solar Back To Bonkers (FSLR, LDK, SPWRA, TAN, SOLR, STP)

solar-panel-pic22The sudden strength in the stock market and the rise in the price of oil is suddenly making the key solar sector stocks rise.   Solar shares also appear to be benefiting from China’s support of a subsidy program. DigiTimes noted that while the government supports the development of solar energy, no time line for any subsidy has been give.  Unfortunately, DigiTimes.com website was not connecting, so no link can be offered.  We have seen reports on this throughout the week noting the possible “assistance” on huge solar projects in China, but this is taking shares of First Solar, Inc. (NASDAQ: FSLR), LDK Solar Co. (NYSE: LDK), SunPower Corporation (NASDAQ: SPWRA), Claymore/MAC Global Solar Energy (NYSE: TAN), GT Solar International, Inc. (NASDAQ: SOLR), and Suntech Power Holdings Co. Ltd. (NYSE: STP) are all rallying sharply.  These are just some of the screaming gainers in the sector, but you will see double-digit gains, sometimes huge double-digit gains, across the board:
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Posted on: March 26, 2009 – 12:34 pm in Alternative Energy, Green Biz, Trading Alert, , , , , ,

Solar’s Shade: Nero or Blackout? (FSLR, JASO, LDK, SPWRA, TAN, KOL, XLE, USO)

solar-panel-pic5Notwithstanding a solid fourth quarter and an up year, First Solar, Inc. (NASDAQ:FSLR) is off more than 15% in early trading this morning. We noted its strong earnings report yesterday, but warned that guidance for 2009 was the important missing piece.  This is pressuring other solar stocks and is coinciding with moves in other sectors. It shows that even an Obama-favorite industry might not be able to escape the reality of the business climate.
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Posted on: February 25, 2009 – 10:31 am in Green Biz, Trading Alert, Utilities, , , , , , , ,

Coming Clean With Solar Woes (AMAT, JASO, SPWRA, SOLR, STP, FSLR, TAN)

"Future, Or Fracture?"

"Future, Or Fracture?"

Last year was the year that alternative energy  was  set to take the world over.  High energy prices and election promises made green energy look like it had unlimited growth.  Then came the massive drop in energy prices. Then came the recession. Then came the lack of credit.  Combine all that with lower stock valuations and this is looking like solar companies will get hit with a wave of rolling blackouts.

Applied Materials Inc. (NASDAQ:AMAT) gave us the impression that what we are setting up for is the third wave of negatives for the sector.  What we saw out of JA Solar Holdings Co. Ltd. (NASDAQ: JASO) only adds fuel to that fire.   SunPower Corporation (NASDAQ:SPWRA) and GT Solar International Inc. (NASDAQ: SOLR) are both up since their earnings, but these might not be representative of the whole group. Investors’ negative bias toward te will effect  earnings expectations for Suntech Power Holdings Co., Ltd. (NYSE: STP) next week and  First Solar, Inc. (NASDAQ: FSLR) the following week.
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Posted on: February 12, 2009 – 12:24 pm in Alternative Energy, Cult Stock, , , , , , , , , , , , , , , , ,

New Solar ETF Outperforms Main US Components So Far (TAN, FSLR, STP, WFR, SPWR)

On April 15, the Claymore/MAC Global Solar Energy Index ETF (NYSE: TAN) was launched on ETF leader, the NYSE Arca. Under the ticker “TAN,” the ETF tracks 25 solar power industry companies globally for a total market cap of $5.8 billion.

The majority of the businesses are tied to solar in the ETF and are in the U.S., China, and Germany. The active stocks that trade in the U.S. on NYSE or NASDAQ are First Solar Inc. (NASDAQ: FSLR), MEMC Electronic Materials Inc. (NYSE: WFR), and Suntech Power Holdings (NYSE: STP).

Claymore believes that recent "green" trends, favorable government policy, increasing volumes of venture capital investments, and improving technology industry will drive growth and returns for the fund.

It was launched at $25.84 on April 15 and shares closed at $26.90 today. The fund has reached as high as $27.50 (also today) and hasn’t closed below the initial launching price.  That puts the solar ETF up 4.1% since the lauch, aven after a drop of 0.7% today. 

Of the top four constituents that trade actively in the U.S., the performance based upon todays closed and compared to the open on April 15 for exact comparison is as follows (with the percentage of the ETF for representation):

  • First Solar Inc. (NASDAQ: FSLR) is over 8% of the ETF weighting, up 0.8% since the ETF opened; .
  • Suntech Power Holdings (NYSE: STP) is 6.24% of the ETF weighting, up 0.78% since the ETF opened;
  • MEMC Electronic Materials Inc. (NYSE: WFR) is 5.1% of the ETF weighting, actually down 0.4% since the ETF opened;
  • SunPower Corp. (NASDAQ: SPWR) is 4.7% of the ETF weighting, actually down by 0.4% since the ETF opened.

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Posted on: April 23, 2008 – 6:47 pm in Alternative Energy, ETF, , , , ,