Collins Stewart solar analyst Daniel Ries once again is cutting estimates for a solar company ahead of earnings. On November 19, Collins cut numbers for Suntech (STP) ahead of earnings, rightly anticipating a big drop in guidance. On November 14, he made a similar move on Canadian Solar (CSIQ); it was another prescient call, preceding terrible Q4 guidance a week later. Today, he zeros in on Sol...
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Solarfun Swoons; Collins Stewart Cuts Ests Ahead Of Earnings Tomorrow; Sees Possible Cash Crunch Ahead
Mon, Dec 1, 11:33 AM ET
Good morning. Premarket futures are suggesting a weak start of the new week and month. Other than the acquisition of Mentor by Johnson & Johnson, the news wires are relatively quiet. Of course, focus remains on holiday shopping as preliminary reports that indicate a better than expected start but the concern is that it is only due to deeply discounted merchandise. We'll receive more reports thi...
I guess it’s back to reality today since we’re back to the 2% gaps at the open… On Today’s Calendar: 10:00 — Construction Spending 10:00 — ISM Index More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic Potential swing trades: See one of the recent ‘Chart Reading‘ posts for some potential swing candidates. Also be sure to check ...
So here’s the crux of the debate on the solar stocks, which today have gained ground for the fourth straight session, posting some impressive cumulative gains after a long, long slide. The bearish view is that the stocks, while certainly badly beaten up in recent months, still must endure a period of tighter credit, collapsing prices, too much supply, a stronger dollar and strapped govern...
Wow, now that’s what I call a rally. Solar stocks have been battered in recent weeks by concerns about falling demand, depressed prices, tighter credit and the stronger dollar; last week the sector suffered through some truly nasty earnings reports. But today the stocks have staged a mammoth rebound, as investors go hunting for bargains in the sector. I’m not sure that there is any ...
The remarkable swoon of the solar sector continues unabated. While there remains widespread anticipation that an Obama Administration will push for an expansion of the use of alternative energy generally and solar in particular, those hopes have been overwhelmed by collapsing fundamentals in the industry. Several companies this week - including Canadian Solar (CSIQ), Suntech (STP) and Trina Sol...
Good morning. A bounce in overseas markets amid renewed expectations for additional rate cuts and other bailout speculation have set a positive tone this options expiration Friday. The newswires are relatively quiet and other than earnings from Dell, a board meeting at Citigroup, and chatter regarding what Obama will do for the automakers there's not much to work with other than extremely over...
Canadian Solar (CSIQ) this morning forecast a dramatic drop in revenues for the fourth quarter as the solar sector continues to struggle with falling demand. For Q3, the company posted revenue of $252.4 million, above the Street at $248 million. But profits of 41 cents a share were 13 cents short of the Street consensus of 54 cents. The shocker is the guidance: for Q4, the company now sees reve...
We’ve got a gap up for a change. If I were trading today — I’m not b/c of options expiration — I’d be watching for the October low on the Dow. It would be a good sign for the bulls if it can climb back over that level but it’s probably more likely that it becomes resistance. On Today’s Calendar: nothing More Calendars: U.S. Earnings | Conf. Calls | Surp...
Canadian solar panel maker Canadian Solar Inc. (NASDAQ:CSIQ) reported earnings this morning before the market opened. Revenue for the third quarter was $252.4 million, higher than expectations of $248 million. Analysts expected EPS of $0.54, and instead got EPS of $0.31. The EPS included a foreign exchange loss of $17.3 million and a mark-to-market gain on derivatives of $7.4 million.The compa...