ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Evergreen Solar’s balance sheet is a common concern in nearly every earnings conference call. After reviewing earnings on November 4, I concluded that Evergreen Solar (ESLR) “remains a very speculative bet on survival.” After Monday’s announcement of a major recapitalization plan, it is clear that ESLR’s balance sheet remains in precarious shape. The recapitalization plan … Read more
I have been reporting the breakout of U.S. Steel (X) on twitter since last week, so I thought I would quickly post a chart outlining the case and provide some additional commentary. Like most steel stocks, U.S. Steel has lagged the S&P 500 for most of this year. The stock has churned in a wide … Read more
Once again, negative news flow caught up with Lender Processing Services (LPS) – this time it was a Reuters report titled “Special report: Legal woes mount for a foreclosure kingpin” that provided additional sordid and scandalous details on now well-known allegations that have weighed on LPS for at least a year. Reuters essentially claims that … Read more
China Pledges Support For Solar Development Beijing will create 13 industry zones and pay up to half the price of equipment for solar power projects, the Finance Ministry said. It said other costs will be covered by a subsidy of 4 to 6 yuan (60 to 90 U.S. cents) per watt of generating capacity. (tags: … Read more
Trina Solar Ltd. (TSL) reported earnings last week with excellent headline results and strong guidance, but the stock market rewarded the company with a 7% loss on extremely high selling volume. Wedbush even reiterated its outperform rating and $43 price target based on TSL’s performance (according to briefing.com). Most of those initial losses were erased … Read more