ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
At the time I provided my summary of the stellar earnings results from Jinko Solar (JKS), I noted that the post-earnings surge in the stock price of 17% was likely partly the result of short-covering. Only data through October 15 was available then, and it showed all-time highs in short interest. The data for October … Read more
Integrated solar manufacturer ReneSola Ltd. (SOL) reported strong earnings results Friday morning. The summary from the company’s presentation says it all: SOL’s push downstream into the module production business has had a very positive impact on the business. Revenue and earnings growth accelerated in the third quarter. (Click for a larger view – I highly … Read more
Evergreen Solar’s sudden resurgence in October remains a mystery to me. Nothing in the recent third quarter earnings report explains the sudden return of enthusiasm to the stock. On the other hand, there was just enough reassurance in the report to once again suspend fears of the worst outcomes. ESLR remains a speculative play on … Read more
Slowdown in Germany? Italy cutting solar subsidies 6-10%? The Czech Republic trimming subsidies? A deterioration in ASPs (average selling prices) in the second half of 2011? A huge follow-on offering of 3.5M ADS (American Depository Shares) in which insiders are cashing in on 43% of the shares? Jinko Solar (JKS) mentioned all these potential headwinds … Read more
While many gear up for the elections and the Federal Reserve, I am bracing myself for a barrage of earnings from solar companies. Thursday night, First Solar (FSLR) kicked off the earnings parade in disappointing fashion as the market reacted by taking the stock down 9%. It seems that the market agonized over two main … Read more