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Chinese Solar Stocks: The Street’s Best Sector Extends GainsTickerspy’s Chinese Solar IndexCHINESE SOLAR INVESTING IDEAS
CHINESE SOLAR COVERAGEChinese companies focused on Solar energy generation and technology
CHINESE SOLAR CHART CHINESE SOLAR METRICS
Solar stocks are hot this week, and with more news to come, investors will have plenty to digest before the weekend. Yesterday evening, LDK Solar (LDK) announced that it would sell a 15% stake in its Chinese polysilicon plant for approximately $219 million. The news sent shares up by 14% in after-hours trading as investors welcomed the additional cash. LDK chairman and CEO Xiaofeng Peng said the deal will, “significantly strengthen our financial position and increase our near-term operating flexibility.” The company will report its third-quarter numbers before the market opens on Monday. Today’s spike will put LDK ahead of its Chinese Solar Stocks Index peers over the last week, but it is one of many to put up double-digit returns for the period. Before today’s opening bell, the sector was already outperforming the S&P 500 by 11% in the last month. Solarfun Power Holdings (SOLF) is also up big today after more than doubling the Street’s third-quarter EPS expectations. Solarfun brought in $20.1 million or 37 cents a share in net income for the quarter, ahead of the 15-cent EPS consensus. Revenue for the period was $144.6 million, slightly less than the analysts’ $145.1 million expectation. China Sunergy (CSUN) is moving higher today after reporting an adjusted loss in the third quarter. The company missed analysts’ 2-cent EPS estimate by a nickel after adjusting for a $9.7 million gain from foreign currency exchange and other one-time items. Still, investors seem pleased with the 60% spike in quarterly shipments. According to a report by the Wall Street Journal, the structure of solar sales may change as some players look to engage directly with the consumer segment. Suntech Power Holdings (STP), China’s largest U.S.-listed solar player by market-cap, is among those to enlist and train an army of locally-owned installers. The plan is to eliminate the middle-man, a strategy that has worked for companies like Trane air-conditioners and Anderson windows, according to The Journal. The Street will be paying close attention to third-quarter reports from Suntech and Trina Solar (TSL) tomorrow morning. As of this writing, the Chinese Solar Stocks Index is on top of tickerspy’s one-week Index performance rankings, up by 10.7%. Canadian Solar (CSIQ) and Yingli Green Energy (YGE) are among other top performers for the period. Investors can track the Chinese Solar Stocks Index for performance trends and a suite of other metrics at tickerspy.com.
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