Savings Experiment: Snow Removal
The Money Man Behind Rick Santorum: Who Is Foster S. Friess?
Funding in the cleantech sector may be up this year, but performance isn't following. The latest research from Bank of America Merrill Lynch (BAC) puts the sector down 15% since the beginning of the year. Steven Milunovich, the bank's U.S. renewable energy analyst, indicates that the sector may be staring down unprofitable growth for the rest of 2010. On a conference call, he said, "We are going to have growth, I am not concerned with this over time. What I am concerned about is profitability."Milunovich said, "Clean technology stocks performed very well in 2007 and 2008 when there was a lot of issuance in the wind space. But in 2009, our index was down 60 per cent versus the market,' he said, on a conference call." Bank of America estimates that the sector as a whole has annual revenues of $100 billion, with an aggregate market cap of $200 billion.
Perhaps the greatest indicator of the industry's growth potential is the dominance of private cleantech companies over those that are publicly traded – signaling, it seems, that the best is yet to come. Said Milunovich, "It will be very interesting to watch these companies go public because when they do it will be very similar to when Amazon (AMZN) did and people asked whether it was an internet company or a retailer."
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
