Continue reading Closing Bell: Markets Open Higher, Pull Back Later (NEXS, CRA, URRE, CIGX, ACY, ESLR)

Closing Bell: Markets Open Higher, Pull Back Later (NEXS, CRA, URRE, CIGX, ACY, ESLR) originally appeared on BloggingStocks on Fri, 18 Mar 2011 16:30:00 EST. Please see our terms for use of feeds.

After the close last night, Evergreen Solar (ESLR) announced that its third-quarter loss narrowed to $27.2 million, or 13 cents per share, from last year's deficit of $82.7 million, or 40 cents per share. Revenue for the period climbed to $86.5 million from $77.7 million in the year-ago quarter.

Despite the year-over-year improvement, ESLR's quarterly results fell short of Wall Street's expectations. Analysts surveyed by Thomson Reuters were predicting a third-quarter loss of just 11 cents per share on $87.5 million in revenue.

Continue reading Evergreen Solar Plunges on Earnings Miss

Evergreen Solar Plunges on Earnings Miss originally appeared on BloggingStocks on Tue, 02 Nov 2010 11:40:00 EST. Please see our terms for use of feeds.

After the closing bell on July 30, Massachusetts-based Evergreen Solar Inc. (NASDAQ: ESLR) reported second-quarter revenues of $63.8 million, compared to $55.8 million for the first quarter of 2009. The company's gross margin for the second quarter of 2009 was 1.9%, compared to 1.2% for the first quarter of 2009.

Unfortunately, these gross margins are way off the 34.7% we saw in the second quarter of 2008.

Continue reading Solar stock #2: Evergreen Solar (ESLR)

Solar stock #2: Evergreen Solar (ESLR) originally appeared on BloggingStocks on Sat, 15 Aug 2009 13:00:00 EST. Please see our terms for use of feeds.

Evergreen Solar, Inc. (NASDAQ: ESLR) plunged to an all-time low of $3.30 on Tuesday, thanks to the widespread ripple effect caused by Lehman Brothers' bankruptcy filing. As Evergreen confessed to a potentially substantial Lehman-related loss, analysts rushed yesterday to hand out price-target cuts. Today, Citigroup bucked the trend by upgrading ESLR from "sell" to "hold."

The bullish note seems primarily based on increased transparency regarding the Lehman situation, as well as a sharp decline in the stock's valuation. In a note to clients, Citigroup clarified, "With ESLR more clearly defining its exposure to a Lehman Bros. bankruptcy, the worst-case scenario is now well-defined . . . these issues appear much better discounted at current levels."

In response to the upgrade, ESLR has added more than 13% today. The shares are trading around the $5 mark, though, which puts them in territory not previously explored since May 2005. The stock's year-to-date loss now totals 75% -- a stomach-churning plunge, for sure, but the stubbornly bullish sentiment among investors suggests that more downside may be in store for Evergreen Solar.

Continue reading Evergreen Solar scores an upgrade, despite Lehman-related losses

Evergreen Solar scores an upgrade, despite Lehman-related losses originally appeared on BloggingStocks on Wed, 17 Sep 2008 12:40:00 EST. Please see our terms for use of feeds.

Analyst upgrades:

• Wachovia upgraded shares of The Goldman Sachs Group Inc (NYSE: GS) to Outperform from Market Perform on expectations for greater pricing power given Goldman's position as the largest remaining independent securities firm.
• Keefe Bruyette upgraded Investment Technology Group Inc (NYSE: ITG) to Outperform from Market Perform as they believe the company will take market share with the reshaping of the large wire-house brokerage community. The company's target was raised to $37 from $33.
• Broadpoint raised Hoku Scientific Inc (NASDAQ: HOKU) to Buy from Neutral as they believe the contract with Tianwei New Energy reduces financing risk.
• ACE Ltd (NYSE: ACE) and The Travelers Companies Inc (NYSE: TRV) were upgraded to Buy from Neutral at Goldman.
• Axcelis Technologies Inc (NASDAQ: ACLS) was upgraded to Buy from Hold and Evergreen Solar Inc (NASDAQ: ESLR) was lifted to Hold from Sell at Citigroup.

Analyst downgrades:

Continue reading Analyst calls: GS, ITG, HOKU, CME, QSII, TUP, ABFS, PSE, RAX

Analyst calls: GS, ITG, HOKU, CME, QSII, TUP, ABFS, PSE, RAX originally appeared on BloggingStocks on Wed, 17 Sep 2008 11:27:00 EST. Please see our terms for use of feeds.

For a bullish hedged play on this stock, I would consider a September bull-put credit spread below the $7.50 range. A bull-put credit spread is an options position that combines the purchase and sale of put options to hedge risk in case the stock doesn't do what you think but still leverage nice returns. For this particular trade, we will make a 19.0% return in just two months as long as ESLR is above $7.50 at September expiration. Evergreen would have to fall by more than 25.7% before we would start to lose money. Learn more about this type of trade here.

Continue reading Evergreen Solar (ESLR) signs $1.2 billion contract

Evergreen Solar (ESLR) signs $1.2 billion contract originally appeared on BloggingStocks on Tue, 15 Jul 2008 14:04:00 EST. Please see our terms for use of feeds.

The current BusinessWeek looks at stocks such as First Solar (NASDAQ: FSLR), SolarWorld and Evergreen Solar (NASDAQ: ESLR), which have been facing increased volatility based on contract deal news or the lack thereof.

A major impact came in May, with speculation that Germany would lower subsidies given to companies and individuals who install alternative energy equipment. But the cut was not as deep as expected and stocks rebounded nicely.

Continue reading BusinessWeek looks at solar stocks

BusinessWeek looks at solar stocks originally appeared on BloggingStocks on Tue, 24 Jun 2008 15:45:00 EST. Please see our terms for use of feeds.

Tech Vibes originally appeared on BloggingStocks on Mon, 16 Jun 2008 15:58:00 EST. Please see our terms for use of feeds.

Evergreen Solar (NASDAQ: ESLR) develops, manufactures and markets solar power products. Its proprietary String Ribbon technology process is used to make photovoltaic cells that convert sunlight into electricity. These are the primary components of solar panels used to power such systems as highway call boxes, microwave stations, billboard lighting mechanisms and rural electric power sources. Most of the firm's sales involve customers in the United States.

Evergreen had good news for investors late last week. German-based Ralos Vertriebs GmbH signed a $750 million contract for solar panel deliveries, beginning in 2008 and extending through 2013. That boosted the company's sales total over the past two weeks to about $1 billion. Lazard subsequently issued positive comments on the stock, noting enhanced visibility.

Continue reading Evergreen Solar (ESLR): Shares cycling in bullish 'flag'

Evergreen Solar (ESLR): Shares cycling in bullish 'flag' originally appeared on BloggingStocks on Tue, 27 May 2008 10:50:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY: Staples, Evergreen Solar and Genzyme were today's noteworthy upgrades:

• Jefferies upgraded shares of Staples (NASDAQ: SPLS) to Buy from Hold following the company's raised bid for Corporate Express based on the increased chance the deal gets deal done and SPLS achieves meaningful EPS accretion.
  
• Jefferies also raised Evergreen Solar (NASDAQ: ESLR) to Buy from Hold on valuation, as they believe concerns regarding capital needs are now priced into the stock and that the company continues to take risk out of its growth story through execution.
  
• Bernstein upgraded Genzyme (NASDAQ: GENZ) to Outperform from Market Perform citing increased confidence in GENZ's product portfolio, geographic and therapeutic diversification, improved outlook, and valuation.

OTHER UPGRADES:

• Sun Microsystems (NASDAQ: JAVA) was raised to Outperform from Market Perform at Wachovia.
  
• BearingPoint (NYSE: BE) was upgraded at Goldman to Neutral from Sell.
  
• Lehman upgraded Nexen (NYSE: NXY) to Overweight from Equal Weight.

Analyst upgrades: Staples, Evergreen Solar, Genzyme originally appeared on BloggingStocks on Wed, 14 May 2008 12:05:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Citigroup believes SunPower (NASDAQ: SPWR) is faced with high cell production costs, its silicon cost and installation cost advantages are increasingly commoditized and finds the risk/reward even at current levels. Shares were initiated with a Hold rating and $105 target.
  
• Citigroup believes Evergreen Solar (NASDAQ: ESLR) faces significant financing requirements over the next few years, making it difficult to see a sustained period of EPS growth beyond the $1 range. The firm sees downside to $5/share. Shares were assumed with a Sell rating and $8 target.
  
• UBS started Abbott Lab (NYSE: ABT) with a Buy rating and $61 target. The firm is positive on Humira potential growth and expects Xience to drive vascular operating margins to positive.

• Lazard initiated Cree (NASDAQ: CREE) and Rubicon Tech (NASDAQ: RBCN) with Hold ratings.
  
• BMO Capital started Smith & Nephew (NYSE: SNN) with an Outperform rating and $70 target.

Analyst initiations: SPWR, ESLR and ABT originally appeared on BloggingStocks on Fri, 09 May 2008 11:05:00 EST. Please see our terms for use of feeds.

Evergreen Solar (ESLR) lifted by cpacity expansion plans originally appeared on BloggingStocks on Mon, 07 Apr 2008 13:11:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• Troubled savings and loan giant Washington Mutual Incorporated (NYSE: WM) will receive a $5B investment from private equity firm TPG and other investors, the Wall Street Journal reported. For now, this eliminates the possibility that it will be acquired by another financial institution such as J.P. Morgan Chase & Co (NYSE: JPM).
• The Wall Street Journal also reported that music downloading copyright infringement lawsuits against Baidu.com Inc (NASDAQ: BIDU) and Sohu.com Inc (NASDAQ: SOHU) may be heard by a Chinese court.
• People close to the situation said that Delta Air Lines Inc (NYSE: DAL) and Northwest Airlines Corporation (NYSE: NWA) have revived merger talks. It is speculated, the Financial Times reported, that weak demand and high fuel costs are urging the airliners back to the table to work out a merger arrangement.

• Evergreen Solar Inc (NASDAQ: ESLR) is expected to announce today that it will double the size of its manufacturing facility in Massachusetts and add about 350 new jobs as part of its ongoing expansion, according to the Boston Globe.

• Bloomberg reported that The Goldman Sachs Group Inc (NYSE: GS) has been the only major investment bank that has refused to reduce its leverage. In fact, Goldman's adjusted leverage ratio of assets rose to 18.6 at the end of February, from 17.5 at the end of November.

Newspaper wrap-up: TPG, others, to invest $5B Washington Mutual originally appeared on BloggingStocks on Mon, 07 Apr 2008 07:53:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Sun Microsystems Inc (NASDAQ: JAVA) was initiated with a Market Perform at BMO Capital, which views the shares' risk/reward as favorable around $5.
• FMC Technologies Inc (NYSE: FTI) was initiated with a Buy by Jefferies, which believes strong subsea fundamentals will drive strong earnings by the company.
• TorreyPines Therapeutics Inc (NASDAQ: TPTX) was initiated with a Strong Buy at JMP Securities, which said PhIIb data in Q4 on the company's tezampanel drug could increase investor conviction on the first in-class drug.
• Exelixis Inc (NASDAQ: EXEL) was initiated with a Buy by Lazard, which believes Exelixis has a promising pipeline.

• Fortune Brands Inc (NYSE: FO) was assumed with a Neutral rating by JMP Securities.
• Evergreen Solar Inc (NASDAQ: ESLR) was assumed with a Hold rating by Jefferies.
• Research in Motion Limited (NASDAQ: RIMM) and Kodiak Oil & Gas Corp (AMEX: KOG) were initiated with Outperform ratings at BMO Capital.

Analyst initiations: JAVA, FTI, TPTX and EXEL originally appeared on BloggingStocks on Fri, 14 Sep 2007 10:35:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY: Marvel Entertainment (MVL) and SAIC (SAI) topped today's extensive list of initiations.

• RBC Capital Markets initiated Marvel Entertainment, Inc. (NYSE:MVL) with a Sector Perform rating and $30 target; the firm said Marvel may have already exploited what it can out of previous titles and that future film slates of licensed characters are not guaranteed to have the same appeal as "Spider Man" or "X-Men."
• SAIC, Inc. (NYSE:SAI) was initiated at a multitude of firms today: Stifel Nicolaus, Jefferies, Citigroup and KeyBanc McDonald started SAIC with a Hold rating; Morgan Stanley and Stephens started the defense company with an Equal Weight rating; Bank of America and Cowen initiated SAIC with a Neutral rating; Bear Stearns initiated them with a Peer Perform rating. Mostly all cited valuation.

OTHER INITIATIONS:

• Needham started Evergreen Solar, Inc. (NASDAQ:ESLR) with a Buy rating and $12 target, citing expectations of the solar power manufacturer to grow at 2x the overall PV industry, resulting in market share gains.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst initiations 11-22-06: Nine firms initiate SAIC with Hold/Neutral originally appeared on BloggingStocks on Wed, 22 Nov 2006 11:19:00 EST. Please see our terms for use of feeds.