From Notable Calls:
- Merrill Lynch is out positive on MEMC Elec (NYSE:WFR) this morning noting they expect the co to report that 3Q is progressing as planned and leave guidance unchanged on their mid 3Q conference call, Tuesday September 2 after the close....We saw this at ClusterStock yesterday but decided to file it rather than posting:
...Notablecalls: We had couple of tier 2 firms out positive on WFR yesterday but the stock did very little for the bulls. I think MLCO's comments may ignite it to the upside here.
MEMC Electronic Materials: Solar Channel Checks Solid, Semis Weak (WFR)
FBR previews MEMC Electronic Material's (WFR) mid-quarter update and says that despite strength in the company's solar wafer shipments, weak semiconductor demand will offset those gains. MEMC remains one of few solar stocks that bearish FBR considers "attractive."
FBR's recent checks suggest that solar wafer shipment from MEMC into solar customers improved from June to July, and the total shipment in the first three weeks of August has already exceeded the total shipment in the month of July:
We note that SunTech (STP, MP), one of the largest solar wafer customers at MEMC, exceeded 2Q expectations when STP reported last week, with 3Q guidance of 22% sequential growth in revenues, which was 5% above our previous expectations. Such an example gives us incremental confidence that MEMC has "at least" remained on track with capacity additions, and so far, no hiccups....MORE