And from China Analyst a very stark look at today's action:OK, now what’s wrong?
Just yesterday, the ever-volatile solar stocks staged a nice rally, as investors celebrated as the Senate tacked an 8-year extension of the solar investment tax credit onto the incredibly bloated financial bailout bill, which passed last night by a wide margin. The bill now goes over to the House. If approved in its current form, the bill would extend the current 30% tax credit for solar panel installations through 2016. That would be a relief for the domestic solar industry, which has been fretting for months about the possibility that the credit might not be renewed when the current credit expires at the end of this year.
Given the way the stock market sold off today, with the Dow Jones Industrial Average down 3.2% and the Nasdaq Composite down 4.4%, you can conclude either than a) the market isn’t so sure that the bill will actually win approval in the House in its current form, or b) that the bill is not going to be the cure-all that some investors hope.
Answer a) would mean disappointment for the solar industry....MUCH MORE
(in $millions except per share numbers):
| Company (Ticker) | Mkt | Price | Daily | YTD | Rev | Rev | Chg | EPS | EPS | Chg |
|
| Cap |
| Chg | Chg | 08E | 09E | % | 08E | 09E | % |
| First Solar (NASDAQ:FSLR) | 14585 | 177.86 | -9.8% | -33% | 1218 | 2179 | 79% | 3.71 | 6.98 | 88% |
| Suntech Power (NYSE:STP) | 5657 | 30.54 | -16.2% | -63% | 2152 | 3225 | 50% | 1.68 | 2.64 | 57% |
| SunPower (NASDAQ:SPWRA) | 5994 | 71.33 | -7.7% | -45% | 1426 | 2065 | 45% | 2.32 | 3.67 | 58% |
| MEMC (NYSE:WFR) | 5724 | 24.81 | -13.9% | -72% | 2189 | 2808 | 28% | 3.90 | 4.94 | 26% |
| LDK Solar (NYSE:LDK) | 3398 | 29.31 | -11.5% | -38% | 1649 | 2560 | 55% | 2.63 | 4.56 | 73% |
| Energy Conv. (NASDAQ:ENER) | 2369 | 57.06 | -7.6% | 70% | 471 | 682 | 45% | 1.70 | 3.23 | 90% |
| JA Solar (NASDAQ:JASO) | 1558 | 10.08 | -14.9% | -57% | 1048 | 1921 | 83% | 1.00 | 1.64 | 64% |
| Yingli Green Energy (NYSE:YGE) | 1317 | 10.16 | -11.6% | -74% | 1108 | 1716 | 55% | 0.99 | 1.59 | 61% |
| ReneSola Ltd. (NYSE:SOL) | 649 | 9.91 | -11.8% | -24% | 683 | 1256 | 84% | 1.37 | 2.41 | 76% |
| Solarfun Power (NASDAQ:SOLF) | 598 | 10.42 | -9.9% | -68% | 790 | 1080 | 37% | 0.97 | 1.45 | 49% |
| Trina Solar (NYSE:TSL) | 541 | 21.46 | -11.0% | -60% | 852 | 1298 | 52% | 3.39 | 4.46 | 31% |
| Evergreen Solar (NASDAQ:ESLR) | 598 | 5.05 | -14.1% | -71% | 114 | 422 | 270% | -0.26 | 0.42 | N/M |
| Canadian Solar (NASDAQ:CSIQ) | 483 | 16.44 | -14.3% | -42% | 961 | 1740 | 81% | 2.78 | 3.72 | 34% |
| China Sunergy (NASDAQ:CSUN) | 274 | 6.88 | -8.8% | -58% | 451 | 610 | 35% | 0.30 | 1.00 | 236% |
| Akeena Solar (NASDAQ:AKNS) | 114 | 4.06 | -6.9% | -49% | 40 | 56 | 38% | -0.62 | -0.49 | N/M |
| Hoku Scientific (NASDAQ:HOKU) | 112 | 5.60 | -7.1% | -51% | 18 | 115 | 538% | -0.15 | 0.36 | N/M |
| Ascent Solar (NASDAQ:ASTI) | 103 | 6.31 | -5.5% | -75% | 3 | 3 | 6% | -0.66 | -0.62 | N/M |
| Spire Corporation (NASDAQ:SPIR) | 121 | 14.50 | -5.7% | -39% | 78 | 129 | 65% | 0.02 | 0.87 | N/M |
| DayStar Tech. (NASDAQ:DSTI) | 91 | 2.75 | -7.4% | -56% | 0 | 13 | N/M | -0.77 | -0.82 | N/M |
| BTU Int'l (NASDAQ:BTUI) | 94 | 9.86 | -1.4% | -26% | 77 | 97 | 26% | 0.13 | 0.57 | 338% |
Note: I've cut off three columns. For P/E '08, '09 and Net Margins, go to China Analyst.
