Friday, May 22, 2009

May 18-22: Dow, NASDAQ Up Smidgen; Solar Up 5.67%


Looming GM bankruptcy blights Dow's week

With just days left for General Motors officials to complete a major financial revamping, the former cornerstone of blue chippers could file for bankruptcy next week. Although this action would enable the troubled automaker to get $30M in federal money, it drove down GM's stock by 25% today and took several other down with it.

The DJIA finish up just .001% for the week; the NASDAQ was up .007%. The 20 Solar Stocks Index (20SSI) fared better at 5.667% up regaining about one-quarter of last week's losses.

Solarfun Power Holdings was the biggest gainer for the week at +30.54% attributed to a strong first quarter earnings report released Tuesday.

Canadian Solar Inc (CSIQ) was close behind, gaining nearly 30% since Monday. The AP reported yesterday that CSI's "healthy balance sheet, product line strategy and underappreciated stock prompted an analyst to upgrad the solar energy product manufacturer, sending shares jumping."

Trina Solar was another PV industry winner climbing nearly 23% during the week. Evidently, investor sentiments are positive for solar stocks seen as being driven up by rising crude oil prices.

Solar stock watchers seem convinced the industry hit bottom in early March. Dow and NASDAQ averages generally have climbed since then, as well.
Week of May 18-22, 2009

Monday Open Friday Close Up/Down % Change Close 1/5/09
Dow Jones DJIA 8268.64 8277.32 +8.68 +.0010 8952.89
NASDAQ 1680.14 1692.01 +11.87 +.0070 1628.03






Akeena Solar AKNS 1.16 1.12 -.04 -3.571 2.28
Amtel Systems ASYS 4.13 4.50 +.37 +8.958 4.00
Applied Materials AMAT 10.71 10.67 -.04 -.0037 10.67
Canadian Solar CSIQ 7.71 10.01 +2.30 +29.83 7.00
ECD (UniSolar) ENER -14.80 15.06 +.26 +1.757 29.33
Entech Solar ENSL.OB .22 .191 -.029 -15.18 .28
Evergreen Solar ESLR 2.08 1.76 -.32 -18.18 3.60
First Solar FSLR 177.43 191.72 +14.29 +8.054 157.80
GT Solar Int. SOLR 5.37 6.25 -+.88 +16.38 4.00
JA Solar JASO 3.11 3.70 +.59 +18.97 5.09
Kyocera KYO 77.51 76.68 -.83 -1.082 71.87
LDK Solar LDK 8.02 7.77 -.25 -3.217 14.84
MEMC Elect. WFR 15.74 17.06 +1.32 +8.386 15.76
Renesola SOL 3.36 3.69 +.33 +9.821 5.15
Satcon SATC 2.05 2.02 -.03 -1.485 1.60
SolarFun SOLF 4.78 6.24 +1.46 +30.54 6.12
SunPower SPWRA 25.05 26.60 +1.55 +6.187 45.13
SunTech STP 14.34 12.48 -1.86 -14.90 13.55
Trina Solar TSL 16.98 20.73 +3.75 +22.08 10.09
Yingli YGE 8.50 9.35 +.85 +10.00 7.25
Percent change all 20 stocks this week:


+5.667%



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