Get yourself a man-made island...
About $60 billion in debt is in danger of default by Dubai World, a state-owned conglomerate in the Middle East. This is the company making those surreal palm-shaped island resorts for the world's mega-rich. Dubai is one of the seven emirates of the United Arab Emirates, which figuratively mints money with black gold. (Ed.: One would wonder how an area so enriched by gross oil revenues could ever be over-extended on credit.) According to the Dubai World website, the conglomerate Fortunately however, it looks as though most debt liability will be taken by European institutions as most lenders in Europe are generally exposed to the Middle East.
Still, the possible default had a negative impact late this week on U.S. stocks, helping to set back the Dow down eight points and the NASDAQ about seven. The 20 Solar Stocks Index (20SSI) dipped just over five points. Fifteen of the 20 stocks finished down but none by much. Canadian Solar continued its strong position in the PV industry with a 51 cents per share gain, the index leader.
20 Solar Stocks Index Week of Nov 23-27, 2009
| Monday Open | Friday Close | Up/Down | % Change | Close 1/5/09* | Close 3/6/09** | |
| Dow Jones DJIA | 10318.16 | 10309.92 | -8.24 | -.0799% | 8952.89 | 6626.95 |
| NASDAQ | 2146.04 | 2138.44 | -7.600 | -.3554 | 1628.03 | 1293.85 |
| Akeena Solar AKNS | 1.07 | .95 | -.12 | -12.63 | 2.28 | .61 |
| Amtel Systems ASYS | 6.15 | 6.20 | +.05 | +.8130 | 4.00 | 2.73 |
| Applied Materials AMAT | 12.28 | 12.29 | +.01 | +.0814 | 10.67 | 8.70 |
| Canadian Solar CSIQ | 21.01 | 21.52 | +.51 | +2.427 | 7.00 | 3.0601 |
| ECD (UniSolar) ENER | 10.57 | 10.15 | -.42 | -4.138 | 29.33 | 17.45 |
| Entech Solar ENSL.OB | .1071 | .1140 | +.0069 | +6.442 | .28 | .23 |
| Evergreen Solar ESLR | 1.47 | 1.39 | -.08 | -5.755 | 3.60 | 1.03 |
| First Solar FSLR | 121.18 | 120.30 | -.88 | -.7315 | 157.80 | 108.49 |
| GT Solar Int. SOLR | 4.74 | 4.83 | +.09 | +1.898 | 4.00 | 4.02 |
| JA Solar JASO | 3.96 | 3.83 | -.13 | -3.394 | 5.09 | 1.91 |
| Kyocera KYO | 78.90 | 78.65 | -.15 | -.3178 | 71.87 | 54.21 |
| LDK Solar LDK | 7.89 | 7.61 | -.28 | -3.679 | 14.84 | 4.40 |
| MEMC Elect. WFR | 12.08 | 12.06 | -.02 | -.1658 | 15.76 | 13.68 |
| Renesola SOL | 4.08 | 3.85 | -.23 | -5.974 | 5.15 | 2.1201 |
| Satcon SATC | 2.02 | 1.97 | -.05 | -2.538 | 1.60 | 1.23 |
| SolarFun SOLF | 6.64 | 6.39 | -.25 | -3.912 | 6.12 | 2.30 |
| SunPower SPWRA | 21.48 | 20.05 | -1.43 | -7.132 | 45.13 | 23.39 |
| SunTech STP | 15.18 | 14.18 | -1.00 | -7.052 | 13.55 | 5.34 |
| Trina Solar TSL | 44.43 | 44.13 | -.30 | -.6798 | 10.09 | 7.23 |
| Yingli YGE | 13.75 | 13.37 | -.38 | -2.842 | 7.25 | 3.888 |
| 20SSI Weekly Cumulative: | Previous 389.09 | Current 383.83 | Change -5.26/+1.37% | Avg Stock -2.091% | 1/05/09* 415.41 | 3/06/09** 266.01 |
** The Concensus "new" bull market began on Monday, March 9, 2009.
NOTE: All above stocks have market capitalization of $100M+ except Akeena Solar, Amtel Systems
and Entech Solar. This listing is strictly informational and implies neither endorsement or disapproval
of any stock listed. Comments and suggestions are always welcome.
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