Canadian Solar up over 26%
Although it was up 181 points earlier today, the Dow Jones Industrial Average finished up 114 points today to end the week at 9370.07, the highest in nine months. NASDAQ also finished the week well at 2000.25, about 22 points up from last Friday. The 20 Solar Stock Index closed down 3.67 points from last week to 429.08.
Major gainers on the Dow and NASDAQ range from D.R. Horton, a home-building firm, Hansen Naturals, the soda company and AES, an electrical power giant, so success seems diverse, at least for the week. Gains by two of Dow's former members drip with irony. Recent upturns by AIG and Citigroup (both NYSE and both TARP money) shows there may be a smidgen of hope for American taxpayers who own 75% alone of AIG from bail-out cash infused since last fall.
Canadian Solar International was the week's biggest gainer in the 20SSI by far--up 3.86 for the week, over a 26% climb from last Friday. Just yesterday CSI released second quarter results showing a net revenues of $114.2M, a 131% increase from Q109. Today CSI announced it has signed a "broad strategic" agreement with Guodian Power Development Co., Ltd., one of China's largest utilities.
First Solar closed down for the week by nearly 8 points, a 5.4% loss despite Q209 revenues up around 20% from first quarter's results. First Solar's thin-film modules have been wildly popular because of their rock-bottom low pricing. Yet standard silicon panel prices are at all-time lows now, too, and their higher efficiencies require significantly less space to install. Could the First Solar bubble be bursting?
20 Solar Stocks Index Week of August 3-7, 2009
| Monday Open | Friday Close | Up/Down | % Change | Close 1/5/09* | Close 3/6/09** | |
| Dow Jones DJIA | 9171.62 | 9370.07 | +198.45 | +2.163% | 8952.89 | 6626.95 |
| NASDAQ | 1978.5 | 2000.25 | +21.75 | +1.953 | 1628.03 | 1293.85 |
| Akeena Solar AKNS | 1.3101 | 1.26 | -.0501 | -3.976 | 2.28 | .61 |
| Amtel Systems ASYS | 5.74 | 5.63 | -.11 | -1.953 | 4.00 | 2.73 |
| Applied Materials AMAT | 13.80 | 13.52 | -.28 | -2.071 | 10.67 | 8.70 |
| Canadian Solar CSIQ | 14.54 | 18.40 | +3.86 | +26.54 | 7.00 | 3.0601 |
| ECD (UniSolar) ENER | 14.24 | 13.58 | -.66 | -4.860 | 29.33 | 17.45 |
| Entech Solar ENSL.OB | .2300 | .2230 | -.007 | -.3139 | .28 | .23 |
| Evergreen Solar ESLR | 2.10 | 2.06 | -.04 | -1.941 | 3.60 | 1.03 |
| First Solar FSLR | 154.39 | 146.47 | -7.92 | -5.407 | 157.80 | 108.49 |
| GT Solar Int. SOLR | 6.20 | 6.50 | +.30 | +4.838 | 4.00 | 4.02 |
| JA Solar JASO | 4.81 | 5.20 | +.39 | +8.108 | 5.09 | 1.91 |
| Kyocera KYO | 80.17 | 80.72 | +.55 | +.6860 | 71.87 | 54.21 |
| LDK Solar LDK | 10.94 | 11.64 | +.70 | +6.398 | 14.84 | 4.40 |
| MEMC Elect. WFR | 17.62 | 17.46 | -.16 | -.9163 | 15.76 | 13.68 |
| Renesola SOL | 5.45 | 5.67 | +.22 | +4.036 | 5.15 | 2.1201 |
| Satcon SATC | 1.89 | 2.02 | +.13 | +6.878 | 1.60 | 1.23 |
| SolarFun SOLF | 7.20 | 7.84 | -.64 | +8.888 | 6.12 | 2.30 |
| SunPower SPWRA | 32.20 | 30.69 | -1.51 | -4.920 | 45.13 | 23.39 |
| SunTech STP | 18.39 | 18.22 | -.17 | -.9330 | 13.55 | 5.34 |
| Trina Solar TSL | 28.26 | 28.58 | +.32 | +1.132 | 10.09 | 7.23 |
| Yingli YGE | 13.27 | 13.40 | +.13 | +.9796 | 7.25 | 3.888 |
| 20SSI Weekly Cumulative: | Previous 432.75 | Current 429.08 | Change -3.67/-.85% | Avg Stock +.2.06% | 1/05/09* 415.41 | 3/06/09** 266.01 |
** NOTE: Consensus "new" bull market began on Monday, March 9, 2009.
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