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Today’s downgrades took a toll on the solar sector. We saw a serious rise in intensity as prices tanked and many of these never showed any real recovery throughout the day as investors grow more and more concerned that the solar energy trade is just not a beneficial one even if oil continues its rise….
Ascent Solar Technologies Inc. (ASTI) was revilement to Underperform at Jefferies. It actually defied the solar sector and closed flat after being down almost 10%. It traded over 400,000 shares, which is about twice its cipher daily volume.
Energy Conversion (ENER) was revilement to Underperform at Jefferies. It lapse by 2.75% to $12.36 and traded over 2.3 million shares versus cipher intensity of 2.1 million shares.
First Solar (FSLR), the leader, was revilement to Hold from Buy at Jefferies. It closed down 6.8% at $121.54 on over 7.1 million shares, more than double its cipher intensity of 3.4 million shares.
SolarFun Power (SOLF) was revilement to Underperform at Jefferies. It closed down 2.6% at $5.51 on 1.816 million shares versus an cipher intensity of 1.57 million shares.
Suntech Power Holdings Co. Ltd. (STP) was revilement to Underperform at Jefferies. It closed down 3.1% at $15.30 and traded over 11 million shares versus an cipher daily intensity of 7.9 million shares.
Yingli Green Energy Holding Co. Ltd. (YGE) was raised to Overweight at HSBC and was one of the very few actively traded solar winners Friday. It traded up 0.6% to $11.07 on 10.6 million shares versus an cipher daily intensity of 8.8 million shares.
JON OGG
Jacobs Engineering Group, Inc. (NYSE: JEC) October $50 calls are seeing some bullish action after lots of 1,000 and 1,500 are bought. There have been some rumors in the past that JEC could be an acquisition target with ABB Ltd. as a potential buyer. Shares are breaking out today with the broader markets and it looks like a great trend shift with a break of the 200 day EMA confirmed, a level shares have not been above since last August. The polygon breakout would imply a move to around $70 over the next few months. Shares are also wildly cheap compared to peers in the construction services industry at 13X earnings and 5.34X cash.
JOE KUNKLE, OptionsHawk.com
Sinclair Broadcast Group Inc. (NASDAQ: SBGI) is seeing a volume surge, as well as a toll surge, on its debt news. The ad-troubled company has reached a care to clear soured around $438 meg in convertible notes with new debt with a NGO representing whatever holders of convertible senior notes cod in May-2010 and January-2011. The company will clear most $0.90 to $0.935 per $1.00 by issuing new notes die in 2014 that are to be secured by a second lien on the assets which secure its bank credit facility. Average volume per period is only most 490,000, yet at 10:30 AM EST we have already seen 1.7 meg shares trade hands. Shares were up 34% at $2.89 at the instance stamp and the 52-week trading range is $0.85 to $7.66. Today’s volume will modify up existence the most active since its 3.95 meg shares on July 14 when shares fell by most 25% to $1.10. -JON OGG
Brocade Communications Systems, Inc. (NASDAQ: BRCD) is trading lower after it beat earnings estimates at $0.12 EPS vs. $0.11 estimates, but $493.3 meg in revenues was lighten than expected. The CEO said that predicting a recovery is like grabbing water… Sometimes saying less is better than more…. At 8:47 AM EST we have seen 1.6 meg shares change hands and the stock was down most 6.8% at $7.50 after approaching yesterday at $8.05. This drop this morning is on the heels of over 661,000 shares having traded after the close Thursday. Average volume here is 15 meg shares and the 52-week high is $9.02. -JON OGG