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Share price went up 9 percent on the news, closing at $46.18 and rising to $50.29 in after-hours trading, according to Reuters.
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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
Salesforce.com Inc. (NYSE: CRM) winking up 2.5% a6 $46.18 in regular trading today. But at 4:47 PM EST shares are up farther in after hours around $50.70, an additional gain of 9.79%, on more than 526,000 shares. This traded over 3 meg shares in regular trading today and its average intensity is 1.95 meg shares. CRM’s 52-week trading arrange is $20.82 to $66.99.
EARNINGS SUMMARY: $21.2 meg or $0.17 EPS, up from $10 meg or $0.08 EPS a year ago. Revenues were $316.1 million, up from $263.1 meg a year ago. Thomson Reuters figures were $0.15 EPS and $312.54 meg in revenues. It also added 3,900 gain newborn customers to more than 63,000 at the end of the quarter.
GUIDANCE: revenues due $323 to $324 million, and GAAP EPS of $0.15 to $0.16 cents; estimates were about $318 meg and $0.15 EPS. For Fiscal JAN-2010 income are due to be $1.27 1000000000 to $1.28 1000000000 and $0.60 to $0.61 EPS kinda than prior guidance of $1.25 to $1.27 1000000000 and $0.59 to $0.60 EPS.
JON C. OGG
ReneSola Ltd. (NYSE: SOL) is surging this morning. Goldman Sachs raised its rating to BUY from Neutral and called it digit of the solar industry leaders finished the current downturn. This is based upon its cost structure, downstream creation integration and its significant danger to the Chinese market as a low-cost manufacturer. The gain this farewell is despite the consort saying it expects losses after it announced involvement in a $706 meg solar pact in China. As of 9:25 AM EST we have shares up 13% at $5.55 (had been up 20% at digit point earlier) on 235,000 shares. Average volume is about 2.8 meg shares per day and the stock is still way down from its 52-week high of $19.70.
-JON OGG
Sears Holdings Corporation (NASDAQ: SHLD) is trading modify by almost 13% at $64.00 per share this morning. As of 8:51 AM EST we have seen over 445,000 shares change safekeeping after the retail giant posted a loss of $94 million, or -$0.79 EPS after items. Wall Street is no individual giving this one the “restructuring break” that has been the case for some time. Sears has a 52-week trading range of $26.80 to $108.75 and trades close to 1.4 million shares per day on average. -JON OGG
Rambus Inc. (NASDAQ: RMBS) is up over 7% at $18.55 at 2:00 PM EST on 3.6 million shares. This already represents 140% of cipher daily intensity and the reasons cited are rumors of a settlement on a case with NVIDIA Corporation (NASDAQ: NVDA). Be advised that this move now has Rambus at the higher-end of its 52-week trading range of $4.95 to $19.65. NVIDIA shares are down 1% at $13.20 but only on half of a day’s cipher volume. Rambus is one of these highbrowed concept companies which relies on patent and highbrowed concept licenses in the semiconductor and chip sector for effectively every of its revenues. We are also seeing elevated CALL OPTION activity in the August options which suspire this Friday:
STRIKE Volume Op.Int.
$17.00Â Â Â 1,032Â 11,580
$18.00Â Â Â 3,923Â 11,958
$19.00Â Â Â 4,082Â 6,302
$20.00Â Â Â 3,709Â 10,384
SEPTEMBER 2010 CALL option activity is elevated as well:
STRIKE Volume Op.Int.
$18.00Â Â Â 5,021Â 1,485
$19.00Â Â Â 4,640Â 1,092
$20.00Â Â Â 4,039Â 2,917
$21.00Â Â Â 1,110Â 1,078
$22.00Â Â Â 2,640Â 1,926
-JON OGG
We have seen some elevated call option activity in Cameco Corp. (NYSE: CCJ), Canada’s crowning nuclear and metal play. The SET-2009 CALLS have been active while the stock has not. So far we have 577,000 shares traded as of 11:15 AM EST and shares are up 0.5% at $28.25 vs. an average daily volume of most 2 meg shares and a 52-week trading range of $11.78 to $30.83. While there is not firm news, this does come on the heels of news that it has filed a shelf catalogue for an substance of up to C$1 billion of senior unsecured debentures. Here is the SEPT-2009 CALL data:
Strike.. Volume.. Op.Int.
$30.00.. 5,000Â Â 12,979
$31.00.. 12Â Â Â Â Â Â Â Â Â 649
$32.00.. 270Â Â Â Â Â 1,917
$33.00.. 2,495Â Â Â 2,253
JON C. OGG
AUGUST 19, 2009
Cerus Corporation (NASDAQ: CERS) is sight a surge after announcing that the land regulatory body titled Swissmedic has approved the ingest of platelet components aerated with Cerusâ INTERCEPT Blood System. The company noted that this support extends permissible hardware instance for platelets to heptad days with INTERCEPT treatment, compared to five days without treatment. Be advised that the land market is a small market, but is also a key to other market. Cerus shares at 8:48 AM EST have already traded 150,000 shares and the terminal change was up over 30% at $2.35. Average volume is about 370,000 shares and the market cap was only $58 million as of the close yesterday. The 52-week high here is $5,02, so this one is not off its charts. -JON OGG