• Home
• Videos
• Investment Research
• Hot Stock Confidential
• Tours and Conferences

Subscribe

SunPower (NASDAQ:SPWR), ReneSola (NYSE:SOL) gain on solar activity

Posted August 15, 2008

ReneSola (NYSE:SOL) and SunPower (NASDAQ:SPWR) gain on renewed solar buying activity.

by J. Christoph Amberger

Baltimore — (TFN): Shares of  Cypress Semiconductor Corporation (NYSE:CY) rose 15% on Friday after the chip maker said it plans a convertible debt buyback. Alright, that news would have left investors cold. Luckily, CY’s majority-owned subsidiary, SunPower Corp., was picked by a California utility for a large project.

San Francisco-based Pacific Gas and Electric Co. signed contracts to buy electricity from two huge solar power plants to be built near the Central California coast. The utility plans to buy 800 megawatts of renewable energy from SunPower (NASDAQ:SPWR financial news solar) and another company. SPWR rose over 20% over Thursday’s close on the news.

TFN’s solar earnings speculation, ReneSola (NYSE:SOL) was up another 8% today for a total gain of 17.5% this week. The company will be announcing earnings on Tuesday. For the time being, I’d move our stop loss to $18. Earnings may be spectacular, which would propel the share price until Thursday a week from now. Or they may be “alright”, in which case investors will sell off on Tuesday. Get ready to either sell or readjust your stop loss on Monday.

Thanks to the constant pressure from Laura Cadden, TFN has a number of “green energy” recommendations cooking. For the “next” alternative energy opportunity, watch her latest Smart Trading interview with Nick Hodge.

****Make sure you sign up for our FREE TFN News Feed for breaking news, special reports and new financial videos. Sign up through your favorite reader here. Or, if you prefer, have the feed delivered to your email.

Related Articles

• ReneSola (SOL) is our new solar earnings speculation - August 12, 2008
• Glad we took profits on ReneSola (SOL) when we did - August 19, 2008
• ReneSola (SOL) may fall, but Suntech (STP) is up 12% on earnings news - August 20, 2008
• The Death of Solar? Yet another bubble has popped! - October 7, 2008
• ReneSola (SOL) up 6% in first hour of trading - August 20, 2008

Comments

blog comments powered by Disqus

Advertisement

TFN Stock Tools

Indices: US-World | Most Actives

Stock Quotes & News