Solyndra Bankruptcy is Melting Solar Stocks
Wall St. Watchdog reveals information about the solar power industry. Solar power startup Solyndra LLC, which got a $535 million loan guarantee from the Department of Enrgy in 2009, has declared bankruptcy, citing cost pressures from low-cost Chinese competitors. The solar power industry is trading down on the news today. Following is a summary of related market action:
- JA Solar Holdings Co. (NASDAQ:JASO): The shares recently traded at $3.58, down $0.08, or 2.17%. About the company: JA Solar Holdings Company, Ltd. manufactures solar cells. The Company sells its products principally to solar module manufacturers, which assemble and integrate its products into modules and systems.
- LDK Solar Co., Ltd. (NYSE:LDK): The shares recently traded at $5.52, down $0.19, or 3.33%. About the company: LDK Solar Company, Ltd. manufactures multicrystalline solar wafers. The Company sells multicrystalline wafers globally to manufacturers of photovoltaic products including solar cells and solar modules. Solar wafers are the principal raw material used to produce solar cells which convert sunlight into electricity.
- Trina Solar Limited (NYSE:TSL): The shares recently traded at $14.85, down $1.03, or 6.49%. About the company: Trina Solar Limited manufactures solar-power products including photovoltaic wafers, ingots, cells and modules. The Company’s solar modules provide environmentally-friendly electric power for residential, commercial, industrial, and other applications worldwide.
- Suntech Power Holdings (NYSE:STP): The shares recently traded at $5.04, down $0.21, or 4%. About the company: Suntech Power Holdings Company Ltd. produces solar cells. The Company designs, develops, manufactures and markets a variety of photovoltaic cells and modules. Suntech Power is based in China.
- JinkoSolar Holding Co. (NYSE:JKS): The shares recently traded at $16.19, down $0.22, or 1.34%. About the company: JinkSolar Holding Company Limited manufactures solar products. The Company produces silicon wafers, solar cells and solar modules.
- Yingli Green Energy Holdings (NYSE:YGE): The shares recently traded at $6.04, down $0.34, or 5.33%. About the company: Yingli Green Energy Holding Company Limited designs, manufactures and sells PV modules. The Company also designs, assembles, sells and installs PV systems that are connected to an electricity transmission grid or those that operate on a stand-alone basis.
- First Solar, Inc. (NASDAQ:FSLR): The shares recently traded at $96.80, down $3.18, or 3.18%. About the company: First Solar, Inc. designs and manufactures solar modules. The Company uses a thin film semiconductor technology to manufacture electricity-producing solar modules.
- China Sun Energy Co., Ltd. (NASDAQ:CSUN): The shares recently traded at $1.18, down $0.04, or 3.28%. China Sunergy Company Limited manufactures and distributes solar cells for solar modules. The Company produces its solar cells from silicon wafers utilizing crystalline solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect.
- SunPower Corporation (NASDAQ:SPWRA): The shares recently traded at $13.89, down $0.21, or 1.49%. About the company: SunPower Corporation is an integrated solar products and services company that designs, manufactures and markets high-performance solar electric power technologies.
(Note: Selected financial data are sourced from Google Finance. All data are assumed to be accurate.)
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