Investing

More Solar Woes From JinkoSolar and Suntech Power (JKS, STP)

One day, all of the bad news coming from the solar sector will be priced in.  That day is not yet here as both JinkoSolar Holding Co. (NYSE: JKS) and Suntech Power Holdings Co., LTD (NYSE: STP) are selling off after their earnings reports.

JinkoSolar Holding Co. (NYSE: JKS) is trading off the worst of the two solar players. The Chinese solar product maker reported weaker than expected sales and the soft selling prices continued to pressure margins here.  Shipments did actually manage to beat the company’s guidance even if the rest of the earnings report was short of expectations.

Suntech Power Holdings Co., Ltd. (NYSE: STP), also from China, reported a much wider loss than expected at -$0.76 per share and revenues were down by almost one-third. Guidance on its gross margin in the first quarter is expected to be only 3% to 6% and shipments in the first quarter may decline by about 30%.

Both companies are suffering from the same woes as elsewhere: excess capacity, over-supply from China at below-cost production, and U.S. and European austerity measures pressuring solar investments at a loss.  The long and short of it is that there is still going to be an extended period of harsh competition for all solar players.

Suntech Power shares are down about 1.5% at $2.87 and JinkSolar shares are down about 4.3% at $5.70.  Neither stock is at a 52-week low today, but they are both down so far from 52-week highs that it is truly an embarrassment.

At least the sector still has the Administration behind it… Go Solyndra!

100 Million Americans Are Missing This Crucial Retirement Tool

The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.

Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.

A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.

Click here to learn how to get a quote in just a few minutes.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.