Solars Pressured Following Negative Sector News (JASO) (STP) (TSL) (YGE)

July 30, 2012 9:05 AM EDT
Solar stocks are on watch Monday morning following a couple of news tidbits released earlier.

First, Trina Solar (NYSE: TSL) cut second-quarter shipment expectations, now seeing a range of 390 to 420 megawatts (MW), from 500 to 520 MW prior. Shares are indicated lower early.

Suntech Power (NYSE: STP) said its investment in Global Solar Fund, S.C.A. may have been fraudulent due to collateral that may or may not have existed.

Both of the solar companies' stocks are much lower in early trading.

JA Solar (Nasdaq: JASO) said it entered into an equity transfer agreement where the company would acquire 65 percent interest in Hebei Ningjin Songgong Semiconductor Co., owned by an AU Optronics Corp. (NYSE: AUO) subsidiary, for about $38.9 million.

Competitors/peers include: SunPower (Nasdaq: SPWR), Yingli Green Energy (NYSE: YGE), First Solar (Nasdaq: FSLR), LDK Solar (NYSE: LDK), ReneSola Ltd. (NYSE: SOL), Candian Solar (Nasdaq: CSIQ). Also track the Guggenheim Solar ETF (NYSE: TAN).

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