Solars Shine as China Moves for More M&A of Failing Firms (JKS) (JASO) (YGE)
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Solar stocks are trading higher today amid news that China might be open to consolidation of its troubled solar-products companies.
According to the WSJ, the move would cut down on overcapacity in the industry, benefiting those left standing when the dust settles.
China's State Council released a statement outlining a few of the measures that would be taken, including encouraging M&A reduction in government support, and ban local governments from supporting failing solar firms. China would also move to ease restrictions for companies to declare bankruptcy.
Moving higher on the session today are names like Suntech Power (NYSE: STP), LDK Solar (NYSE: LDK), China Sunergy (Nasdaq: CSUN), Yingli Green Energy (NYSE: YGE), JK Solar (NYSE: JKS), Trina Solar (NYSE: TSL), ReneSola (NYSE: SOL), JA Solar (Nasdaq: JASO), and others.
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According to the WSJ, the move would cut down on overcapacity in the industry, benefiting those left standing when the dust settles.
China's State Council released a statement outlining a few of the measures that would be taken, including encouraging M&A reduction in government support, and ban local governments from supporting failing solar firms. China would also move to ease restrictions for companies to declare bankruptcy.
Moving higher on the session today are names like Suntech Power (NYSE: STP), LDK Solar (NYSE: LDK), China Sunergy (Nasdaq: CSUN), Yingli Green Energy (NYSE: YGE), JK Solar (NYSE: JKS), Trina Solar (NYSE: TSL), ReneSola (NYSE: SOL), JA Solar (Nasdaq: JASO), and others.
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