Solar Firm Energy Conversion Devices Sliding On Bad Production News
Solar Firm Energy Conversion Devices Sliding On Bad Production News
Energy Conversion Devices is down around 23% after it announced it was cutting its production for the third quarter because of new solar restrictions in Italy and France.
The company produces, sells and installs solar panels.
CEO Mark Morelli said the company has to put projects on hold in the two key markets. He said the delay could impact as much as half of the company's forecasted revenue of $59 million.
From Credit Suisse analyst Satya Kumar (emphasis ours):
ENER is a relatively small company at only ~30MW/quarter of shipments and probably not the yardstick one should use to extrapolate for the entire sector. That said, the details surrounding the March revenue miss for ENER make us believe the incident is not isolated, and there could well be more negative pre-announcements to come from other companies.
Proving that ENER is not insulated, Lazard Capital cut ratings from buy to hold for Canadian Solar, China Sunergy, JA Solar and LDK Solar.Several other solar stocks were also down today:
- Evergreen Solar was down 9.68%
- SunPower was down 3.0%
- Ascent Solar was down 1.86%
Malaysia Gets Indonesia to Produce Film
Malaysia Gets Indonesia to Produce Film
Monday, 14 March, 2011 | 15:41 WIB
TEMPO Interactive, KUALA LUMPUR:The Malaysian government has asked Indonesia to produce a joint documentary on culture to reduce the potential for conflict between the two countries. “If the joint film is made, misunderstandings between us can be reduced,” said the Malaysian Information, Communication, and Culture Minister Rais Yatim, after officially opening the Bernama-Antara Summit 2011, in Kuala Lumpur on Saturday.
The Bernama-Antara Summit 2011 is the first meeting between both countries’ official news office heads. According to Rais, the two countries have had good relations. He mentioned the early 1970s when the Malaysian Language and Book Council collaborated with the Indonesian Book Hall on language acculturation. In the 1980s, state broadcasters in the two countries produced a show called Titian Muhibah.
Indonesian deputy ambassador to Malaysia Mulya Wirana, welcomed the invitation. He said Indonesia-Malaysia relations would be closer as a result of reporters working together. “The country’s role in diplomacy has become more restricted,” said Mulya.
Monday, 14 March, 2011 | 15:41 WIB
TEMPO Interactive, KUALA LUMPUR:The Malaysian government has asked Indonesia to produce a joint documentary on culture to reduce the potential for conflict between the two countries. “If the joint film is made, misunderstandings between us can be reduced,” said the Malaysian Information, Communication, and Culture Minister Rais Yatim, after officially opening the Bernama-Antara Summit 2011, in Kuala Lumpur on Saturday.
The Bernama-Antara Summit 2011 is the first meeting between both countries’ official news office heads. According to Rais, the two countries have had good relations. He mentioned the early 1970s when the Malaysian Language and Book Council collaborated with the Indonesian Book Hall on language acculturation. In the 1980s, state broadcasters in the two countries produced a show called Titian Muhibah.
Indonesian deputy ambassador to Malaysia Mulya Wirana, welcomed the invitation. He said Indonesia-Malaysia relations would be closer as a result of reporters working together. “The country’s role in diplomacy has become more restricted,” said Mulya.
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