What happened
Solar stocks took a beating Monday after China cut its national incentives to install solar projects. Shares of solar panel manufacturers Canadian Solar Inc. (NASDAQ:CSIQ) fell as much as 14.5%, JinkoSolar Holding Co. (NYSE:JKS) dropped as much as 17%, and Daqo New Energy Corp (NYSE:DQ) fell as much as 31.3% while inverter manufacturer Enphase Energy Inc (NASDAQ:ENPH) fell up to 13.5%. By early afternoon, most major stocks in the solar industry were down double digits.
So what
There were two pieces of China’s solar ruling, one having to do with distributed generation (DG) and the other with utility-scale solar.
Image source: Getty Images.
On the DG side, China put a cap of 10 gigawatts (GW) for new solar projects in 2018, down from 19 GW installed in 2017. According to Asia Europe Clean Energy Advisory Co (AECEA), there may already be more than 10 GW of DG projects installed in China, so that could make it tough to build any projects in the second half of the year.
Top Clean Energy Stocks For 2019: NextEra Energy, Inc.(NEE)
Advisors’ Opinion:
- [By Logan Wallace]
Argent Trust Co lifted its holdings in shares of NextEra Energy Inc (NYSE:NEE) by 67.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,148 shares of the utilities provider’s stock after buying an additional 12,598 shares during the period. Argent Trust Co’s holdings in NextEra Energy were worth $5,414,000 at the end of the most recent reporting period.
- [By Ethan Ryder]
Get a free copy of the Zacks research report on NextEra Energy (NEE)
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- [By Lisa Levin] Companies Reporting Before The Bell
United Technologies Corporation (NYSE: UTX) is estimated to report quarterly earnings at $1.51 per share on revenue of $14.62 billion.
The Coca-Cola Company (NYSE: KO) is expected to report quarterly earnings at $0.46 per share on revenue of $7.31 billion.
Caterpillar Inc. (NYSE: CAT) is projected to report quarterly earnings at $2.07 per share on revenue of $11.93 billion.
Verizon Communications Inc. (NYSE: VZ) is expected to report quarterly earnings at $1.11 per share on revenue of $31.22 billion.
Lockheed Martin Corporation (NYSE: LMT) is estimated to report quarterly earnings at $3.42 per share on revenue of $11.28 billion.
The Sherwin-Williams Company (NYSE: SHW) is projected to report quarterly earnings at $3.15 per share on revenue of $3.94 billion.
Biogen Inc. (NASDAQ: BIIB) is expected to report quarterly earnings at $5.92 per share on revenue of $3.15 billion.
3M Company (NYSE: MMM) is estimated to report quarterly earnings at $2.52 per share on revenue of $8.26 billion.
JetBlue Airways Corporation (NASDAQ: JBLU) is projected to report quarterly earnings at $0.2 per share on revenue of $1.75 billion.
Eli Lilly and Company (NYSE: LLY) is expected to report quarterly earnings at $1.13 per share on revenue of $5.49 billion.
Harley-Davidson, Inc. (NYSE: HOG) is estimated to report quarterly earnings at $0.88 per share on revenue of $1.25 billion.
Corning Incorporated (NYSE: GLW) is expected to report quarterly earnings at $0.3 per share on revenue of $2.50 billion.
Centene Corporation (NYSE: CNC) is projected to report quarterly earnings at $1.88 per share on revenue of $13.28 billion.
The Travelers Companies, Inc. (NYSE: TRV) is estimated to report quarterly earnings at $2.77 per share on revenue of $6.75 billion.
Wipro Limited (NYSE: WIT) is expected to report quarterly earnings at $0.07 per share on revenue of $2.16 billion.
PACCAR Inc (NASDAQ: PCAR) is projected to - [By Shane Hupp]
Shares of NextEra Energy Inc (NYSE:NEE) have been given an average recommendation of “Buy” by the fourteen analysts that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $178.75.
- [By Joseph Griffin]
Wendell David Associates Inc. raised its stake in NextEra Energy Inc (NYSE:NEE) by 1.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,474 shares of the utilities provider’s stock after acquiring an additional 760 shares during the period. NextEra Energy accounts for about 1.4% of Wendell David Associates Inc.’s investment portfolio, making the stock its 20th biggest holding. Wendell David Associates Inc.’s holdings in NextEra Energy were worth $9,130,000 as of its most recent filing with the Securities & Exchange Commission.
Top Clean Energy Stocks For 2019: TriMas Corporation(TRS)
Advisors’ Opinion:
- [By Logan Wallace]
TriMas (NASDAQ: TRS) and Shiloh Industries (NASDAQ:SHLO) are both small-cap industrial products companies, but which is the superior stock? We will contrast the two companies based on the strength of their risk, dividends, profitability, valuation, analyst recommendations, institutional ownership and earnings.
- [By Max Byerly]
Liberum Capital reissued their buy rating on shares of Tarsus Group (LON:TRS) in a research report released on Friday.
A number of other analysts have also commented on the company. Peel Hunt reaffirmed a buy rating on shares of Tarsus Group in a research report on Friday, June 29th. Deutsche Bank initiated coverage on Tarsus Group in a report on Tuesday, June 26th. They set a buy rating and a GBX 360 ($4.69) price objective for the company. Finally, Numis Securities reissued a buy rating on shares of Tarsus Group in a report on Thursday, July 26th.
- [By Ethan Ryder]
Shares of TriMas Co. (NASDAQ:TRS) hit a new 52-week high and low during trading on Monday . The company traded as low as $28.95 and last traded at $28.20, with a volume of 1202 shares trading hands. The stock had previously closed at $28.60.
- [By Logan Wallace]
Get a free copy of the Zacks research report on TriMas (TRS)
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- [By Stephan Byrd]
TriMas (NASDAQ:TRS) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
Top Clean Energy Stocks For 2019: Rigel Pharmaceuticals Inc.(RIGL)
Advisors’ Opinion:
- [By Trey Thoelcke]
Here too, the low price makes this stock an attractive target. Rigel Pharmaceuticals Inc. (NASDAQ: RIGL) is engaged in the discovering, developing and providing novel small molecule drugs that improve the lives of patients with immune and hematological disorders, cancer and rare diseases.
- [By Joseph Griffin]
Get a free copy of the Zacks research report on Rigel Pharmaceuticals (RIGL)
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- [By Dan Caplinger]
Thursday ended in the red for most major benchmarks on Wall Street, with the Dow trading down by triple digits at times before climbing back toward the close. After having bounced back sharply in recent days, stocks seemed to lose upward momentum, and interest rate fears returned to the market. The yield on the 10-year Treasury bond once again moved above the 2.9% mark, and shorter-term Treasurys had yields reach levels they haven’t seen in years. Yet even though the overall market was ready to take a break, some companies still enjoyed good news that lifted their shares. Bank of New York Mellon (NYSE:BK), Snap-on (NYSE:SNA), and Rigel Pharmaceuticals (NASDAQ:RIGL) were among the best performers on the day. Here’s why they did so well.
- [By Cory Renauer]
Here’s why analysts are willing to stick their necks out and predict huge gains ahead for these fledgling drugmakers. Just remember, huge potential rewards usually come with a great deal of risk.
Company (Symbol) Bank Recent Price Target Implied Upside at Recent Prices
Tocagen Inc. (NASDAQ:TOCA) Citigroup $27 141%
Vital Therapies, Inc. (NASDAQ:VTL) Cantor Fitzgerald $18 142%
Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Citigroup $8.50156%
Top Clean Energy Stocks For 2019: Woori Bank(WF)
Advisors’ Opinion:
- [By Stephan Byrd]
Woori Bank (NYSE:WF) and ANZ (OTCMKTS:ANZBY) are both large-cap finance companies, but which is the better investment? We will compare the two businesses based on the strength of their risk, earnings, analyst recommendations, institutional ownership, profitability, valuation and dividends.
- [By Stephan Byrd]
Get a free copy of the Zacks research report on Wells Fargo (WF)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Joseph Griffin]
News headlines about Woori Bank (NYSE:WF) have been trending somewhat positive recently, Accern Sentiment Analysis reports. Accern identifies positive and negative media coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Woori Bank earned a news sentiment score of 0.19 on Accern’s scale. Accern also assigned press coverage about the bank an impact score of 46.2147954877183 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
Top Clean Energy Stocks For 2019: Vermillion, Inc.(VRML)
Advisors’ Opinion:
- [By Max Byerly]
Vermillion, Inc. (NASDAQ:VRML) CFO Robert Harry Beechey acquired 75,000 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The shares were acquired at an average cost of $0.61 per share, for a total transaction of $45,750.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
- [By Stephan Byrd]
Media headlines about Vermillion (NASDAQ:VRML) have been trending somewhat positive this week, Accern reports. The research firm ranks the sentiment of news coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Vermillion earned a coverage optimism score of 0.03 on Accern’s scale. Accern also gave media headlines about the company an impact score of 46.6924212135165 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
- [By Joseph Griffin]
Vermillion (NASDAQ: VRML) and Myriad Genetics (NASDAQ:MYGN) are both medical companies, but which is the better stock? We will contrast the two businesses based on the strength of their dividends, profitability, risk, analyst recommendations, valuation, earnings and institutional ownership.
- [By Benzinga News Desk]
Shari Redstone is one “disloyal” media heiress, according to CBS (NYSE: CBS): Link
ECONOMIC DATA
US Initial Jobless Claims for May 18 234.0K vs 220.0K Est; Prior 222.0K. US Continuing Claims for May 11 1.74M vs 1.75M Est; Prior 1.71M
Existing home sales report for April will be released at 10:00 a.m. ET.
The Energy Information Administration’s weekly report on natural gas stocks in underground storage is schedule for release at 10:30 a.m. ET.
Atlanta Fed President Raphael Bostic will speak at 10:35 a.m. ET.
The Treasury is set to auction 7-year notes at 1:00 p.m. ET.
The Kansas City Fed manufacturing index for May will be released at 11:00 a.m. ET.
Philadelphia Federal Reserve Bank President Patrick Harker is set to speak at 2:00 p.m. ET.
Data on money supply for the latest week will be released at 4:30 p.m. ET.
ANALYST RATINGS
UBS upgrades Deere (NYSE: DE) from Neutral to Buy
Wells Fargo upgrades Oceaneering (NYSE: OII) from Market Perform to Outperform
Canaccord downgrades Vermillion (NASDAQ: VRML) from Buy to Hold
Wedbush downgrades Karyopharm Therapeutics (NASDAQ: KPTI) from Outperform to NeutralThis is a tool used by the Benzinga News Desk each trading day — it's a look at everything happening in the market, in five minutes. To get the full version of this note every morning, click here.
Top Clean Energy Stocks For 2019: Basilea Pharmaceutica Ltd. (BPMUF)
Advisors’ Opinion:
- [By ]
Basilea Pharmaceuticals (OTC:BPMUF)
BPMUF Is a Swiss company with commercialized products in the anti-infection space, but they are also working on agents in cancer research. One of these agents, BAL101553, is a prodrug of a so-called “tumor checkpoint controller” inhibitor, which destabilizes microtubules to disrupt dividing cells. This phase 1/2a study assessed the safety and the recommended dosage for this agent. The phase 1 portion of the trial recruited 20 patients to receive various doses of BAL101553.
- [By Stephan Byrd]
Get a free copy of the Zacks research report on Basilea Pharmaceutica (BPMUF)
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