News of a struggling economy overruled the positive news Tuesday that worldwide investments in renewable energy and energy efficiency increased in 2007 by 60% to $148 Billion causing most alternative energy sectors to falter. The biofuels sector, however showed strength with a slight majority of the stocks showing gains.
BIOFUELS
Most notably, Gushen Environmental (NYSE: GU) was down more than 20% on heavy volume with no news to account for the sudden decline. On June 30th, the company announced the opening of a new biodiesel facility in China adding an additional 50,000 tons of annual production.
New Generation Biofuels, (AMEX: GNB) is trading down, only slightly after yesterday’s interview of company CEO, David A Gillespie on Fox Business News on the Fox Cable New system. The segment provided an overview of New Generation Biofuels’ “new class” of biofuel manufactured from vegetable oil and animal fat.
Nova Biosource (AMEX: NBF) showed modest strength, recovering after being downgraded by Jefferies & Company from Buy to Hold.
SOLAR
Solar energy stocks are mixed today with losers equaling gainers.
SunPower Corporation (NASDAQ: SPWR) is trading up following the release of its Second Quarter financial results.
Yingli Green Energy Holding Company Limited (NYSE: YGE) is trading off slightly despite the announcement of a 10MW sales contract in Belgium.
Evergreen Solar Inc. (NASDAQ: ESLR) is up slightly after a strong start after announcing a $325 million financing package through Lehman Brothers. Today they announced their earnings call for Thursday July 17th.
WIND ENERGY
Wind Energy stocks are mixed with advancers leading decliners by a very small margin.
JUHL Wind continues to decline, down another 2% as the company still seeks to find its level. With volume continuing to decline along with the price, it seems the newness has worn off the new kid on the alternative energy block. Juhl hit the market like gangbusters spiking from under $1.50 to nearly $5.50 over three days on very heavy volume. This spike was followed by sharp daily declines ever since as the buying dried up and the sellers took over.
One Beacon (NYSE: OB) is trading off slightly after announcing it is filing a shelf registration with the SEC for the sale of $1 Billion worth of securities. Additionally, the company is registering 71.75 million shares of Class B common shares for White Mountain Insurance Group, Ltd.
LITHIUM-ION
Lithium-ion stocks were generally off today with decliners widely leading advancers.
Valence Technologies (NASDAQ: VLNC) is off following their announcement yesterday that they had fulfilled the order from Tanfield Group PLC (LSE: TAN)
NUCLEAR ENERGY
Dominion Resources (NYSE: D) is trading off slightly today following the announcement that their 88s megawatt Unit 2 at the Millstone nuclear power station in Connecticut will be returned to full power by early Thursday, according to the Nuclear Regulatory Commission.
FUEL CELLS
Hydrogenics Corp (NASDAQ: HYGS) are off sharply today after struggling yesterday for the first time since they began their run up from $.75 to a high approaching $2.50. Trading today at $1.72 off $.33, the stock began its climb following the announcement that Shell Oil was opening a hydrogen refueling station in Los Angeles built by Hodrogenics.
FuelCell Energy (NASDAQ: FCEL) is trading up more than 5% today despite an announcement that Global Crown Capital has initiated coverage with an initial rating of “overweight”.
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