Renewed economic concerns, spurred on by American International Group Inc’s unexpected loss and Wal-Mart Stores Inc’s forecast of lower sales growth took the Dow down and Alternative Energy Stocks struggled as a result, closing mixed but leaning toward the downside as well. Oil rebounded $1.47 on heightened worries about a direct conflict between Israel and Iran. Oil finished the day at $119.80.
LITHIUM-ION STOCKS
Lithium-ion stocks struggled as four out of five automakers closed down and decliners outpaced advancers by barely manged to close on the upside as advancers edged out decliners by 10 to 5.
ENER1 Inc (Amex: HEV) was the only stock showing respectable gains with the stock rising early then holding on to the gain throughout the day then closing up 2.90% at $7.45.
General Motors (NYSE: GM) took the biggest hit among lithium-ion stocks closing down 4.88% at $9.75.
ZAP, Inc (OTCBB: ZAAP) was off slightly today closing down 3.8% at $.76 however on a more positive note, we are pleased to announce that ZAP has made arrangements to provide greater access by investors seeking investments in alternative energy stocks by positioning themselves as our feature company on the lithium-ion stocks page. We will be providing a featured company page that you can visit that will allow you to conduct your due diligence easily and quickly. Our feature company pages provide links to SEC filings, reports, news articles as well as message boards where the company is discussed. Our ZAP Inc featured company page will be appearing soon. Watch for it.
SOLAR ENERGY STOCKS
It was lights out for the Solar energy stocks rally as decliners trounced advancers 13 to 5.
Evolution Solar (Pink Sheets: EVSO) had an outstanding day as it’s stock traded about 5 times the normal volume and closed up 12.82% at $2.20 following the Company’s announcement that they will be participating in the Solar Power International event in San Diego, CA.
Daystar Technologies Inc (Nasdaq: DSTI) also had a respectable day with its stock closing up 5.94% at $3.39 following the release of their 2nd Q report disclosing a $7.3 million net loss.
Akeena Solar Inc. (Nasdaq: AKNS) took another hit today after yesterday’s 2nd Q report showing widening losses. The stock lost another 4.03% closing at $4.05.
Also on the downside Yingli Green Energy Holdings (NYSE: YGE) continued to the downside again today pack closing down 4.49% at $15.09
GEOTHERMAL STOCKS
Geothermal stocks went against the current closing to the upside today with advancers leading decliners 5 to 4.
Raser Technologies (NYSE/Arca: RZ) made a nice recovery today moving back up another 3.89% to close at $9.35 as did Nevada Geothermal (OTCBB: NGLPF) which finished the day up 3.08% at $1.19. on light volume.
US Geothermal (Amex: HTM) had a respectable winning session as the stock closed up 8.25% to $2.36
PG&E stumbled a bit closing down .58% at $37.58 but revealed an encouraging fact to alternative energy proponents. In an earnings conference call with analysts and investors on Wednesday, Peter Darbee, chairman and chief executive of PG&E Corp. and president and CEO of its utility subsidiary, said the company has received a large number of bids for solar power projects and solar thermal power plants under its 2008 renewable energy solicitation. He went on to indicate that for this solicitation, the company had seen more bids for solar projects than it has seen historically.
WIND ENERGY STOCKS
Wind energy sector caught a tail wind today and wound up with advancers leading decliners 9 to 6.
Broadwind Energy Inc (OTCBB: BWEN) kept the pressure on again today and continued to move up slowly as their stock finished the day up 2.86% at $17.75.
FPL Group (NYSE: FPL) was another winning stock finishing up 3.29% at %59.09.
On the other hand, American Superconductor (Nasdaq: AMSC) continued to struggle as the market continued to demonstrate it’s displeasure with the company’s 2nd Q report by taking the stock down another 1.71% to $28.20.
Mass Megawatt Wind (OTCBB: MMGW) seemed to be suffering from the summer doldrums as the stock finished down 6.06% to $1.55 on very light trading.
BIOFUEL STOCKS
The Biofuel sector wound up down today as decliners led advancers 6 to 4 but news released after the market closed could buoy the stocks in tomorrows trading. The EPA has denied the Texas Governor’s request to reduce ethanol requirements due to rising corn prices. Good news for ethanol producers but not so good for corn dog aficionados.
Pacific Ethanol (Nasdaq: PEIX) had a great day trading up 12.23% to close at $2.11 on almost twice the average volume.
Xethanol Corporation (Amex: XNL) also showed considerable strength closing up 12.15% to $.48 on moderate volume.
Archer Daniels Midland Co (NYSE: ADM) fell back again after yesterday’s gains losing 4.86% at $26.03
FUEL CELL STOCKS
Fuel Cell stocks got spanked and sent to their room today as 12 stocks declined with only 2 making it up to higher ground
.Quantum Fuel Systems (Nasdaq: QTWW) was one of those fuel cell stocks that held on to a gain and it did it in fine style as its stock closed up 11.45% to $1.85. This is a stock that seems to be showing renewed determination after turning downward in late June.
UQM Technologies, Inc (Amex: UQM) was the other winner closing up 5.77% at $2.75.
Plug Power (Nasdaq: PLUG) filed its Q2 report disclosing a $22.8 million loss and the stock responded immediately dropping and staying down till it closed at $2.21 off 6.36%.
FuelCell Energy Inc (Nasdaq: FCEL) was one of the top losers as it closed down 9.76% at $7.12 on 50% more volume than usual.
Power Plug (Nasdaq: PLUG) also had trouble as it was announced that its stock was being downgraded by “Ardour’ Capital from Accumulate to “Hold”. The stock responded at the open then managed to regain some by mid day but couldn’t get back to even as it closed down 5.43% to $2.09.
NUCLEAR ENERGY STOCKS
The nuclear energy stocks pushed today as the ups matched the downs equally and the lack of serious movement in either direction confirmed the lack of commitment.
Cameco Corp (NYSE: CCJ) finished up .86% at %32.74 and Constellation Energy Group (NYSE: CEG) was up .74% to $74.60
USU Inc. (NYSE: USU) dropped 1.94% to $5.05 after reporting earnings of $10.8 million and Southern Co (NYSE: SO) lost .81% to finish the day at $35.33.
