LDK SOLAR CO LTD - Signs Major Contract with Hyundai
LDK Solar Co., Ltd (NYSE: LDK), a leading manufacturer of solar wafers, is trading up 2.16% following the Company’s August 29, 2008 announcement that it has signed a seven-year contract to supply multicrystalline solar wafers to Republic of Korea-based Hyundai Heavy Industries Co., Ltd (HHI).
Under the terms of the agreement, LDK Solar will deliver approximately 440 MW of multicrystalline silicon solar wafers to Hyundai Heavy Industries Co., Ltd over a seven-year period, commencing in 2009 and extending through 2015. Hyundai Heavy Industries Co., Ltd will make a down payment representing a portion of the contract value to LDK Solar. To read the entire story, click here:
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CONSTELLATION ENERGY PARTNERS – To Sell its Upstream Gas Assets
Constellation Energy Partners LLC (NYSE: CEP) is trading off 1.99% following the Company’s August 28, 2008 announcement that it intends to sell its upstream gas assets.
“We have been informed of Constellation Energy’s decision to sell its upstream gas assets,” said Stephen R. Brunner, president and chief executive officer of Constellation Energy Partners. “Constellation Energy informed us that they are committed to continuing to provide all the services to the company as agreed to in its Management Services Agreement. We value our strategic relationship with Constellation Energy and appreciate their commitment to continue to provide ongoing support to our company. We intend to work closely with our Board of Managers and the management team at Constellation Energy to evaluate the potential impact that their current and future decisions may have on our company. As we move forward through the process we will focus on developing a plan that is in the interests of our company and unitholders.
“We do not expect any immediate impact on our business operations and we remain focused on running the business and executing on our strategic plan. We continue to focus on achieving our 2008 commitments and delivering cash flow stability and future growth to our unitholders.” To read the entire story, click here:
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ENERGY CONVERSION DEVICES – Reports Net Income of $.24 per share for Q4.
Energy Conversion Devices, Inc. (ECD) (Nasdaq: ENER), the leading global manufacturer of thin-film flexible solar laminate products for the building integrated and commercial rooftop markets, is trading down 2.40% despite the Company’s August 28, 2008 announcement of its financial results for the fourth quarter and fiscal year ended June 30, 2008.
Total consolidated revenues for the quarter were $82.4 million, up 18 percent from third quarter revenues of $70.0 million, and 129 percent higher than fourth quarter fiscal 2007 revenues of $36.0 million. Solar product sales were $77 million, a 19 percent sequential increase and a 161 percent increase over the prior-year quarter.
Net income for the fourth quarter was $9.9 million, or $0.24 per share, compared to net income of $7.0 million, or $0.17 per share, in the third quarter of fiscal 2008, and a net loss of $13.1 million, or $0.33 per share, in the year-ago period. To read the entire story, click here:
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