Wall Street News Alert: Stock Watch Issued on SOEN! June 15, 2006
Wall Street News Alert’s “stocks to watch” this morning are: Solar EnerTech Corp. (OTCBB: SOEN), Ciena(R) Corporation (NASDAQ: CIEN), NVIDIA Corporation (NASDAQ: NVDA) and Brocade Communications Systems, Inc. (NASDAQ: BRCD).
Once again, Solar EnerTech Corp. (OTCBB: SOEN) should be a target of aggressive investors and day traders this morning! Yesterday after the stock markets closed, the company issued a press release announcing that the company is ramping up towards its near term goal to quickly achieve solar cell manufacturing capabilities to meet rapidly increasing demand in the solar power market, which grew 55% last year according to a newly published research report.
News of the company’s intended progress should get the attention of investors! Clean Edge, Inc. reports the solar photovoltaic (PV) market grew to $11.2 billion in 2005 and estimates it will reach $51.1 billion by 2015. Solar EnerTech is focused on the development and manufacture of quality solar cells, new applications and advanced technologies to take advantage of the burgeoning opportunity in the solar industry.
Published in March by Clean Edge, a research and publishing firm, “Clean Energy Trends 2006″ states: “For the first time in modern history, clean energy technologies are becoming cost-competitive with their ‘dirtier’ counterparts. While oil and natural gas prices remain stubbornly high and frustratingly volatile across the globe, and as nuclear and coal-based energy remains dogged by environmental and safety concerns, clean energy prices continue their near-relentless downward march.”
Continue to watch this company! The report asserts that the clean energy market has gained considerable momentum and represents one of the fastest-growing technology sectors in the world. According to its research, solar PV including modules, system components, and installation) is up 55% over 2004 and will grow from an $11.2 billion industry in 2005 to $51.1 billion by 2015.
Investors should continue to look for news from Solar EnerTech! The research also notes that a shortage of silicon feedstock materials is posing a challenge for the solar industry as companies face hurdles acquiring enough high-grade silicon to keep pace with demand. Earlier this week Solar EnerTech reported the execution of a Letter of Intent with PAIS Industries Group whereby PAIS Industries would supply the Company with 1,200 metric tons of solar grade silicon ingots for a duration of three years. The intent of the LOI is to supply Solar EnerTech with silicon feedstock needed to manufacture its leading edge solar cells and ensure access to affordable materials regardless of industry-wide shortages or price shifts. The arrangement is contingent upon completion of a formal agreement between PAIS Industries and the government of the Inner Mongolia Autonomous Region to allow PAIS the rights to develop and process locally mined silicon into a marketable solar grade end product.
Wall Street News Alert is continuing to place Aggressive Investors on alert to monitor the progress of Solar EnerTech! According to the press release, construction of Solar EnerTech’s new state-of-the-art solar cell manufacturing plant in Shanghai is running ahead of schedule and within budget. The projected production capacity for its facility is estimated at an output of 20 megawatts per production line. At current prices this projection translates into roughly $37.5 million dollars in annual revenue per line. The Company’s strategic plan is to have the initial 20 megawatts in production by fourth quarter of this year.
Prior to the latest press release, the stock closed yesterday at $1.51 a share.
For an in-depth profile of Solar EnerTech Corp, visit http://www.thenewssvc.com/SOEN061406.html.
To view all of Wall Street News Alert’s special early morning trading alerts for this morning, visit www.WallStreetNewsAlert.com, where you may also sign up to receive free email alerts in advance of our press releases being issued.
In case you are not familiar with the company: Solar EnerTech is a photovoltaic (PV) solar energy cell manufacturing enterprise based in Shanghai, China where the Company is establishing a sophisticated 42,000 square foot manufacturing and research facility in Shanghai’s Jinqiao Modern Science and Technology Park. Solar EnerTech plans to invest in PV cell research to develop higher efficiency cells and put the results of that research to use immediately in its manufacturing processes. Led by one of the industry’s top scientists, the Company’s R&D program will work to bring Solar EnerTech to the forefront of advanced solar technology research and production. The Company has also established a marketing, purchasing and distribution arm in Northern California’s Silicon Valley.
Ciena(R) Corporation (NASDAQ: CIEN) up 6% on 27.6 million shares traded.
Ciena Corporation is the network specialist, focused on expanding the possibilities for its customers’ networks while reducing their cost of ownership.
NVIDIA Corporation (NASDAQ: NVDA) up 2.9% on 8 million shares traded.
NVIDIA Corporation is one of the leaders in programmable graphics processor technologies.
Brocade Communications Systems, Inc. (NASDAQ: BRCD) up 2.1% on 7.9 million shares traded. Brocade delivers industry-leading platforms, solutions, and services for intelligently connecting, managing, and optimizing IT resources in shared storage environments.
Commentary:
“The markets managed to keep into the green by midday on Wednesday as economists, analysts, and investors rethink the economic numbers released by the government the past two days. Various polls of economists and analysts now say there is a 100% chance, up from 84% last week, that the Fed will increase short-term rates to 5.25% when they meet at the end of June. An upgrade of various chip stocks, led by Intel, also aided the markets,” stated Sonja Rudd in Wall Street News Alert’s daily commentary continued at: http://www.WallStreetNewsAlert.com.
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