Nov 23-27: Stocks Take Dubai World of Hurt
Get yourself a man-made island…
About$60 billion in debt is in danger of default by Dubai World, astate-owned conglomerate in the Middle East. This is the company makingthose surreal palm-shaped island resorts for the world’s mega-rich.Dubai is one of the seven emirates of the United Arab Emirates, whichfiguratively mints money with black gold. (Ed.: One would wonder how anarea so enriched by gross oil revenues could ever be over-extended oncredit.) According to the Dubai World website, the conglomerateFortunately however, it looks as though most debt liability will betaken by European institutions as most lenders in Europe are generallyexposed to the Middle East.
Still, the possible defaulthad a negative impact late this week on U.S. stocks, helping to setback the Dow down eight points and the NASDAQ about seven. The 20 SolarStocks Index (20SSI) dipped just over five points. Fifteen of the 20stocks finished down but none by much. Canadian Solar continued itsstrong position in the PV industry with a 51 cents per share gain, theindex leader.
20 Solar Stocks Index Week of Nov 23-27, 2009
|Monday Open||Friday Close||Up/Down||% Change||Close 1/5/09*||Close 3/6/09**|
|Dow Jones DJIA||10318.16||10309.92||-8.24||-.0799%||8952.89||6626.95|
|Akeena Solar AKNS||1.07||.95||-.12||-12.63||2.28||.61|
|Amtel Systems ASYS||6.15||6.20||+.05||+.8130||4.00||2.73|
|Applied Materials AMAT||12.28||12.29||+.01||+.0814||10.67||8.70|
|Canadian Solar CSIQ||21.01||21.52||+.51||+2.427||7.00||3.0601|
|ECD (UniSolar) ENER||10.57||10.15||-.42||-4.138||29.33||17.45|
|Entech Solar ENSL.OB||.1071||.1140||+.0069||+6.442||.28||.23|
|Evergreen Solar ESLR||1.47||1.39||-.08||-5.755||3.60||1.03|
|First Solar FSLR||121.18||120.30||-.88||-.7315||157.80||108.49|
|GT Solar Int. SOLR||4.74||4.83||+.09||+1.898||4.00||4.02|
|JA Solar JASO||3.96||3.83||-.13||-3.394||5.09||1.91|
|LDK Solar LDK||7.89||7.61||-.28||-3.679||14.84||4.40|
|MEMC Elect. WFR||12.08||12.06||-.02||-.1658||15.76||13.68|
|Trina Solar TSL||44.43||44.13||-.30||-.6798||10.09||7.23|
|20SSI Weekly Cumulative:||Previous 389.09||Current 383.83||Change -5.26/+1.37%||Avg Stock -2.091%||1/05/09* 415.41||3/06/09** 266.01|
* The starting date of the 20 Solar Stock Index (20SSI).
** The Concensus "new" bull market began on Monday, March 9, 2009.
NOTE: All above stocks have market capitalization of $100M+ except Akeena Solar, Amtel Systems
and Entech Solar. This listing is strictly informational and implies neither endorsement or disapproval
of any stock listed. Comments and suggestions are always welcome.
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