Nov 23-27: Stocks Take Dubai World of Hurt

29 November of 2009 by

Dubai aerial istock 584 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
NASDAQ 2146.04 2138.44 -7.600 -.3554 1628.03 1293.85
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
Kyocera KYO 78.90 78.65 -.15 -.3178 71.87 54.21
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
Renesola SOL 4.08 3.85 -.23 -5.974 5.15 2.1201
Satcon SATC 2.02 1.97 -.05 -2.538 1.60 1.23
SolarFun SOLF 6.64 6.39 -.25 -3.912 6.12 2.30
SunPower SPWRA 21.48 20.05 -1.43 -7.132 45.13 23.39
SunTech STP 15.18 14.18 -1.00 -7.052 13.55 5.34
Trina Solar TSL 44.43 44.13 -.30 -.6798 10.09 7.23
Yingli YGE 13.75 13.37 -.38 -2.842 7.25 3.888
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.

Source

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