Canadian Solar (NASDAQ:CSIQ) Soars in Pre-Market

Modern Energy Roundup - April 16, 2012

Written by Green Chip Stocks
Posted April 16, 2012 at 1:09PM

  • Capstone Turbine (NASDAQ:CPST) announced this morning that it landed a deal with a Michigan hospital to supply a dual-mode C1000 Power Package. The unit will provide both prime and backup power to save energy and increase reliability at the facility. Not sure how much this will do for the stock today, but I still maintain that Capstone Turbine below $1.00 is a gift. Particularly for those who can exercise a little patience.
  • Consolidation looks to continue in the solar space. On Saturday, the China Business Journal reported that China National Offshore Oil Co (CNOOC) is in talks to buy solar player Canadian Solar (NASDAQ:CSIQ). As a result, we're seeing a lot of positive movement in solar this morning. Don't know if this will actually play out, but as we've been saying for almost two years now, the solar space is undergoing some serious consolidation. And we expect this to continue for some time. CSIQ is up almost 12% at the time of this writing.


Reps from Canadian Solar have denied the CNOOC takeover talk.  A spokesperson wrote in an email:

"Canadian Solar is not currently in discussion with China National Offshore Oil Corp regarding a potential strategic transaction between the two companies."

And this is why I wrote, "Don't know if this will actually play out. . ."  Until the deal is done, it's not a deal. 

Of course, this doesn't change the fact that Canadia Solar popped nicely this morning.  The stock has shed a small amount of what it picked up in pre-market.  Will be interesting to see how this plays out throughout the rest of the day.

For more on Canadian Solar, and to get these types of updates delivered directly to your email, click here now.

Enjoy this article? Get more in our Free Newsletter

Get the inside track on the most lucrative stock plays in today's scorching-hot alternative and renewable energy markets.

Sign up for the FREE Energy and Capital daily e-Letter from alternative energy experts Jeff Siegel and Nick Hodge. We'll also send you our latest report on Wind Investing straight to your inbox.

Your Privacy is Assured.

Jeff Siegel on CNBC

Green Chip Stocks Editor Jeff Siegel, featured guest on CNBC's Green Week

Related Articles

LED Stock Update: SemiLEDS (NASDAQ:LEDS)
SemiLEDS (NASDAQ:LEDS) announces earnings.
Capstone Turbine (NASDAQ:CPST) Lands Another 10 Megawatts
Capstone Turbine picks up two more oil & gas deals, and China BAK Battery lands another order for its high-performance lithium-ion batteries.
Siemens (NYSE:SI) Lands $54 Million Rail Deal
Siemens picks up rail deal in Greece and China BAK Battery regains compliance.