LDK Solar gapped up 16% this morning after announcing a signed contract with Q-Cells AG (Germany). The contract is to supply Q-Cells with six giga watts multicrystalline solar wafers over a 10 year period. Q-Cells will pony up 10% of the purchase price initially to help finance the necessary expansion.
Blackstone is up this morning on news that they are putting together a consortium to make an offer for RTP. Part of this consortium is rumored to be a Chinese sovereign wealth fund. This helps explain why the original Chinese investment in BX before the public offering was so attractive. Fortress Investment Group is up on the news as well.
Mindray Medical is up sharply this morning and the only news appears to be from Jim Cramer. While I’m not one to follow Mr. Cramer blindly, I have been watching this stock for some time and believe the company has a good fundamental basis. It is now breaking above a small handle and it appears demand is in control.
The market is significantly higher today following a trend we have seen since the end of November. Remember that bear markets are punctuated by violent positive moves in major indices. While the price action is concerning, I would advise leaving some powder dry as the fundamental picture still urges caution.
update 12/10
May 7th, 2011 at 2:33 pm
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June 18th, 2011 at 3:55 am
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