When oil prices moved over $30 a barrel in the mid 1980s, it was considered a significant event. It also signaled the birth of small ethanol companies in the Midwest. Many of them managed to hang around long enough to get a second wind when Iraq’s invasion of Kuwait and the ensuing Gulf War pushed oil prices pushed past $40.
Pacific Ethanol (PEIX) is down 28% this morning on good news. The company has new plant open. But it’s stock fell. What’s going on?
Monday’s alt energy results can be summed up in four words: Solar shines. Fuels flop.
Quarterly earnings tripled for Chinese solar maker LDK Solar (NYSE:LDK) on soaring demand for solar power, while ethanol producer Pacific Ethanol (NASDAQ:PEIX) reported a wider-than-expected loss on surging corn prices.
J. Christoph Amberger in Today’s Financial News says these results create a great opportunity for investors. Yesterday, shares in LDK Solar rose 15 percent. And J. Christoph reckons solar maker ReneSola (NYSE:SOL) may now do the same…
Lowe’s Reports 1Q Declines; Oracle of Omaha for Obama; Microsoft, Yahoo at it Again; Staples Launches Hostile Takeover of Corporate Express; News Corp. Increases Premier Stake; Take-Two Snubs EA; Pacific Ethanol Stock Surges Despite Loss; Feds to Investigate DeVry.
