Suntech Power News

It's hard not to notice the huge tilting solar walls at the headquarters of Suntech Power Holdings, the world's largest producer of silicon solar modules, located in Wuxi city, East China's Jiangsu province.

LDK Solar Co. and Suntech Power Holdings Co. led declines in Chinese companies trading in New York last week, on prospects the nation's solar makers won't report a profit this year.

In many ways Suntech Power's first quarter earnings report provided some supportive insight into the process of consolidation currently underway in the solar industry.

Chinese equities dropped in the U.S., led by solar companies, as data signaled manufacturing in Asia's biggest economy may contract for a seventh month in May.

The analysts wrote, "With module prices expected to sustain at a lower level, we believe high cost solar companies need to re-invent themselves either as extremely low cost players or seek alternative, sustainable revenue streams, such as solar projects.

The analysts wrote, "Following steep 1Q downside punctuated by $45m in provisions, STP foresees a 20% Q/Q rebound in shipments but gross margins stuck at ~5% in 2Q.

Wuxi, China, May 23, 2012 - Suntech Power Holdings Co., Ltd. , the world's largest producer of solar panels, announced financial results for its first quarter ended March 31, 2012.

On the positive front, Suntech Power once again maintained its leading global market share position in the crystalline segment of the photovoltaic industry with 2011 annual shipments of 2096MW.

Ladies and gentlemen, we have a decision. On Thursday, the U.S. Department of Commerce announced the imposition of antidumping tariffs of more than 31 percent on solar panels from China.

Beijing should roll out policies to develop the rooftop solar power market in coastal eastern and southern regions, the head of a leading solar panel maker says.

The United States slapped hefty anti-dumping duties on Chinese solar cell makers Thursday in a move likely to heighten trade tensions between the two global economic powers.

On the commodities front,A Oil A declined to $92.48 a barrel. Precious metals also declined, withA Gold A rising to $1574 an ounce whileA SilverA increased 0.83% to settle at $28.00. BREAKING: Facebook priced its initial public offering at $38 per share - a more than $100 billion valuation.

Like most of the solar industry, JA Solar posted sizeable losses in 2011. With average selling prices tanking by as much as 70% throughout last year.

SunPower released its first-quarter results last week, posting a sequential drop in revenues in almost all major markets as demand for panels slowed down.