E Better Mood Day

Melinda French Gates will be the honoree at my Radcliffe commencement this year, but I probably will not go there even virtually because the whole point is to meet your old buddies at a simple outdoor lunch after the ceremony. She is divorcing her partner in charity donations, Bill Gates, but continuing to push for female charity donations on behalf of their jointly run and funded foundation.

Today markets are in a better mood than earlier this week. Hurray! Only one company we still hold is reporting today. Yesterday Larry Summers issued an inflation warning. Yesterday evening some Fed governors joined in. Today Warren Buffett issued an inflation warning. But all this was nullified by much lower filings for unemployment insurance last week, 444,000 vs much higher forecasts.

The US Treasury plans to require IRS reporting on US cryptocurrency trades of $10,000 and up to prevent tax evasion. 


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Green from green stocks

*Canadian Solar, CSIQ, is today's top performer after it reported Q1 sales up 32% from prior year to $1.09 bn, up from its own $1 bn guidance and beating the consensus forecast of $1.05 bn. The boost came from higher sales in the US and Japan, the latter a new market, despite lower numbers of solar modules shipped. Its gross margins at 17.9% were the highest ever for the company and were up from a prior quarter level of only 13.6% thanks to higher margin product sales which offset higher costs of manufacturing the panels.

Net income was up 228.6% from last Q1 at $23 mn or 36¢/sh, missing the consensus forecast of 41¢. It doubled its stoarage project pipeline according to CEO Dr. Shawn Qu, and generated $83 mn in operating cashflow and $152 bn in holdings of cash and equivalents.

CSIQ estimates Q2 reveneus at $1.4-1.5 bn, ahead of the consensus forecast of $1.37 bn. Full year guidance is $5.6-6 bn in revenues, vs the current consensus of $5.64 bn.

Iniially CSIQ fell 1.8% for missing the EPS figure but now it is up 5.7% as markets got optimistic.

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