E Carbon Capture

How good it is that the “Dreamers” who came to the USA illegally but have lived here all their lives are being given citizenship. The House of Representatives voted for this yesterday and there may be difficulties with the slim majority the Democrats have in the Senate. But given that these people often have family members who already vote, I think the Senate will back the measures.

I am still locked out of my laptop and composing on “the clunker”, my venerable desktop computer.

While foreign markets are up, US markets again are mostly down because the Federal Reserve is not extending its decision last year to lower capitalization ratio permission. This allowed banks to count Treasury bills as a way to meet reserve requirements. The ECR measure was passed to calm markets a year ago in the height of the panic and now are felt to be unneeded. Anything on T-bills scares Wall St.

Our markets are also upset at the insults passed between Pres. Biden and Vladimir Putin, whom he called a murderer, not without reason. Separately, Russia increased its interest rates for the first time in nearly three years. Meanwhile, the summit with China in icy Alaska was icy too. China decided to retaliate against US sanctions on its state-sector telephone equipment companies by starting its trial of two Canadians charged with spying. It also will restrict use of Tesla vehicles by its military and police.

Another attack on Saudi Arabian oil sites, on the refinery in Riyadh, was claimed by Yemen's Houthis, potentially boosting oil prices which have dropped precipitously this week.

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Carbon Capture

*Canadian Solar, CSIQ, thoroughly beat in its Q4, earning 11¢/sh whereas the consensus forecast was for a loss of 55¢, up 13% sequentially, boosting its share price today by 6.7% to $45.73. Q4 revenues also beat even its own high estimate at $1.04 bn. Full-year eps came to $2.38 and sales revenues also beat at $1.04 bn for the year. So did gross margins, at 13.6% for Q4 and 19.8% for the year. The conference call after the market closed yesterday revealed one reason for the big win: that the structure of the Chinese energy business was changed to include the former Modules and Systems Solutions, and its China Energy business now includes solar projects and asset management. It has revised its earlier reports for FY20-21 to reflect the changes. Its main business is solar energy and storage and the latter is now growing like topsy as CSI's proprietary solar batteries win sales. It now has 6 gigawatts of pipeline in storage system integrator business, an expected future big money earner, helped by green activism and its ability to retrofit storage on existing solar energy systems. It closed the FY with $1.6 bn in cash and cut its debt to $2.2 bn. Its share rose 8% at the open and was upgraded to buy from hold by CFRA.

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