Traders Recap: ReneSola Ltd. (ADR) (NYSE:SOL), JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO), Boyd Gaming Corporation (NYSE:BYD)
ReneSola Ltd. (ADR) (NYSE:SOL) shares dropped 5.53% to $4.27. The company, on July 16, announced updates to its second quarter and full year 2013 outlook. The Company estimates its second quarter revenues to be in the range of $365 million to $375 million, as compared to its previously guided range of $310 million to $330 million. The Company estimates its second quarter solar module shipments to be in the range of 450 MW to 460 MW, compared to its previously guided range of 400 MW to 420 MW.
JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO) shares decreased 5.41% to $8.40. The company on August 5 announced that JA Solar and Jinglong Group, a related party of JA Solar, have secured a RMB 550 million credit facility from the Bank of Communications of China. Of the credit facility, RMB 250 million (US$40.8 million) will be available to JA Solar and RMB 300 million (US$48.9 million) will be available to Jinglong Group. JA Solar intends to use the credit facility for working capital and general corporate purposes.
Boyd Gaming Corporation (NYSE:BYD) shares dropped 5.23% to $12.13. The company on August 1 announced that it has priced a public offering of 16,500,000 shares of its common stock at $12.00 per share. Total gross proceeds from the offerings will be approximately $198,000,000, exclusive of any proceeds attributable to the underwriters’ possible exercise of their option to purchase additional securities. The closing of the public offering is expected to occur on or about August 7, 2013, subject to customary closing conditions.
Additionally, the company on July 30 reported a second quarter net income of $11.6 million or $0.13 per share compared with $0.97 million or $0.01 per share during the same quarter last year. The company reported adjusted breakeven per share for the quarter. The company posted net revenues of $738.7 million, from $614.1 million during the comparable quarter last year. Analysts expected the company to report breakeven per share on revenues of $740.33 million for the quarter.