Matt's Feed
Jun 26, 2012

LDK Solar posts steep loss, shares slide

By Matt Daily

(Reuters) – China-based solar equipment manufacturer LDK Solar Co Ltd (LDK.N: Quote, Profile, Research, Stock Buzz) posted a larger-than-expected quarterly loss and forecast weak second-quarter sales, sending shares down nearly 9 percent to below $2 on Tuesday.

Solar analysts believe LDK’s weak cash position and tough environment for solar makers could hurt its ability to tap debt markets, making its future uncertain and possibly dampening investor interest in China’s solar sector, which holds more than 60 percent of the global solar market.

Jun 26, 2012

Solar production glut to persist to 2015: study

By Matt Daily

(Reuters) – Solar panel manufacturers face three more years of tough conditions until the market shuts down excess production capacity, according to a new report issued on Tuesday by renewable power consultancy GTM Research.

Production capacity for photovoltaic solar panels this year stands at 59 gigawatts, about double the 30 gigawatts expected to be sold into the global market, according to GTM analyst Shyam Mehta.

Jun 21, 2012

Analysis: Solar firms seek new financing as subsidies fade

By Matt Daily

(Reuters) – U.S. solar power developers are banking on a new set of financing tools to provide the cash for smaller projects as the pipeline for large power plants slows.

Growth in solar installations in the United States has outpaced forecasts in recent months as low panel prices pushed down costs, but the expiration of two key government subsidies last year has constrained financing.

Jun 19, 2012

U.S. Steel warns imports threatening pipe market

NEW YORK (Reuters) – A surge in imports of steel products into the United States so far this year could threaten the market for steel pipes for the oil and gas industry, one of the strongest sectors in the U.S. market, U.S. Steel Corp (X.N: Quote, Profile, Research, Stock Buzz) Chief Executive John Surma said on Tuesday.

Imports of steel pipe into the United States jumped sharply in the first four months of the year from 2011, Surma said, a sign that foreign companies could be breaching global trade rules.

Jun 13, 2012

U.S. solar installations jump in first quarter

June 13 (Reuters) – Solar installations in the United States
jumped 85 percent in the first quarter of 2012 from the previous
year, according to an industry report that prompted a research
firm and a lobbying group to raise their capacity forecasts for
the year.

That growth comes despite the pain solar panel makers around
the globe have suffered in recent months as an oversupply of
equipment nearly erased their profits and sent their share
prices tumbling.

Jun 8, 2012

Chesapeake shareholders rebuke board, seek changes

OKLAHOMA CITY, June 8 (Reuters) – Chesapeake Energy Corp
shareholders delivered a sweeping rebuke of the company’s board on Friday,
withholding support for two members up for reelection in the wake of a
governance crisis and poor financial performance at the U.S. oil and gas
company.

The company said the two directors — V. Burns Hargis, the president of
Oklahoma State University, and Richard Davidson, a former chief executive
officer of Union Pacific Corp — had tendered their resignations from
the board after winning the backing of just slightly more than a quarter of the
shareholder votes cast.

Jun 7, 2012

Fireworks expected at Chesapeake annual meeting

By Anna Driver and Matt Daily

(Reuters) – Chesapeake Energy Corp’s (CHK.N: Quote, Profile, Research, Stock Buzz) annual meeting promises to be raucous, with a vote on executive compensation in the spotlight, but the company’s biggest challenge will be convincing investors it is still a good investment despite the turmoil.

At the insistence of the company’s two largest shareholders, activist Carl Icahn and Mason Hawkins’ Southeastern Asset Management, Chesapeake said on Monday that four directors will resign and be replaced by shareholder representatives. Paul Hodgson, senior research associate at governance firm GMI Ratings expects they will include Richard Davidson and Burns Hargis, two Chesapeake directors up for reelection at Friday’s meeting.

May 29, 2012

NY pension fund urges no vote on Chesapeake directors

HOUSTON/NEW YORK (Reuters) – The head of New York’s state pension fund urged shareholders of Chesapeake Energy Corp (CHK.N: Quote, Profile, Research, Stock Buzz) to withhold votes to re-elect two members of the natural gas producer’s board.

Chesapeake’s board is under increasing fire from investors who want to see tougher oversight of Chief Executive Officer Aubrey McClendon. The company, in the midst of governance crisis, is also struggling financially as low natural gas prices take a toll.

May 24, 2012

CORRECTED: Analysis: New facilities spotlight next-generation biofuels

By Matt Daily

(Reuters) – After a decade of promise, advanced biofuels makers are entering a crucial make-or-break period with the first of a new generation of production facilities about to come on line.

The new facilities are designed to take biofuels beyond corn-based ethanol and begin to shift the industry to “advanced” fuels made with a lower carbon footprint derived from products that will not compete with demand for food.

May 21, 2012

Corrected: Analysis: New facilities spotlight next-generation biofuels

By Matt Daily

(Reuters) – After a decade of promise, advanced biofuels makers are entering a crucial make-or-break period with the first of a new generation of production facilities about to come on line.

The new facilities are designed to take biofuels beyond corn-based ethanol and begin to shift the industry to “advanced” fuels made with a lower carbon footprint derived from products that will not compete with demand for food.

    • About Matt

      "Matt is the Team Leader for the Raw Materials Group and is based in New York. He has worked in Reuters' bureaus in New York, Houston and Amsterdam."
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