In this report: New Oriental Education & Technology (NYSE:EDU), Sealed Air Corporation (NYSE:SEE) and Renasola (NYSE:SOL).
New Oriental Education & Technology (NYSE:EDU) shares are trading over 11 percent lower today after the company reported weaker than expected earnings for the second quarter and produced weaker than expected revenue forecast for the third quarter. The company posted earnings of 5 cents per share for the second quarter, missing analyst expectations by a penny per share. Revenue rose by 37.9 percent to $132 million, beating Wall Street estimates of $129.31 million. The company went on to say that it expects revenue of $168.3 million to $176.2 million in revenue for the third quarter, below the $177.16 million than analysts have predicted. New Oriental Education & Technology currently trades at $22.36 per share.
Sealed Air Corporation (NYSE:SEE) is trading over 4.7 percent higher today after the company announced that it has appointed Richard Wambold to its board. Richard Wambold is the former CEO of Pactiv Corp. The news helped boost the stock to its current price of $18.84 per share.
Solar stocks such as Renasola (NYSE:SOL) jumped significantly higher on Tuesday after Maxim Group Analyst Aaron Chew forecast an upbeat 2012 for the alternative energy. The analyst said that he expects 30 gigawatts of demand during 2012 and that China will surpass German as the world’s largest market with 5.5 gigawatts of solar ion this year. The move comes after Deutsche Bank analyst Vishal last week stated that unexpected strong demand from Germany, Italy and the U.S. could benefit the solar sector in the fourth quarter. The analyst stated “inventory levels across the supply chain are now at record low levels and we believe record December month shipments (in Germany) is likely to create a sense of rush among installers”. The renewed faith in Solar by a number of analyst has led to a rally in solar stocks during the first few week of 2012. Renasola currently trades 9 percent higher today at $2.39 per share.
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