Today, the US February unemployment report was released at 8:30 am. It revealed that another 36,000 American workers lost their jobs. Unemployment remained at 9.7%. The market expected worse numbers then reported. Therefore, at opening the stock market rose 95 points.
According to some statistics, the real unemployment number is 14.8 millions. I personally am skeptical regarding the numbers released today. I anticipate a revision of these figures. It is commonplace for the US government to revise numbers within a month, no matter what the report is issued.
SOLAEFUN POWER HOLDINGS CO. LTD “SOLF”
Yesterday “SOLF” reported their earnings for last quarter. The company returned to profitability and anticipates their 2010 volume of their shipments to be up 20%, from 500MW to 600MW. Prices for PV modules are about $1.95 per unit. As the development of solar energy becomes cheaper, it will be more affordable for buyers to purchase and use this technology. Therefore, it will become more practical for the masses to use. Future earnings can only improve.
In the past, I recommended this company. The 52 week low is about $2.28 a share and the 52 week high is $10.78. According to my opinion, the stock trading today around $7 a share is a buy.