Risky Patriot Games for Renewable Energy

Source: The Wall Street Journal, Liam Denning (12/28/10)

"When government subsidies falter, renewable energy prospects fade to black."

Have you heard about China's secret plan to build itself a shield against climate change while everyone else roasts? Neither have we. National rivalry always lurks around industries so dependent on government support as renewables. Just before Christmas, egged on by the United Steelworkers, the U.S. Trade Representative said China's subsidies to domestic wind firms blocked American competitors. France suspended subsidies on some solar projects; the environment minister said 90% of its solar panels are from China.

Protectionism is counterproductive for an industry predicated on global agreements to fix the climate. But "green jobs" owe more to domestic politics than multilateralism.

BOA Global Research Analyst Matthew says: "Protectionism helps inefficient companies, like European solar manufacturers, to survive by selling product at a much better price than it would. . .be able to in open markets." Longer term, by raising costs, it would ultimately damage renewable energy's prospects.

Yates thinks a protectionist outbreak unlikely. But the fact that he sees it as "the best bull case" for the sector speaks volumes about the key role politics plays in supporting renewable energy valuations—and hurting them.

Spain's government cut solar subsidies by 30% 4 last week. And this will have more impact on existing than new projects—Spain has hosted 18% of new solar installations over five years but should account for just 3% of installations globally this year, Stifel Nicolaus says.

This retroactive cut will worry investors in solar projects beyond Spain, as it isn't the only country struggling to balance its public finances. Pressure is building for more subsidy cuts in Germany, whose position as the world's No. 1 in solar installations despite its hardly torrid climate testifies to the power of government incentives. When that power supply falters, renewable energy stocks' prospects are plunged into darkness.

Novavax Shares Shoot 65% Higher on Phase 3 COVID-19 Vaccine Trial's 89.3% Effectiveness
Source: Streetwise Reports (01/29/2021)

Novavax Inc. shares established a new 52-week high after the firm's COVID-19 vaccine demonstrated an 89.3% efficacy rate in a Phase 3 trial in the U.K. and also showed efficacy against the South African variant in a Phase 2b trial.

Abiomed Shares Gain 8% After Firm Announces Record Q3 Revenue of $232 Million
Source: Streetwise Reports (01/28/2021)

Shares of cardiac medical device maker Abiomed Inc. traded higher after the company reported record revenue for Q3/21 despite the impact from COVID-19.

Sorrento Shares Rise 35% After Firm Posts Positive Data from Phase 1b ICU COVID-19 Trial
Source: Streetwise Reports (01/27/2021)

Shares of Sorrento Therapeutics traded higher after the company released positive preliminary results from it of Phase 1b COVI-MSC™ Study for treatment of hospitalized ICU COVID-19 patients.

Junior Mining Sector 'the Best Value in the Space'
Source: Streetwise Reports (01/27/2021)

The StreetSmart Live! Broadcast on Jan. 26, 2021, focused on metals and why now is a good time for investors to be looking at them and the mining space. John Newell, independent analyst and portfolio manager, and John Feneck, mining sector expert and president of Feneck Consulting, addressed the status of the current metals market. CEOs of the three metals-focused companies comprising the Metallic Group of Companies—Group Ten Metals, Metallic Minerals and Granite Creek Copper—discussed their projects.

Vir Shares Climb 48% on Initial Phase 1 Chronic Hepatitis B Trial Data
Source: Streetwise Reports (01/26/2021)

Vir Biotechnology shares traded higher after the company reported data from its Phase 1 Chronic Hepatitis B Study that showed VIR-3434 significantly and rapidly reduced hepatitis B surface antigen.

Aurinia Pharma Shares Open at 52-Week High as FDA Approves Adult Lupus Nephritis Drug
Source: Streetwise Reports (01/25/2021)

Shares of Aurinia Pharmaceuticals traded 30% higher after the company reported that the U.S. Food and Drug Administration approved its LUPKYNIS™ (voclosporin) for use in treating adults with active lupus nephritis.

AzurRx Doses First Two People in Expanded Phase 2b Trial of Cystic Fibrosis Patients
Source: Streetwise Reports (01/22/2021)

AzurRx BioPharma shares traded 45% higher after the firm advised it had dosed the first two patients in its Phase 2b OPTION 2 Extension Study of MS1819 for treatment of exocrine pancreatic insufficiency in patients with cystic fibrosis.

NGL Energy Shares Rise 21% as It Seeks to Raise $2.05 Billion from Senior Secured Note Offering
Source: Streetwise Reports (01/21/2021)

Shares of NGL Energy Partners LP traded higher after the firm made a series of announcements over the past three days regarding an update on financial operations, a settlement with a customer in bankruptcy, a quarterly Class D unit distribution and a $2.05 billion senior secured debt offering.

Explorer Discovers New Gold Mineralization at Abitibi Gold Belt Property
Source: Streetwise Reports (01/21/2021)

iMetal Resources is setting out to see if the multi-million ounce gold resource next door continues onto its Gowganda West property in Ontario.

Gritstone Oncology Licenses LNP Platform from Genevant Sciences to Develop COVID-19 Vaccine
Source: Streetwise Reports (01/20/2021)

Shares of Gritstone Oncology reached a new 52-week high price after the company advised it entered into a non-exclusive licensing agreement with Genevant Sciences to develop and commercialize self-amplifying RNA vaccines for use against SARS-CoV-2.