Investors took heart from the stronger-than-expected quarterly results reported by some important companies that are considered as one of the best economic health parameters. Alcoa Inc., the largest US aluminum producer gained 1.2 percent to close at $11.00 per share after it announced its results and raised its estimate for global aluminum consumption. CSX Corp. and Intel Corp. also reported earnings and revenue that beat analysts' expectations to close the Tuesday’s trading session on the green.
CSX announced that its economy's upward momentum will continue this year, providing a good parameter for the US economic recovery as it ships a wide range of products. Alcoa has a varied customer base that provides an economic indicator of what is happening in a broad range of other industries. Intel and other chipmakers’ sells are considered a good gauge of the health of the economy as they signal consumers’ optimism.
As a result major US stocks along with US-listed Chinese stocks posted profits Tuesday. The China 100 stock index won 14.45 points or 1.76% to 837.53. The Panda China Large Cap Stock Index climbed back 10.38 points or 1.06% to close at 994.01. The Tiger China Small & Mid Cap Stock Index jumped 20.28 points or 2.53% to close at 822.45 and the Dragon China Undervalued Stock Index won 7.63 points or 1.11% to close at 697.46.
China Kangtai Cactus Bio (CKGT) [1.35, 0.06, -4.26%] a vertically integrated grower, developer, manufacturer and marketer of a variety of cactus-based products in China, announced today that it has entered into an equity purchase agreement with Kodiak Capital Group, LLC to support its expansion and growth strategies. The company intends to use $1 million in proceeds to help finance marketing projects for its cactus-based cigarettes and soft drinks. The company also plans to acquire additional equipment for its newly purchased cigarette manufacturing plant and its soft drinks operations to enhance current and future production capacity.
ReneSola Ltd. (SOL) [7.30, 0.18, -2.41%] announced on July 1st its preliminary second quarter results and gave an updated second half guidance. Revenue is expected in the range of $245 million to $255 million which exceeds the prior guidance of $230 million to $250 million. It is also up 21% to 25.8% from first quarter revenue of $206.6 million. Gross profit margin also is projected to jump to the range of 28% to 30%, far exceeding its previous guidance range of 21% to 23%. Total solar shipments also exceed the company's prior range as it is projected to be 250 megawatts [MW] to 260 MW, up from 230 MW to 250 MW.
LDK Solar Co., Ltd. (LDK) [6.15, 0.23, +3.89%] a leading manufacturer of solar wafers and PV products, today announced that it has signed a module supply contract with Italy-based Enel.Si S.r.l., a wholly owned subsidiary of Enel S.p.A. Under terms of the agreement, LDK Solar will supply Enel with LDK Solar branded modules totaling 50 megawatts [MW], 30 MW deliverable in this quarter and an option for an additional 20 MW in the fourth quarter of 2010. "As demonstrated by this contract, our module business continues to build momentum. We hope to continue to expand our relationship with Enel and partner on future projects." stated Xiaofeng Peng, Chairman and CEO of LDK Solar.
Longtop Financial Technologies Limited (LFT) [32.17, 0.22, +0.69%] a leading software developer and solutions provider targeting the financial services industry in China, today announced that the Company has won a contract from a leading brokerage firm in China to provide Business Intelligence [BI] solutions. Under the contract for the initial phase of the project, Longtop will design and implement a centralized data warehouse to support the customer's current and future analytical applications; integrate data from its transaction and other business systems; and develop an initial data quality management platform.
Agilysys, Inc., a leading provider of innovative information technology and hospitality software solutions, today announced that Melco Crown Entertainment Limited (MPEL) [3.94, 0.18, +4.79%] a developer and owner of casino gaming and entertainment resort facilities focused on the Macau market, has selected the Stratton Warren System inventory and procurement solution for its gaming properties in Macau. The solution will be implemented at Altira Macau, an upscale casino hotel located in Taipa; City of Dreams, an integrated urban resort located in Cotai that includes hotels, casinos, restaurants, retail shops and entertainment; and the Mocha Clubs, which feature approximately 1,500 gaming machines in eight locations, comprising the largest non-casino based operation of electronic gaming machines in Macau.
Universal Travel Group (UTA) [6.30, 0.21, +3.45%] a leading travel services provider in China offering package tours, air ticketing, and hotel reservation services, today announced a partnership with Agoda, a subsidiary of Priceline.com, to strengthen its hotel reservation business segment and upgrade its website. Under the agreement, Universal Travel Group will offer its customers access to Agoda's international network of hotels. Through the updated cnutg.com website, travelers will be able to enjoy special Agoda promotions and instant confirmation at tens of thousands of hotels worldwide.
Today at the Intersolar North America conference Yingli Green Energy Holding Company Limited (YGE) [12.23, 0.37, +3.12%] announced that its U.S. subsidiary, Yingli Green Energy Americas, Inc., has been selected to provide 15 megawatts of solar modules for 16 solar power systems at multiple Kaiser Permanente hospitals and office facilities across California. Nearly 65,000 Yingli Solar multicrystalline modules are being delivered between now and mid-year 2011. The modules were chosen by the project's designer and installer, Swinerton Renewable Energy, a San Francisco-based green building leader, as well as the plant's owner and operator, Recurrent Energy, a San Francisco-based independent power producer. The projects will generate approximately 180 union and green jobs in California.
| TOP GAINERS |
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China TransInfo Technology Corp. (CTFO) |
7.19 |
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1.46 / + 25.48% |
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Synutra International Inc. (SYUT) |
17.43 |
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1.55 / + 9.76% |
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Asia Cork Inc (AKRK) |
0.25 |
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0.02 / + 8.70% |
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China Mass Media Corp. (CMM) |
1.94 |
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0.15 / + 8.38% |
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China Automotive Systems Inc. (CAAS) |
18.40 |
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1.20 / + 6.98% |
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| TOP LOSERS |
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China Kangtai Cactus Bio (CKGT) |
1.35 |
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0.06 / - 4.26% |
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Tiens Biotech Group USA Inc. (TBV) |
1.78 |
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0.06 / - 3.26% |
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ReneSola Ltd. (SOL) |
7.30 |
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0.18 / - 2.41% |
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China Armco Metals, Inc. (CNAM) |
3.21 |
|
0.07 / - 2.13% |
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Telestone Technologies Corp. (TSTC) |
8.81 |
|
0.19 / - 2.11% |
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 China-Biotics, Inc. (CHBT) files 424B3 - Prospectus [Rule 424(b)(3)]. On March 22, 2006, we entered into and completed a securities exchange transaction with Sinosmart Group Inc., or SGI, and the shareholders of SGI, pursuant to which the SGI shareholders transferred all of the equity securities of SGI to us in exchange for an aggregate of 15,980,000 shares of our common stock. We refer to this transaction in this prospectus as the share exchange. At the closing of the share exchange, SGI became our wholly-owned subsidiary. Immediately after the share exchange and related transactions described elsewhere in this prospectus, the former SGI shareholders and their designees collectively owned 98.7% of our common stock. See “Business - History”.
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 Fuqi International, Inc. (FUQI) files 8-K - Current report. On July 7, 2010, Fuqi International, Inc., a Delaware corporation (the “Company”), Fuqi International Holdings Co., LTD., a British Virgin Islands company and wholly-owned subsidiary of the Company, and Mr. Chujian Huang entered into an amendment (the “Amendment”) to the Intellectual Property Transfer Agreement dated April 18, 2008 (“IP Transfer Agreement”). The IP Transfer Agreement was originally entered into in connection with Fuqi Subsidiary’s acquisition of the intellectual property rights related to Shanghai Tian Mei Jewelry Co. Ltd. and Beijing Yinzhong Tian Mei Jewelry Co. Ltd. (the “Temix Companies”), pursuant to which a total of 1,080,666 shares of common stock of the Company were issued into escrow in exchange for such intellectual property, with one-half of the shares, or 540,333 shares, to be released to Mr. Huang after each of the first and second year anniversary of the closing of the transaction upon the achievement of certain performance targets set forth in the IP Transfer Agreement.
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 Suntech Appoints Amy Yi Zhang to Spearhead Strategic Project Finance Initiatives. SAN FRANCISCO and WUXI, China, July 13 /PRNewswire-Asia/ -- Suntech Power Holdings Co., Ltd. (NYSE:STP - News), the world's largest producer of crystalline silicon solar panels, today announced that Ms. Amy Yi Zhang will assume a new role as Vice President in charge of Suntech's strategic project finance initiatives. Ms. Zhang has served as Suntech's Chief Financial Officer since August 2005 and a director since 2007.
"Amy Zhang has served a vital role in the growth and global expansion of Suntech to date and we are extremely grateful for her enormous contribution as CFO," said Dr. Zhengrong Shi, Suntech's Founder, Chairman and CEO. "As we look to Suntech's future, we believe project financing initiatives will be an integral component of our evolution as a leading provider of solar solutions worldwide. Given her rich history with Suntech and deep understanding of the solar industry along with her financial acumen and extensive knowledge of project economics, she is the natural and ideal figure to help spearhead our project strategies globally."
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|  | The China 100 Stock Index closed Tuesday, July 13, 2010:
832.39  14.26 (1.74 %) | | | China TransInfo Technology Corp. (CTFO) led the Gainers closing 7/13/2010:
7.19 1.46 (25.48 %)
| | | China Kangtai Cactus Bio (CKGT) was the Index biggest loser closing 7/13/2010:
1.35  0.06 (4.26 %)
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| | The China Vesting Large Cap Stock Index (Panda) closed Tuesday, July 13, 2010:
999.20 10.39 (1.05 %) | | | Baidu, Inc. (BIDU) led the Index closing 7/13/2010:
74.38 3.65 (5.16 %)
| | | Perfect World Co., Ltd. (PWRD) was the Index biggest loser closing 7/13/2010:
24.24 0.45 (1.83 %)
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| | The China Vesting Small and Mid Cap Stock Index (Tiger) closed Tuesday, July 13, 2010:
809.07 20.12 (2.55 %) | | | China TransInfo Technology Corp. (CTFO) led the Index closing 7/13/2010:
7.19 1.46 (25.48 %)
| | | ReneSola Ltd. (SOL) was the Index biggest loser closing 7/13/2010:
7.30 0.18 (2.41 %)
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| | The China Vesting Undervalued Stock Index (Dragon) closed Tuesday, July 13, 2010:
697.01 7.18 (1.04 %) | | | Asia Cork Inc (AKRK) led the Index closing 7/13/2010:
0.25 0.02 (8.70 %)
| | | China Kangtai Cactus Bio (CKGT) was the Index biggest loser closing 7/13/2010:
1.35 0.06 (4.26 %)
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