This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

China Stocks Set to Gain on Strong Earnings

NEW YORK (TheStreet) -- A host of Chinese companies listed in the U.S. are expected to report quarterly results this week. Two companies among these belong to the clean tech space , on which we've been quite bullish.

We believe this is a good opportunity for investors to benefit from a likely upside in the stock prices of these companies.

Trina Solar (TSL) is an integrated solar-power products manufacturer based in China with a global distribution network covering Europe, North America and Asia. The company reported its first-quarter earnings before the market opened Tuesday.

Trina's earnings stood at 66 cents per share, surpassing consensus estimates of 61 cents. Moreover, revenue more than doubled to $336.8 million from $132.1 million a year ago.

According to a Bloomberg survey, revenue was estimated to be $328.25 million. Looking forward to the second quarter, the company forecasts its shipments to range between 200MW and 205MW, up from 192.6MW during the first quarter.

Credit Suisse and Auriga recently rated the stock an outperformer and a buy with a price target of $24, implying a 36% upside from current levels. The stock has corrected 31.3% during the last one month. Solarfun Power (SOLF) manufacturers photovoltaic cells and modules and supplies solar integration services in China.

Recently, the company announced it plans to raise its PV cell and module capacities to more than 500MW by July and 900MW by August in order to meet increasing demand from its customers during the second half of 2010.

The company is expected to report earnings of 15 cents a share on revenue of $191.12 million during the first quarter ended in March. This compares with a loss of 2 cents a share on revenue of $100.13 million during the year-earlier first quarter.

Auriga rated the stock a buy with a price target of $9, representing a 40% upside from current levels. The stock has lost 26.7% during the last one month. Shanda Games (GAME) develops, sources and operates internet games in China. The company is expected to report its first-quarter results on June 2.

The company is forecasted to report earnings of $1.16 a share on revenue of $1.17 billion for the first quarter. This compares with earnings of $1.44 a share on revenue of $1.34 billion during the fourth quarter ended December 2009.

Stock quotes in this article: TSL, SOLF, GAME 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs