This Day On The Street
Continue to site
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

Power-One Fights Tumble With Buyback

NEW YORK ( TheStreet) -- Solar inverter company Power-One (PWER) announced after the close of the market on Tuesday that it's beginning a stock buyback program of up to 10 million shares, or 6% of the solar inverter company's 160 million outstanding common shares.

Power-One shares could use some support.

The solar inverter stock has been the hardest hit of any solar stock since German solar inverter giant SMA Solar said last week that 2011 may be a difficult year for inverter company margins.

Power-One shares are down 22% in the past five trading days -- and were down more than 25% at the worst moment of the decline. Even when Power-One shares staged a comeback on Monday, the bearish pressure sank the solar inverter shares again yesterday.

Other inverter stocks took a tumble too, but have recovered since last week, or in the least, cut their losses. SMA Solar is down 7% over the past five trading days, though since it held its annual Capital Markets Day last week, that was probably not the trading response for which the German solar inverter giant was looking.

The two other U.S. solar inverter plays, SatCon (SATC) and Advanced Energy Industries (AEIS), have minimal losses over the past five trading days -- though Advanced Energy shares are actually down in the year-to-date period by close to 6%, and SatCon shares up only 19.5%, a minor rise compared to Power-One's 140% share skyrocketing this year, at least before last week's share decline.

Once the Power-One buyback program was announced after the market close, however, the solar inverter company's shares rallied by close to 4%. Power-One shares were up by more than 4% in pre-market trading on Wednesday, though volume was light. Power-One was by far the biggest decliner in the solar sector last week.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
PWER $0.00 0.00%
AEIS $33.90 -1.90%
FB $119.19 1.20%
GOOG $709.74 1.20%
TSLA $214.99 1.60%


Chart of I:DJI
DOW 17,727.66 +66.95 0.38%
S&P 500 2,057.46 +6.83 0.33%
NASDAQ 4,733.1610 +16.0670 0.34%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs