China Ming Yang Wind Power Group Ltd (NYSE:MY) up by 9.72%, Centrais Eletricas Brasileiras SA (ADR) (NYSE:EBR.B)

Posted by Nathan Alexander May 17, 2013 0 Comment 742 views


Miami, FL 05/17/2013 (GDPInsider) – China Ming Yang Wind Power Group Ltd (NYSE:MY) on Thursday traded up by 9.72% to close at $0.0395, with total traded volumes of 0.209 million in comparison to its average volume of 0.633 million shares. The market capitalization of the company is $1.06 million at the current price levels. The stock traded below its 52-week high of $0.47 and is above its 52-week low of $0.03. China-based wind turbine manufacturer China Ming Yang Wind Power Group Ltd recorded a gross profit of $59.4 million for the full year 2012, despite a total comprehensive loss of $48.7 million. 2012 was claimed as a tough year for MY as well as the overall industry. Last year, the company sold around 894.5 megawatts worth of wind turbines for total $464.4 million revenue, representing 45.3% decrease from the turbines sold in 2011. China Ming Yang expects its first off-shore wind power project to begin construction by the second half of 2013 in order to mark its foray into the off-shore market.

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Centrais Eletricas Brasileiras SA (ADR) (NYSE:EBR.B) on Thursday traded up by 10.86% to close at $4.49, with total traded volumes of 0.390 million in comparison to its average volume of 0.383 million shares. The market capitalization of the company is $1.08 billion at the current price levels. The stock traded below its 52-week high of $10.73 and is above its 52-week low of $3.44. Centrais Eletricas Brasileiras SA (Eletrobras) is a Brazil-based holding company operated 36 hydroelectric plants, 120 thermal plants, two nuclear power plants and four wind and solar farms. Latin America’s largest company in the electricity sector is a parent company of 12 subsidiaries. For the first quarter of 2013, Eletrobras recorded a decrease of 102.8% recording a net loss of R$ 36 million, compared to a net income of R$1,268 million in 1Q12.

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About Nathan Alexander

Nathan Alexander holds bachelor’s degrees in Journalism and European Studies from Boston University. Nathan reports round up the day’s business and financial market news and include keynote interviews with major business players and updates on Asian, European and US stock markets. He has interviewed heads of leading European banking institutions such as European Central Bank President Jean-Claude Trichet and HSBC Chairman Stephen Green, and CEOs from the business world including Microsoft founder Bill Gates, Virgin Chairman Sir Richard Branson and former Porsche President and CEO Dr Wendelin Wiedeking.

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