GreenHunter, China GrenTech Pops As Cardica, LJ International Get Buried

GreenHunter Energy (Amex: GRH) 70% HIGHER; For the second quarter of 2009, the Company reported net income to common shareholders, including one-time events, of $4.45 million ($0.13 per fully diluted common share) on total revenues of $1.7 million, compared to a net loss of $7.3 million ($0.37 loss per fully diluted common share) on total revenues of $468 thousand in the second quarter of 2008.

China GrenTech (Nasdaq: GRRF) 47% HIGHER; reports Q2 EPS of $0.08, 6 cents better than the analyst estimate of $0.02. Revenue for the quarter was $62 million, versus the consensus of $46.93 million.

Rentech (AMEX: RTK) 22% HIGHER; upside momentum resumes today. Since receiving approval to modify specs for commercial jet fuel to a 50/50 blend on August 6, shares have surged more than 200%. The stock is trading on extremely heavy volume.

Newcastle Investment (NYSE: NCT) 20% HIGHER; continuing higher today following yesterday’s break above the $1.00 level. Before yesterday, shares of Newcastle had not been above $1 since mid-May.


Cardica (Nasdaq: CRDC) 24% LOWER; reports Q2 loss of $0.22, 1 cent better than the analyst estimate of ($0.23). Revenue for the quarter was $1.2 million, versus the consensus of $2.91 million.

LJ International Inc. (NASDAQ: JADE) 22% LOWER; reports Q2 EPS of $0.01, compared to ($0.01) in the same quarter last year. Revenue for the quarter was $22.4 million, versus $31.1 million in Q208.

Jinpan International Ltd. (Nasdaq: JST) 18% LOWER; reports Q2 EPS of $1.07, versus the analyst estimate of $0.65 and compared to a gain of $0.74 in the same quarter last year. Revenue for the quarter was $40.9 million, versus the consensus of $44.30 million. Sees FY09 EPS of $2.75-$2.85, versus the consensus of $2.84 and sales of $154-$159 million, which compares to the Street estimate of $180.99 million.

Wuhan General Group (WUHN) 13% LOWER, maker of industrial blowers and turbines in China, reported second quarter earnings of 18 thousand dollars, rounding to breakeven per share. That’s compared to earnings of 5.5 million, or 12 cents per share in the same quarter last year. Revenue plunged 44 and a half percent year over year, and was down 4.1 percent quarter over quarter. The company said that the slowdown in the steel industry reduced demand for its products, but that business looks like it is starting to pick up again. On Friday morning, shares were down 14 and a half percent.

Satcon Technology Corporation (SATC) 12% LOWER, a provider of distributed power solutions to the renewable energy markets, reported a loss of 13 cents per share for the quarter. That’s compared to a loss of 18 cents in the same quarter last year. Revenue fell 31% year over year. CEO Steve Rhoades cited the lack of available financing for large scale solar projects as a reason for the challenging quarter. Shares were trading more than 9 and a half percent lower early Friday.

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