Don't let it get away!
Keep track of the stocks that matter to you.
Help yourself with the Fool's FREE and easy new watchlist service today.
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of wind turbine maker China Ming Yang Wind Power Group (NYSE: MY ) fell as much as 13% in early trading today after the company reported earnings.
So what: Second quarter revenue dropped 33%, to $87.6 million, and total comprehensive loss was up 160%, to $11.3 million. On a per-share basis, the company lost $0.08.
Now what: Management said it won 396 MW of new orders in the quarter versus shipments of just 161 MW, and expects market share in China to grow. I just don't see any positive trends with this company, or any other company in the wind business, and a growing loss isn't a reason to jump into shares today. I wouldn't be a buyer until it can show a consistent profit, which I don't see any time soon.
Interested in more info on China Ming Yang Wind Power? Add it to your watchlist by clicking here.