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Daqo New Energy

Daqo New Energy Corp is a polysilicon manufacturer based in China. The company manufactures and sells high-purity polysilicon to manufacturers who use it to make ingots, cells, and modules for solar power solutions. The polysilicon is packaged to meet crucible stacking, pulling, and solidification needs. All of the company's revenues come from the People's Republic of China.

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5 acciones en el foco este lunes: PDD, DQ, MIRA, HEI y TCOM

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Shares of US-listed Chinese stocks are trading lower after Chinese planning officials reportedly fell short of investor stimulus expectations.

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVDA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>10/11/24</td>
<td>$130.00</td>
<td>$124.5K</td>
<td>80.3K</td>
<td>232.4K</td>
</tr>
<tr>
<td>AMD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/11/24</td>
<td>$175.00</td>
<td>$30.1K</td>
<td>12.0K</td>
<td>44.0K</td>
</tr>
<tr>
<td>AAPL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/11/24</td>
<td>$225.00</td>
<td>$38.3K</td>
<td>16.8K</td>
<td>20.1K</td>
</tr>
<tr>
<td>DQ</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$30.00</td>
<td>$26.4K</td>
<td>600</td>
<td>5.1K</td>
</tr>
<tr>
<td>SMCI</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>10/25/24</td>
<td>$50.00</td>
<td>$29.9K</td>
<td>2.5K</td>
<td>2.9K</td>
</tr>
<tr>
<td>TSM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$190.00</td>
<td>$48.0K</td>
<td>7.3K</td>
<td>2.6K</td>
</tr>
<tr>
<td>MSTR</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$200.00</td>
<td>$26.9K</td>
<td>13.7K</td>
<td>1.7K</td>
</tr>
<tr>
<td>WULF</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$5.00</td>
<td>$105.1K</td>
<td>4.7K</td>
<td>1.2K</td>
</tr>
<tr>
<td>MARA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$30.00</td>
<td>$29.8K</td>
<td>37.9K</td>
<td>994</td>
</tr>
<tr>
<td>INTC</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$25.00</td>
<td>$44.0K</td>
<td>19.2K</td>
<td>305</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• Regarding NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we observe a call option trade with bullish sentiment. It expires in 4 day(s) on October 11, 2024. Parties traded 500 contract(s) at a $130.00 strike. The total cost received by the writing party (or parties) was $124.5K, with a price of $249.0 per contract. There were 80376 open contracts at this strike prior to today, and today 232469 contract(s) were bought and sold. 
• Regarding AMD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), we observe a call option sweep with bearish sentiment. It expires in 4 day(s) on October 11, 2024. Parties traded 101 contract(s) at a $175.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $30.1K, with a price of $299.0 per contract. There were 12003 open contracts at this strike prior to today, and today 44026 contract(s) were bought and sold. 
• For AAPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), we notice a call option trade that happens to be bearish, expiring in 4 day(s) on October 11, 2024. This event was a transfer of 188 contract(s) at a $225.00 strike. The total cost received by the writing party (or parties) was $38.3K, with a price of $204.0 per contract. There were 16855 open contracts at this strike prior to today, and today 20146 contract(s) were bought and sold. 
• For DQ (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DQ#NYSE">DQ</a>), we notice a call option sweep that happens to be bullish, expiring in 102 day(s) on January 17, 2025. This event was a transfer of 80 contract(s) at a $30.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $26.4K, with a price of $330.0 per contract. There were 600 open contracts at this strike prior to today, and today 5149 contract(s) were bought and sold. 
• For SMCI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), we notice a call option trade that happens to be bullish, expiring in 18 day(s) on October 25, 2024. This event was a transfer of 130 contract(s) at a $50.00 strike. The total cost received by the writing party (or parties) was $29.9K, with a price of $230.0 per contract. There were 2591 open contracts at this strike prior to today, and today 2980 contract(s) were bought and sold. 
• For TSM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), we notice a call option sweep that happens to be bearish, expiring in 11 day(s) on October 18, 2024. This event was a transfer of 100 contract(s) at a $190.00 strike. This particular call needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $48.0K, with a price of $481.0 per contract. There were 7369 open contracts at this strike prior to today, and today 2655 contract(s) were bought and sold. 
• For MSTR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), we notice a call option trade that happens to be neutral, expiring in 102 day(s) on January 17, 2025. This event was a transfer of 8 contract(s) at a $200.00 strike. The total cost received by the writing party (or parties) was $26.9K, with a price of $3365.0 per contract. There were 13728 open contracts at this strike prior to today, and today 1717 contract(s) were bought and sold. 
• For WULF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WULF#NASDAQ">WULF</a>), we notice a put option sweep that happens to be bullish, expiring in 11 day(s) on October 18, 2024. This event was a transfer of 1000 contract(s) at a $5.00 strike. This particular put needed to be split into 15 different trades to become filled. The total cost received by the writing party (or parties) was $105.1K, with a price of $105.0 per contract. There were 4799 open contracts at this strike prior to today, and today 1209 contract(s) were bought and sold. 
• For MARA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>), we notice a call option sweep that happens to be bullish, expiring in 102 day(s) on January 17, 2025. This event was a transfer of 360 contract(s) at a $30.00 strike. This particular call needed to be split into 16 different trades to become filled. The total cost received by the writing party (or parties) was $29.8K, with a price of $83.0 per contract. There were 37989 open contracts at this strike prior to today, and today 994 contract(s) were bought and sold. 
• Regarding INTC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), we observe a put option trade with bearish sentiment. It expires in 165 day(s) on March 21, 2025. Parties traded 100 contract(s) at a $25.00 strike. The total cost received by the writing party (or parties) was $44.0K, with a price of $440.0 per contract. There were 19231 open contracts at this strike prior to today, and today 305 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

AAPL

INTC

MARA

MSTR

NVDA

SMCI

WULF

10 Information Technology Stocks With Whale Alerts In Today's Session

Roth MKM analyst Philip Shen maintains Daqo New Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DQ#NYSE">DQ</a>) with a Neutral and lowers the price target from $23 to $15.

Price Target

Analyst Ratings

Roth MKM Maintains Neutral on Daqo New Energy, Lowers Price Target to $15

HSBC analyst Daniel Yang upgrades Daqo New Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DQ#NYSE">DQ</a>) from Reduce to Hold and announces $15 price target.

Upgrades

HSBC Upgrades Daqo New Energy to Hold, Announces $15 Price Target

The CNN Money Fear and Greed index showed a slight decline in the overall market sentiment, but the index remained in the &#8220;Neutral&#8221; zone on Monday.
U.S. stocks settled mixed on Monday, while the Dow Jones index settled at a record high level during the session.
The Nasdaq Composite tumbled over 150 points, with Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shares down around 2.3% ahead of quarterly earnings due Wednesday. Other chip stocks, including, Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) and Micron Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) also settled lower during the session.
Daqo New Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DQ#NYSE">DQ</a>) reported worse-than-expected second-quarter financial results on Monday. Shares of PDD Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) dipped 28.5% after the company announced downbeat quarterly sales.
On the economic data front, U.S. new orders for manufactured durable goods gained 9.9% from the prior month in July, compared to a revised 6.9% plunge in the prior period.
Most sectors on the S&amp;P 500 closed on a negative note, with consumer discretionary, information technology, and industrials stocks recording the biggest losses on Monday. However, energy and consumer staples stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed higher by around 65 points to 41,240.52 on Monday. The S&amp;P 500 fell 0.32% to 5,616.84, while the Nasdaq Composite dipped 0.85% to close at 17,725.77 during Monday's session.
Investors are awaiting earnings results from ScanSource, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCSC#NASDAQ">SCSC</a>), PVH Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PVH#NYSE">PVH</a>), and Nordstrom, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 54, the index remained in the &#8220;Neutral&#8221; zone on Monday, versus a prior reading of 54.8.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
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Dow Closes At Record High While Nasdaq Tumbles As Nvidia Falls Ahead Of Earnings: Fear & Greed Index Remains In 'Neutral' Zone

Jefferies analyst Johnson Wan maintains Daqo New Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DQ#NYSE">DQ</a>) with a Buy and lowers the price target from $38.4 to $34.05.

Jefferies Maintains Buy on Daqo New Energy, Lowers Price Target to $34.05

U.S. stocks traded mixed toward the end of trading, with the Dow Jones index gaining around 0.1% on Monday.
The Dow traded up 0.12% to 41,224.50 while the NASDAQ fell 0.82% to 17,731.01. The S&amp;P 500 also fell, dropping, 0.32% to 5,616.51.
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Leading and Lagging Sectors Energy shares climbed by 0.8% on Monday.
In trading on Monday, information technology shares fell by 0.9%.
Top Headline
Daqo New Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DQ#NYSE">DQ</a>) reported worse-than-expected second-quarter financial results on Monday.
Revenue of $219.9 million, down from $636.7 million in the year-ago quarter, missed the consensus of $337.1 million. Adjusted loss per ADS of $1.50 missed the consensus loss of $0.56.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Medirom Healthcare Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRM#NASDAQ">MRM</a>) shares shot up 152% to $6.24 after the company announced that its subsidiary MEDIROM MOTHER Labs formed a capital and business alliance with NFES Technologies.</li>
<li>Shares of Prestige Wealth Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PWM#NASDAQ">PWM</a>) got a boost, surging 77% to $1.3201 after the company announced that it entered into a definitive acquisition agreement to purchase all shares of SPW Global.</li>
<li>MoneyLion Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ML#NYSE">ML</a>) shares were also up, gaining 8% to $46.66 after announcing a $20 million share repurchase program.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Alarum Technologies Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAR#NASDAQ">ALAR</a>) shares dropped 30% to $15.03 after the company reported mixed second-quarter financial results.</li>
<li>Shares of PDD Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) were down 29% to $99.79 after the company announced downbeat quarterly sales.</li>
<li>Napco Security Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NSSC#NASDAQ">NSSC</a>) was down, falling 15% to $47.07 following fourth-quarter results.</li>
</ul>
Commodities In commodity news, oil traded up 3.5% to $77.41 while gold traded up 0.2% at $2,550.70.
Silver traded up 0.1% to $29.825 on Monday, while copper rose 0.1% to $4.2025.
Euro zone
European shares were mixed today. The eurozone's STOXX 600 slipped 0.02%, Germany's DAX fell 0.09% and France's CAC 40 gained 0.18%. Spain's IBEX 35 Index fell 0.11%, while London's FTSE 100 rose 0.48%.
The Ifo Business Climate indicator for Germany fell to 86.6 in August, recording the weakest level since February. Producer prices in Spain declined by 1.4% year-over-year in July versus a revised 3.2% decline in the earlier month.
Asia Pacific Markets
Asian markets closed mostly higher on Monday, with Japan's Nikkei 225 falling 0.66%, Hong Kong's Hang Seng Index gaining 1.06%, China's Shanghai Composite Index rising 0.04% and India's BSE Sensex rising 0.75%.
Economics
U.S. new orders for manufactured durable goods gained by 9.9% from the prior month in July, compared to a revised 6.9% plunge in the prior period.
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Crude Oil Rises Sharply; Daqo New Energy Reports Weak Q2 Results

Daqo New Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DQ#NYSE">DQ</a>) shares are trading lower after the company missed&nbsp;second-quarter<a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/n40548327/daqo-new-energy-announces-unaudited-second-quarter-2024-results" rel="noreferrer noopener"> EPS and sales estimates</a>.
Revenue of $219.9 million, down from $636.7 million in the year-ago quarter, missed the consensus of $337.1 million. Adjusted loss per ADS of $1.50 missed <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">the consensus loss of $0.56</a>.
Polysilicon&#8217;s&nbsp;average selling price (ASP) was&nbsp;$5.12/kg in&nbsp;the second quarter, vs.&nbsp;$7.66/kg in the first quarter of 2024. The company&#8217;s average production cost declined by&nbsp;3%&nbsp;Q/Q to&nbsp;$6.19/kg in the quarter.
Polysilicon&nbsp;production volume stood at 64,961 MT, which was above its expectations and represented an increase of 2,683 MT&nbsp;versus the previous&nbsp;quarter.&nbsp;
In the quarter, Daqo commenced production at its 100,000 MT Phase 5B polysilicon project in Inner Mongolia, contributing about 12% of the total production volume.
The company reported a gross loss of&nbsp;$159.2 million, compared to a gross profit of&nbsp;$258.9 million&nbsp;in the second quarter of 2023. The gross margin was negative 72.4% vs. positive 40.7% in the prior-year quarter.&nbsp;
In the quarter, EBITDA (non-GAAP) stood at negative $144.9 million, down from a postive $76.9 million in the first quarter of 2024, with margin declining to -65.9% in the second quarter vs. 18.5% in the last quarter. As of June-end, the company held $997.5 million in cash, cash equivalents, and restricted cash.
Xiang Xu, CEO of Daqo New Energy, said, &#8220;The solar industry experienced significant challenges during the second quarter, as market prices fell across the solar value chain to below production costs for nearly the entire industry.&#8221;
&#8220;As end-of-quarter polysilicon ASP fell below our production cost, we were required in accordance with accounting rules to record a non-cash inventory impairment expense of&nbsp;$108 million&nbsp;because our inventory market value fell below book value. This had a significant negative impact on our cost of revenue, gross loss, operating loss and net loss.&#8221;
Outlook: Daqo expects Polysilicon production volume of around 43,000 MT – <a href="https://www.benzinga.com/calendars/guidance" target="_blank" rel="noreferrer noopener">46,000 MT in the third quarter</a>. The company now forecasts the Polysilicon production volume of 210,000 MT to 220,000 MT (vs. 280,000 MT – 300,000 MT earlier).
&#8220;This year will be challenging for China&#8217;s solar PV industry, as solar manufacturers along the value chain experience weak margins driven by oversupply, excessive inventory, and lower prices,&#8221; Xiang Xu added. 
&#8220;In light of the current market conditions and pricing, we have adjusted our target production utilization rate for the third quarter and our production plan for the full year.&#8221;
In July, the company approved a $100 million share repurchase program<a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39880921/why-polysilicon-company-daqo-new-energys-shares-are-trading-higher-premarket-today" rel="noreferrer noopener">,&nbsp;effective until June 30, 2025</a>.
Investors can gain exposure to the stock via&nbsp;ProShares S&amp;P Kensho Cleantech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTEX#NYSE">CTEX</a>).
Price Action: DQ shares are down 7.24% at $14.10 premarket at the last check Monday.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Guidance

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CTEX

Polysilicon Company Daqo Misses Q2 Estimates, Solar Industry Challenges Weigh On Earnings

DAQO New Energy shares are trading lower after the company reported worse-than-expected Q2 financial results.

U.S. stock futures were mixed this morning, with the Dow futures gaining around 0.1% on Monday.
Shares of PDD Holdings Inc &#8211; ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) fell sharply in today's pre-market trading after the company reported <a href="https://www.benzinga.com/news/earnings/24/08/40548945/temu-parent-pdd-posts-86-q2-topline-growth-stock-drops-after-ceo-flags-upcoming-challenges">second-quarter revenue miss.</a>
PDD reported fiscal second-quarter 2024 revenue growth of 86% year-on-year to $13.36 billion (97.06 billion Chinese yuan), missing the analyst consensus estimate of $14.02 billion. The Chinese online retailer's adjusted earnings per ADS of $3.20 (23.24 Chinese yuan) increased from 10.47 Chinese yuan Y/Y, beating the analyst consensus estimate of $2.73.
PDD shares dipped 15.2% to $118.65 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>SM Energy Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SM#NYSE">SM</a>) fell 7.5% to $42.42 in pre-market trading after gaining over 3% on Friday.</li>
<li>Westlake Chemical Partners LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WLKP#NYSE">WLKP</a>) shares dipped 5.4% to $21.50 in pre-market trading.</li>
<li>AngioDynamics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANGO#NASDAQ">ANGO</a>) shares fell 5.1% to $7.29 in pre-market trading.</li>
<li>Daqo New Energy Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DQ#NYSE">DQ</a>) shares declined 5.1% to $14.43 in pre-market trading after reporting downbeat quarterly results.</li>
<li>Yiren Digital Ltd &#8211; ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YRD#NYSE">YRD</a>) shares fell 4.6% to $4.63 in pre-market trading.</li>
<li>elf Beauty Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>) shares declined 3.8% to $164.50 in pre-market trading.</li>
<li>Guardant Health Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GH#NASDAQ">GH</a>) shares fell 3% to $28.20 in pre-market trading after gaining 4% on Friday.</li>
</ul>
Now Read This: 
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<li><a href="https://www.benzinga.com/news/earnings/24/08/40547904/pvh-likely-to-report-higher-q2-earnings-these-most-accurate-analysts-revise-forecasts-ahead-of-earn">PVH Likely To Report Higher Q2 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call</a></li>
</ul>

ANGO

WLKP

PDD Holdings, Daqo New Energy And Other Big Stocks Moving Lower In Monday's Pre-Market Session

Daqo New Energy Expects To Produce Approximately 43,000MT-46,000MT Of Polysilicon in Q3 FY24 And Approximately 210,000MT-220,000MT Of Polysilicon In 2024

Daqo New Energy Q2 FY24 Polysilicon Average Selling Prices $5.12/kg Vs. $7.66/kg In Q1 FY24

Daqo New Energy Q2 Polysilicon Production Volume 64,961MT Vs. 62,278MT in Q1 FY24; And Polysilicon Sales Volume 43,082MT Vs. 53,987MT In Q1 FY24

Daqo New Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DQ#NYSE">DQ</a>) reported quarterly losses of $(1.50) per share which missed the analyst consensus estimate of $(0.56) by 167.86 percent. The company reported quarterly sales of $219.900 million which missed the analyst consensus estimate of $337.128 million by 34.77 percent. This is a 65.46 percent decrease over sales of $636.724 million the same period last year.

Earnings Misses

Daqo New Energy Q2 2024 Adj. EPS $(1.50) Misses $(0.56) Estimate, Sales $219.900M Miss $337.128M Estimate

The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, while the index remained in the &#8220;Neutral&#8221; zone on Friday.
U.S. stocks settled higher on Friday, following comments from Fed Chair Jerome Powell at the Jackson Hole Economic Symposium.
Powell <a href="https://www.benzinga.com/etfs/sector-etfs/24/08/40529209/jerome-powell-time-has-come-for-interest-rate-cuts-cooling-in-labor-market-unmistakable">signaled a forthcoming shift in interest rates</a>, stating, "The time has come for policy to adjust." His remarks suggest the Fed is on the cusp of easing interest rates, yet Powell emphasized the importance of data-driven decisions, carefully avoiding any commitment to specific timing or the magnitude of those cuts.
Tech stocks moved higher with investors expecting a lower interest-rate environment to benefit the group. Shares of Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) jumped over 4.5% each on Friday.
Workday, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>) shares jumped 12.5% on Friday as the company upbeat earnings for the second quarter. Ross Stores, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROST#NASDAQ">ROST</a>) posted stronger-than-expected earnings for its second quarter, after the closing bell on Thursday.
On the economic data front, the total number of active U.S. oil rigs came in unchanged at 483 rigs this week, Baker Hughes Inc. reported
All sectors on the S&amp;P 500 closed on a positive note, with consumer discretionary, information technology, and real estate stocks recording the biggest gains on Friday.
The Dow Jones closed higher by around 462 points to 41,175.08 on Friday. The S&amp;P 500 rose 1.15% to 5,634.61, while the Nasdaq Composite climbed 1.47% to close at 17,877.79 during Friday's session.
Investors are awaiting earnings results from HEICO Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HEI#NYSE">HEI</a>), Daqo New Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DQ#NYSE">DQ</a>), and Trip.com Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCOM#NASDAQ">TCOM</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 52.9, the index remained in the &#8220;Neutral&#8221; zone on Friday, versus a prior reading of 48.4.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40526660/jim-cramer-praises-l3harris-technologies-says-intel-is-getting-whacked-by-amd-i-much-pre">Jim Cramer Praises L3Harris Technologies, Says Intel Is &#8216;Getting Whacked&#8217; By AMD: &#8216;I Much Prefer&#8230;&#8217;</a></li>
</ul>

ROST

TSLA

WDAY

S&P 500, Dow Jump After Jerome Powell Signals Rate Cuts: Investor Sentiment Improves, But Fear & Greed Index Remains In 'Neutral' Zone

With U.S. stock futures trading slightly lower this morning on Monday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects PDD Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) to report quarterly earnings at $2.73 per share on revenue of $14.02 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. PDD shares gained 0.5% to $140.59 in after-hours trading.</li>
<li>Analysts are expecting Daqo New Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DQ#NYSE">DQ</a>) to post a quarterly loss at 56 cents per share on revenue of $337.12 million. The company will release earnings before the markets open. Daqo New Energy shares fell 1.3% to $15.01 in after-hours trading.</li>
<li>MIRA Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MIRA#NASDAQ">MIRA</a>) announced it achieved 100% reversal of neuropathic pain with oral Ketamin-2 in a rat study. MIRA Pharmaceuticals shares climbed 47% to $2.72 in the after-hours trading session.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>After the markets close, HEICO Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HEI#NYSE">HEI</a>) is projected to report quarterly earnings at 92 cents per share on revenue of $995.67 million. Heico shares fell 0.7% to $245.03 in the after-hours trading session.</li>
<li>Analysts expect Trip.com Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCOM#NASDAQ">TCOM</a>) to post quarterly earnings at 74 cents per share on revenue of $1.79 billion. Trip.com shares gained 1% to $42.59 in the after-hours trading session.</li>
</ul>
Check This Out:
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40526660/jim-cramer-praises-l3harris-technologies-says-intel-is-getting-whacked-by-amd-i-much-pre">Jim Cramer Praises L3Harris Technologies, Says Intel Is &#8216;Getting Whacked&#8217; By AMD: &#8216;I Much Prefer&#8230;&#8217;</a></li>
</ul>
Image generated using artificial intelligence tools

Heico, PDD Holdings And 3 Stocks To Watch Heading Into Monday

Daqo New Energy Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DQ#NYSE">DQ</a>) shares are trading higher after the company approved a $100 million share repurchase program, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/n39878834/daqo-new-energy-announces-100-million-share-repurchase-program" rel="noreferrer noopener">effective until June 30, 2025</a>.
Daqo New Energy&#8217;s board has authorized the repurchase of up to $100 million of its shares or ADSs through various legal means, in compliance with U.S. securities laws.
The repurchase program will be funded mainly from the company&#8217;s available and existing cash balance.
Xiang Xu, Chairman and Chief Executive Officer of the Company, said, &#8220;The share repurchase program underscores our confidence in the Company&#8217;s&nbsp;business development&nbsp;as we weather through the&nbsp;industry downcycle. We remain &nbsp;fully committed to delivering sustainable growth while creating value for our shareholders.&#8221;
As of March-end, the company <a href="https://www.benzinga.com/news/earnings/24/04/38498002/why-polysilicon-company-daqo-new-energys-shares-are-diving-monday" target="_blank" rel="noreferrer noopener">had $2.7 billion in cash and equivalents</a>. Investors can gain exposure to the stock via Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>).
<h2 class="wp-block-heading">Is DQ A Good Stock To Buy</h2>
An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages &#8211; like <a href="https://www.benzinga.com/quote/DQ">Daqo New Energy</a>&#8216;s page for example &#8211; there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.
These are known as capital allocation programs. Daqo New Energy does not pay a dividend, but obviously has a few ways it can return value to shareholders. Feel free to search Benzinga's <a href="https://www.benzinga.com/calendars/dividends">dividend calendar</a> for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.
For example, if you're looking to earn an annualized return of 6.11%, you'll need to buy a share of DYNAMIC ACTIVE ENHANCED YIELD COVER UNITS by the Jul. 26, 2024. Once done, you can expect to receive a nominal payout of $0.12 on Jul. 31, 2024.
Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on <a href="https://www.benzinga.com/quote/DQ">Daqo New Energy</a> will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.
Price Action: DQ shares are up 5.85% at $17.01 premarket at the last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Shutterstock/ bangoland

Buybacks

Why Polysilicon Company Daqo New Energy's Shares Are Trading Higher Premarket Today

Daqo New Energy shares are trading higher after the company announced a $100 million share repurchase program.

Daqo New Energy Unveils $100M Share Buyback Program, Effective Through June 2025

We have recently received the first instance court's verdict. The court affirmed termination of the business cooperation agreement on December 31, 2023, and ordered Xinjiang Daqo to compensate the plaintiffs for their losses arising from rents and employee salaries in the amount of RMB3.06 million, plus attorney fees of RMB100,000. On the other hand, the court rejected the plaintiffs' claims for compensation of their consequential losses. As we are still within the appeal period, the litigation's impact on Xinjiang Daqo will be contingent upon the final verdict.

Legal

Daqo New Energy's Subsidiary Xinjiang Daqo Provides Latest Update On Its Litigation Event; The Court Affirmed Termination Of The Business Cooperation Agreement On December 31, 2023, And Ordered Xinjiang Daqo To Compensate The Plaintiffs For Their Losses Arising From Rents And Employee Salaries In The Amount Of RMB3.06 Million, Plus Attorney Fees Of RMB100,000

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Daqo New Energy (NYSE:<a href="https://investorplace.com/stock-quotes/dq-stock-quote/">DQ</a>) just reported results for the second quarter of 2024.<ul><li>Daqo New Energy reported earnings per share of -$1.50. This was below the analyst estimate for EPS of -56 cents.</li><li>The company reported revenue of $219.91 million.</li><li>This was 34.77% worse than the analyst estimate for revenue of $337.13 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div>	The post <a href="https://investorplace.com/earning-results/2024/08/dq-stock-earnings-daqo-new-energy-for-q2-of-2024/">DQ Stock Earnings: Daqo New Energy Misses EPS, Misses Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

DQ Stock Earnings: Daqo New Energy Misses EPS, Misses Revenue for Q2 2024

Daqo New Energy Corp. (DQ) Q2 2024 Earnings Call Transcript

Daqo New Energy: Q2 Shows Further Price Drops, I'm Staying Put

Roth MKM analyst Philip Shen maintained a Hold rating on Daqo New Energy (DQ – Research Report) today and set a price target of $15.00. The company...

Daqo New Energy (DQ) Gets a Hold from Roth MKM

Warning: DQ is at high risk of performing badly

Solar stocks trading higher following last night's presidential debate

Solar, clean energy stocks rally ahead of Fed decision on interest rates

Daqo New Energy: The Bottom May Be Behind Us - Promising Market Trends Ahead

The Great Generational Leadership Rotation

ACES

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BYDDY

CNRG

CSIQ

ENPH

ERTH

FCEL

FLNC

FSLR

GPRE

ICLN

MAXN

NOVA

PLUG

QCLN

SEDG

SHLS

SMOG

STEM

Press Releases

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Daqo New Energy Corp. - DQ

Dividends

Daqo New Energy's Subsidiary Xinjiang Daqo Proposes 2023 Cash Dividend for Approval at Its Annual Shareholders' Meeting

Daqo New Energy to Announce Unaudited Results for the First Quarter of 2024 on April, 29, 2024

Daqo New Energy Announces Unaudited First Quarter 2024 Results

Daqo New Energy Files Annual Report on Form 20-F for Fiscal Year 2023

Daqo New Energy Issues Its 2023 Environmental, Social and Governance (ESG) Report

Daqo New Energy's Subsidiary Xinjiang Daqo Provides Latest Update on its Litigation Event

Daqo New Energy Announces $100 Million Share Repurchase Program

Daqo New Energy to Announce Unaudited Results for the Second Quarter of 2024 on August 26, 2024

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