E•BOOM Biofuel Index Rises Above Losing Week for Stocks
The world’s major stock markets and clean energy indices were mostly down this week as Americans headed into the Memorial Day long weekend. The only exception was the EnergyBoom Biofuel Subindex (E•B Biofuel) which increased 1% for the week.
The best performing company on the E•BOOM Biofuel was U.S. enzyme maker Codexis, Inc. NASDAQ: CDXS) (market cap $388 million) which increased 8% this week. Bloomberg quoted the company’s CEO calling Codexis a potential takeover target and referring to DuPont Co.’s recent $6.4 billion acquisition of Danish food-enzyme maker Danisco A/S.
Other strong performers on the EnergyBoom Clean 100 Index (E•B Clean 100) this week were:
- Canadian alternative fuel company Westport Innovations Inc. (NASDAQ: WPRT) (market cap $1.2 billion) +8%. Westport said May 17 that Caterpillar, Inc. (NYSE: CAT) was evaluating the company’s direct injection natural gas fuel technologies for possible use on Caterpillar’s large engines.
- EV vehicle and powertrain manufacturer Tesla Motors Inc (NASDAQ: TSLA) (market cap $2.83 billion) +5.5%. Tesla shares closed the week at $29.55, more than $3 higher than the price quoted by the company for its $217-million share offering announced Wednesday.
- Wind turbine structural company CleanTech Innovations, Inc. (OTC: CTEK.PK) (market cap $51.2 million) +17.14%. The company recently reported Q1 2011 net income of $0.5 million on revenues of $4 million, compared with net income of $0.1 million on revenues of $0.23 million in Q1 2010.
EnergyBoom indices performance over the past five days:
- EnergyBoom Clean 100 Index (E•B Clean 100) -1.14%
- EnergyBoom Wind Subindex (E•B Wind) -4.17%
- EnergyBoom Solar Subindex (E•B Solar) -2.89%
- EnergyBoom Biofuel Subindex (E•B Biofuel) +1.00%
- EnergyBoom Efficiency Subindex (E•B Efficiency) -0.69%
Broad market performance over the past five days:
- S&P 500 Index -0.16%
- Dow Jones Industrial Average -0.56%
- NASDAQ Composite -2.2%
- FTSE 100 -0.16%
- DAX 30 Index +0.03%
- CAC 40 Index -1.0070%
- Shanghai Composite -5.21%
- Hang Seng Index -0.35%
Green exchanged-traded funds (ETFs) performance over the past five days:
- Market Vectors Global Alternative Energy ETF (GEX) -1.43%
- PowerShares Global Clean Energy Portfolio (PBD) -1.7%
- First Trust NASDAQ Clean Edge Green Energy Index (QCLN) -1.74%
- Guggenheim Solar ETF (TAN) -5.22%
- First Trust Global Wind Energy ETF (FAN) -2.48%
- NASDAQ OMX Clean Edge Global Wind (QWND) -1.92%
- Guggenheim S&P Global Water (CGW) +0.50%
Photo credit: Westport Innovations
DISCLOSURE: The writer has no positions in, or professional connections with, these companies.
The economy’s transition to cleaner and more secure sources of energy is inevitable, but its speed will depend on technology, policy and capital. EBOOM CAPITAL focuses on companies whose practical and commercial alteratives to fossil fuels and energy waste are generating - or have good prospects to generate - revenues and profits.
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