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'Mad Money' Spotlight: Cramer kicks Zoltek
"New wind-farm activity has slowed as developers, wind-turbine equipment manufacturers and their financing sources are waiting to see what government benefits can be expected," CEO and Chairman Zsolt Rumy said in a statement. "Although project cancellations are very uncommon, a number of them are on hold until the economic uncertainties are cleared up."
July 7, 2009
by Jeanine Poggi
in The Street
If you are looking to beef up your retirement account, steer clear of Zoltek, Jim Cramer advised during his "Mad Money" segment on Monday.
Zoltek makes carbon fibers for aircraft brakes and industrial applications including wind energy and deep-sea drilling. While there is potential for the company to resume growth, right now there is little stability in the sector.
During the first quarter ended March 31, profit plunged 89% to $473,000, or 1 cent a share, compared with $4.3 million, or 13 cents, in the year-ago period. This drastically missed analysts' forecast of earnings of 9 cents. Sales also tumbled... [continue via Web link]
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