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Friday, May 22

Yingly Green Energy loses $21 million in quarter(8:35 am ET)
NEW YORK (MarketWatch) -- Yingly Green Energy Holding Co. (YGE: news, chart, profile) on Friday said it lost $21 million, or 16 cents a share in its first quarter. Adjusted loss for the period totaled 9 cents a share. Revenue fell 37% from the year-ago period to $146.3 million. Negative factors in the quarter included a weaker euro, substantially lower shipment volume and lower average selling price as a result of difficult macroeconomic conditions globally, the company said. The photovoltaic module maker also cited tighter credit for system project financing, worse-than-normal winter weather conditions in Germany and changes in the feed-in tariff policy in Spain. Analysts expected net income of 2 cents a share on revenue of $200.9 million, according to a survey by FactSet Research.

Gasoline prices rise ahead of Memorial Day weekend(7:11 am ET)
NEW YORK (MarketWatch) -- Average retail U.S. gasoline prices rose 3 cents to $2.39 a gallon on Friday, ahead of the 2009 Memorial Day weekend, according to the AAA Daily Fuel Gauge Report. A day ago, gasoline sold for $2.36 a gallon. A week ago, gas cost $2.29 a gallon. A month ago, it sold for $2.06 a gallon. Gas prices have been moving up with oil futures, which broke through the $60-a-barrel mark this week and held the level.

China Resources first-quarter net income falls 35%(5:04 am ET)
HONG KONG (MarketWatch) -- China Resources Enterprise Ltd. (HK:291: news, chart, profile) said Friday its first-quarter net income totaled HK$417 million ($53.5 million), or 17 Hong Kong cents per share, compared to HK$639 million, or 27 Hong Kong cents a share, a year earlier. Revenue rose 8.2% to HK$17.17 billion from HK$15.87 billion.