Varied Solar Stock Prices

On November 10, 2007 in Uncategorized

money.cnn.com put an article up today titled: “Nasdaq Sinks 2.5%; Tech, Solar Stocks Get Hit”

Here are some excerpts:

“PC makers, Internet and solar stocks were among the day’s biggest losers.”

“JA Solar Holdings JASO sank 15.05, or 22%, to 54.51 on five times usual turnover. The stock’s weekly chart shows a      high-volume reversal.

     The Chinese solar-module maker on Thursday had topped third-quarter sales and profit views. But JA Solar fell            Friday — with other solar companies — amid analyst concerns over Q4 profit margins.

     SunPower SPWR fell 13.23 to 128.70, and First Solar (NASDAQ:FSLR) FSLR lost 17.58 to 206.85.”

Interestingly enough, though, businessweek.com has an article from The Associated Press (November 8, 2007, 7:41PM ET) titled “First Solar shares surge on 3Q report.”

This article says:

“First Solar Inc. shares surged Thursday after the company reported a significant increase in third-quarter profit, raised its sales outlook for 2007 and provided 2008 revenue guidance above Wall Street expectations.

First Solar shares rose $57.31, or 34.3 percent, to $224.43 Thursday. The shares hit an all-time high of $230 earlier in the session.

CIBC World Markets Corp. analyst Adam Hinckley lifted his rating on the shares to “Sector Outperformer” from “Sector Performer.”

First Solar’s “impressive third-quarter results proved that management has many levers to pull to positively surprise the Street,” Hinckley wrote.

During a conference call, First Solar lifted its 2007 revenue forecast range to $480 million to $485 million from an earlier outlook of $400 million to $415 million. It also provided a 2008 revenue forecast of $760 million to $800 million, which Banc of America analyst Eric Brown called “modest.” Brown rates First Solar shares at “Buy.”

Analysts expected 2007 earnings of $412.5 million and 2008 earnings of $701.1 million, on average, according to a Thomson Financial poll.

“First Solar is seeking to open new markets that represent attractive opportunities to trade off lower prices for higher volumes, greater demand visibility, and reduce subsidy dependence,” Chief Executive Mike Ahearn said in a conference call Wednesday.

He added that the company is developing plans to enter the U.S. utility market.”

You win some, you lose some. Hopefully any DIY investors out there didn’t take too hard of a hit on the solar stocks.

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