First Solar (FSLR) blew away lofty estimates after the bell today and the stock surged nearly 10% after hours. ClusterStock has a great live analysis of the earnings.
EPS came in at .85 vs the estimate of .58 while revenue was equally impressive at 267 million vs estimates that called for 217 million. Gross margins also surged to more than 54%.
I fully anticipate a breakout move in the stock tomorrow, potentially closing in on … Read the rest
First Solar (FSLR), the thin film module maker came out with news this morning that it’s building a 10MW solar plant in Nevada for Sempra Energy with construction already under way and expected to be completed by the end of the year. Sempra will own and operate it upon completion.
As the rest of the solar plays get hit today, FSLR is trading up nearly 3% (the only solar stock up today) and continues to … Read the rest
Southern California Edison selected First Solar (FSLR) to engineer and supply the PV power plant system for a 2 MW project to be installed atop a commercial building. SCE plans to do 250 installations atop commercial buildings over the next 5 years which is the largest rooftop solar program ever proposed by a US utility.
In addition, the California Public Utilities Commission approved the project terms of a 20 year power purchase agreement between FSLR … Read the rest
According to StreetInsider.com, Caris & Co have initiated coverage of a few solar names:
* Initiated coverage of First Solar (FSLR) with a buy and $350 price target
* Initiated coverage of MEMC Electronic (WFR) with Above Avg and $100 target
* Initiated coverage of SunPower (SPWR) with an Above Average and price target of $80
* Initiated coverage of Evergreen Solar (ESLR) with Above Average and price target of $11… Read the rest