Original post:
In early pre-market trading the stock is up a weak $1.26 at $136.74. For the stock to continue the up move we'll have to see more strength today or we're looking at an opportunity on the downside.
Combined with the muted response to yesterday's analyst get-together is the debacle in Denmark which could have a serious psychological effect on a subset of investors in the alt-energy space.
First up, MarketWatch:
Lazard Capital Markets on Thursday raised its 2010 earnings estimates for First Solar Inc. (FSLR 137.70, +0.96, +0.70%) to $6.65 a share from $6.50 a share, following the company's meeting with Wall Street analysts. Lazard analyst Sanjay Shrestha left his 2011 estimates unchanged at $9.20 for First Solar, a maker of solar energy panels....MORE
From PV-Tech:
In a significant move by EDF Energies Nouvelles to boost its solar energy portfolio, the renewable energy producer has secured new project finance that is underpinned by a €500 million loan from the European Investment Bank (EIB). EIB is financing 50% of planned projects in both France and Italy through 2012, while commercial banks will support each project with the other 50% of project finance required. EDF is exclusively using First Solar’s CdTe thin film modules for the €1 billion of projects over the next 2-years.
Two pilot projects, the Gabardan ground-based solar farm in France (three 12 MWp tranches, Landes) and the Loreo ground-based solar farm in Italy (12.5 MWp, Veneto) will be financed in early 2010 under this agreement....
...EDF and First Solar are also planning to build a dedicated thin film plant in France, which will be operated by First Solar exclusively for EDF and its solar projects.
However, First Solar noted in its latest analyst meeting that it has a significant pipeline of projects in Europe of the next few years and will be ramping new production lines in Malaysia to meet demand....MORE
