Correct me if I'm wrong, I think First Solar was the biggest loser in the S&P 500 index.
From Tech Trader Daily:
Solar shares are getting hammered today as the sector continues to factor in the impact on financial results of weakness in the Euro. Wells Fargo analyst Sam Dubinksy noted in a research report this morning that most solar vendors generate the majority of sales in Euros, with costs denominated in dollars or renminbi. A weaker Euro, he notes, results in weaker pricing and margins for the solar manufacturers.
Barclays Capital analyst Vishal Shah writes today that the high cost burden of solar subsidy costs remains “too large to ignore” for many European nations; he sees risks to the existing solar subsidy structures in Italy, Spain the Czech Republic and other countries. Shah also sees risks of a slowdown in 2011 demand if the Euro/dollar exchange rate drops to 1.20 and if Chinese companies can’t lower prices in Euro terms....MORE