Thursday, November 1, 2012

First Solar Beats Low Expectations, Stock Pops, Drops AH (FSLR)

The stock got over $26, up 6% after-hours, then reversed, currently $24.47 -0.28 (-1.13%)
From 24/7 Wall Street:
First Solar, Inc. (NASDAQ: FSLR) is out with its earnings report for its third quarter. The report is pretty poor, but not so dismal that investors are hitting the panic button again. Net sales fell by $118 million down to $839 million in the quarter “primarily due to project-specific decreases including Silver State North, which was completed in the second quarter, and reduced construction activity at Agua Caliente.” Thomson Reuters was calling for $966.5 million in revenues. First Solar went on to say that the decrease was partially offset by initial revenue recognition for the 550-megawatt Topaz Solar Farms project....MORE