First Solar’s Massive Surge Halts Trading

FSLR heads 45% higher and counting on 2013 guidance

   

U.S. solar panel maker First Solar (NASDAQ:FSLR) rocketed up roughly 45% on Tuesday following strong guidance for the next two years — and the surge was so dramatic that it caused the Nasdaq to interrupt trading.

The company said it expects 2013 revenues in a range of $3.8 billion to $4.0 billion, and diluted earnings between $4 and $4.50 per share — that compares to analyst expectations for $3.17 billion in revenues and EPS of $3.60.

2014 revenues are expected to come in between $3.5 billion and $4 billion, with diluted EPS in a range of $4 to $6.

The rest of the sector jumped on the news, too. Solar-focused companies including Jinkosolar Holding (NYSE:JKS, +20%), Yingli Green (NYSE:YGE, +20) and Sunpower (NASDAQ:SPWR, +18.5%) were trading sharply higher as of this writing, as was the Guggenheim Solar ETF (NYSE:TAN, +15%).


Article printed from InvestorPlace Media, http://investorplace.com/2013/04/first-solars-massive-surge-halts-trading/.

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