First Solar’s Massive Surge Halts Trading

by Kyle Woodley | April 9, 2013 3:03 pm

First Solar’s Massive Surge Halts Trading

U.S. solar panel maker First Solar (NASDAQ:FSLR[1]) 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[2], +20%), Yingli Green (NYSE:YGE[3], +20) and Sunpower (NASDAQ:SPWR[4], +18.5%) were trading sharply higher as of this writing, as was the Guggenheim Solar ETF (NYSE:TAN[5], +15%).

Endnotes:
  1. FSLR: http://studio-5.financialcontent.com/investplace/quote?Symbol=FSLR
  2. JKS: http://studio-5.financialcontent.com/investplace/quote?Symbol=JKS
  3. YGE: http://studio-5.financialcontent.com/investplace/quote?Symbol=YGE
  4. SPWR: http://studio-5.financialcontent.com/investplace/quote?Symbol=SPWR
  5. TAN: http://studio-5.financialcontent.com/investplace/quote?Symbol=TAN

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