Solar Stocks Flare — Tuesday’s IP Market Recap

by Marc Bastow | April 9, 2013 5:07 pm

IPMarketRecap Solar Stocks Flare    Tuesday's IP Market Recap[1]Investors took a solid report[2] from earnings-season opener Alcoa (NYSE:AA[3]) as a sign of good things to come, and corporate news helped push stocks higher Tuesday and get the Dow Jones into new record territory once again.

The Dow — powered by gains in tech components Microsoft (NASDAQ:MSFT[4], +3.6%) and Intel (NASDAQ:INTC[5], +3.1%) — rose 0.41% to close at a record 14673.46. The Nasdaq was also aided by the tech company gains, rising 0.48% to end at 3237.86, while the S&P 500 rose 0.35% to end at 1568.61.

The biggest move of the day came from the solar sector, where panel maker First Solar (NASDAQ:FSLR[6]) roared ahead after announcing strong forward guidance[7] numbers for the next two years, enough to cause a halt in FSLR trading on the Nasdaq. First Solar settled in with 45% gains.

The rest of the solar sector — including Yingli Green (NYSE:YGE[8], +21%), SunPower (NASDAQ:SPWR[9], +17%), and Jinksolar (NYSE:JKS[10], +16%) — spiked in unison, pushing the Guggenheim Solar ETF (NYSE:TAN[11]) to a whopping 14% gain.

Struggling retailer JCPenney (NYSE:JCP[12]) plunged 13% following the company’s decision to end the Ron Johnson era. The hand-picked CEO was ousted by the board[13] after dismal financial results and a tanking stock price. Investors apparently weren’t thrilled with Johnson’s replacement, former CEO Mike Ullman, either.

Finally, Herbalife (NYSE:HLF[14]) saw its shares fall over 3% after HLF’s auditors, KPMG, resigned the account because of alleged insider trading by a KPMG auditor. KPMG also relinquished its role at Skechers (NYSE:SKX[15]).

Three Up

Three Down

Marc Bastow is an Assistant Editor at InvestorPlace.com. As of this writing, he was long MSFT.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/11/IPMarketRecap.gif
  2. solid report: http://investorplace.com/2013/04/alcoas-earnings-beat-bodes-well-for-stocks/
  3. AA: http://studio-5.financialcontent.com/investplace/quote?Symbol=AA
  4. MSFT: http://studio-5.financialcontent.com/investplace/quote?Symbol=MSFT
  5. INTC: http://studio-5.financialcontent.com/investplace/quote?Symbol=INTC
  6. FSLR: http://studio-5.financialcontent.com/investplace/quote?Symbol=FSLR
  7. announcing strong forward guidance: http://investorplace.com/2013/04/first-solars-massive-surge-halts-trading/
  8. YGE: http://studio-5.financialcontent.com/investplace/quote?Symbol=YGE
  9. SPWR: http://studio-5.financialcontent.com/investplace/quote?Symbol=SPWR
  10. JKS: http://studio-5.financialcontent.com/investplace/quote?Symbol=JKS
  11. TAN: http://studio-5.financialcontent.com/investplace/quote?Symbol=TAN
  12. JCP: http://studio-5.financialcontent.com/investplace/quote?Symbol=JCP
  13. CEO was ousted by the board: http://investorplace.com/2013/04/ackman-finally-realizes-that-jcpenney-hit-rock-bottom-now-what/
  14. HLF: http://studio-5.financialcontent.com/investplace/quote?Symbol=HLF
  15. SKX: http://studio-5.financialcontent.com/investplace/quote?Symbol=SKX
  16. CLF: http://studio-5.financialcontent.com/investplace/quote?Symbol=CLF
  17. LVLT: http://studio-5.financialcontent.com/investplace/quote?Symbol=LVLT
  18. VALE: http://studio-5.financialcontent.com/investplace/quote?Symbol=VALE
  19. MTG: http://studio-5.financialcontent.com/investplace/quote?Symbol=MTD
  20. STWD: http://studio-5.financialcontent.com/investplace/quote?Symbol=STWD
  21. TSLA: http://studio-5.financialcontent.com/investplace/quote?Symbol=TSLA

Source URL: http://investorplace.com/2013/04/tuesdays-ip-market-recap-jcp-msft-intc-tls-aa-spwr/
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