Solar Stocks Flare — Tuesday’s IP Market Recap

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

InvestorPlace 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 As of this writing, he was long MSFT.

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  2. solid report:
  3. AA:
  4. MSFT:
  5. INTC:
  6. FSLR:
  7. announcing strong forward guidance:
  8. YGE:
  9. SPWR:
  10. JKS:
  11. TAN:
  12. JCP:
  13. CEO was ousted by the board:
  14. HLF:
  15. SKX:
  16. CLF:
  17. LVLT:
  18. VALE:
  19. MTG:
  20. STWD:
  21. TSLA:

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