First Solar Joins S&P 500

NEW YORK (TheStreet) -- While many stocks were dipping just on the heels of worst-than-expected September jobs data, one solar stock -- the highly flammable First Solar -- was brightening in the early going.

On Thursday evening, news circulated that Tempe, Ariz.-based First Solar will replace drugmaker Wyeth(NWSA Quote) on the benchmark S&P 500 Index.

On Friday morning, shares for First Solar, which makes thin-film solar modules, were bidding higher, adding $8.04, or 5.6%, at $151.80.

Wyeth, which is being acquired by Pfizer(PFE Quote), will also be replaced on the S&P 100 Index by News Corp.(NWS Quote).

Elsewhere in the solar sector, SunPower(SPWRA Quote) and Yingli Green Energy were also heading lower, losing 2.2% and 1%. Suntech Power was moving slightly higher, gaining 0.4% in the morning.

-- Written by Sung Moss in New York

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