This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Solar Stocks Slip: Too Hot to Handle?

(Updated for rise in LDK stock price)

NEW YORK ( TheStreet) -- Earnings have been strong from Chinese solar companies throughout the week, but that didn't help shares in the sector on Friday morning.

Inded, what had been a Tuesday-Wednesday-Thursday flare up for most of the solar companies, flared out early Friday morning, with all but one of the companies in the sector giving back gains from the preceding days' trading sessions.

Most Popular
Apple's Decade: How It Can Hit $500
Most Commented
Biotech Stock Mailbag: FDA Playbook

Options overnight on the sector were lower, suggesting a poor open today. Were investors overly optimistic on better-than-expected earnings in the sector this week, or was it just a few big short-term profit takers moving against the stocks to close out the week?

In the end, the overbought/oversold debate could result in a weakness in stock price in some companies that actually have strong outlooks for the rest of the year and first quarter 2010.

Suntech Power Holdings (STP) and Canadian Solar (CSIQ - Get Report) led the downward spiral, with mid-morning losses of 4.7% and 4.9%, respectively.

LDK Solar (LDK), which came into the day on positive overnight news that it had closed the previously announced sale of a 15% interest in its polysilicon processing plant for $219 million, was flat early in the session, but soon shot up over 2%, bucking the general downturn in the sector.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
STP $0.53 0.00%
LDK $0.00 0.00%
CSIQ $36.36 0.00%
TSL $12.58 0.00%
AAPL $130.28 0.00%


DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs