Energy
Solar Stock Winners: Power-One
First Solar easily beat the Street, but unlike last quarter when a beat led to a $22 hike in First Solar's share price, the after-hours reaction on Thursday to another healthy First Solar outperformance of Street expectations on earnings and revenue was selling action in First Solar shares.
MEMC reported earnings of 6 cents, below the Street expectation of 9 cents per share. MEMC revenue came in short of expectations, too, at $448 million, versus the Street at $466 million, and it lowered its previous full year earnings per share guidance. The big drop from MEMC was in the SunEdison solar systems business that it acquired last year, where revenue dropped by 50%.
Both MEMC and First Solar continued to trade down on Friday morning. MEMC opened lower by close to 14%. First Solar opened lower by 6% in Friday trading. -- Written by Eric Rosenbaum from New York.
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
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| 12,454.83 | 1,317.82 | 2,837.53 | 17.45 |
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