NEW YORK (TheStreet) -- Solar and alternative energy ETFs sold off on Friday, as markets gave a thumbs down to results from First Solar(FSLR) and MEMC Electronics(WFR) reported on Thursday.
First Solar beat earnings expectations, but solar sector bears chose to beat down the stock by 7.42% on pricing pressure concerns and subsidy reductions. MEMC missed earnings estimate by 3 cents and the stock is among the worst losers on Friday morning, dropping 15.2% to $9.55. Market Vectors Solar ETF (KWT), which has a 10.2% holding in MEMC and a 9.6% holding in First Solar, shed 4.2% on Friday to end at $11.18. Claymore/MAC Global Solar Energy ETF(TAN) and iShares S&P Global Clean Energy ETF(ICLN) were also heading lower. Appetite for gold returned again on Friday. Gold prices headed higher as the dollar sank to a 2010 low on weak economic growth data. The SPDR Gold Shares(GLD) rose 1.1% to $115.50. The Market Vectors Junior Gold Miners ETF(GDXJ), which invests in higher-risk, higher-return gold stocks, also gained 1.8%. -- Reported by Shanthi Venkataraman in New York. Follow TheStreet.com on Twitter and become a fan on Facebook.Featured Photo Galleries
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,387.01 | 1,098.87 | 2,228.87 | 26.54 |
Oil *
78.19
|
|
UP
46.32 |
UP
7.03 |
UP
19.98 |
UP
0.45 |
10 Yr
2.65%
SPDR Gold
122.71
|
|
+0.45%
|
+0.64%
|
+0.90%
|
+1.72%
|
Data delayed 20 minutes |
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