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.>To order reprints of this article, click here: ReprintsTheStreet Premium Services For Personal Service: 877-471-2967
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn More
ETF Profits:
Get money-making ideas from the hottest investment vehicle on the planet. Our experts show you how to play various ETF sectors to help pump-up your portfolio. Learn More
OptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn More
Real Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn More
Stocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn MoreTo 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.
blog comments powered by Disqus
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 12,890.46 | 1,351.95 | 2,927.23 | 20.47 |
Oil *
118.75
|
|
UP
6.51 |
UP
1.99 |
UP
11.37 |
UP
0.72 |
10 Yr
2.05%
SPDR Gold
168.02
|
|
+0.05%
|
+0.15%
|
+0.39%
|
+3.65%
|
Data delayed 20 minutes |
Connect with TheStreet