Updated from 2:08 p.m. ET to information from Commerce Department release, analyst comment, and solar trade group statement.
NEW YORK ( TheStreet) -- Shares of Trina Solar (TSL), Yingli Green Energy (YGE) and Suntech Power (STP) rose sharply at midday Tuesday after the Commerce Department announced preliminary tariffs on imported Chinese solar panels that are more modest than anticipated.
Shares of the three leading Chinese solar panel makers led the shares of all Chinese solar stocks higher after what had been a morning of heavy selling in the solar sector.
While a precedent-setting victory on paper for German-headquartered SolarWorld, which has its U.S. manufacturing base in Oregon and led the trade complaint, the market reaction indicated what solar experts thought of the punishment.U.S. solar panel leaders Sunpower (SPWR) and First Solar (FSLR) declined, while the Chinese solar companies rallied. First Solar may be facing selling pressure also because its large-scale solar projects became the focus on a
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