Unlike last quarter's guidance report, the Company is reducing 2013 full-year net sales because it expects to sell two system projects after completion, delays in government approvals, higher expected higher operating expenses, and costs related to the above mention shelf offering. In other words, today isn't nearly as sunny as the day after last quarter's report.
On a brighter note, First Solar is the one to catch in this space, and it doesn't appear any of the others have their running shoes on. Yingli Energy Holding's (YGE - Get Report) shares have moved off the bottom, but the company is losing money. LDK Solar (LDK) is officially on my death watch. LDK is so pathetic that the stock makes Lotto ticket buyers appear to be exemplary stewards of capital allocation.
Bottom line: Expect First Solar to be trading for less than $40 by the end of this week.
At the time of publication, Weinstein had no positions in stocks mentioned.Follow @RobertWeinstein This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts