Solar Stocks Look to Rally Big Thursday
NEW YORK (
) -- Thursday is shaping up to be a long day for solar short players.
First Solar
(FSLR) - Get First Solar, Inc. Report
revised earnings per share guidance for 2010 higher in its after-market earnings report on Wednesday, and all the solar stocks popped in the pre-market on Thursday morning on the First Solar outlook.
First Solar was leading the charge, with shares up close to 10% on Thursday morning.
Trina Solar
(TSL)
and
Suntech Power
(STP)
were up 4%.
JA Solar
TheStreet Recommends
(JASO)
was up more than 6% in pre-market trading. JA Solar already upped its shipment guidance for the first quarter earlier in 2010.
Solarfun Power
(SOLF)
was up more than 4%.
The First Solar after-market earnings from Wednesday indicated that the demand in Europe continues to drive module sales and shows no sign of slowing down, in First Solar management opinion, leading to higher earnings per share as the higher margin module sales business drives the 2010 business.
A rally in solar seems like a sure thing for Thursday's trading session, as shorts cover their positions and optimism again reigns in the volatile solar sector.
-- Reported by Eric Rosenbaum in New York.
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