(First Solar story updated for clarification of comments from Maxim Group and Collins Stewart analysts) NEW YORK ( TheStreet) -- Shares of U.S. solar company First Solar ( FSLR) slid by 7% on Wednesday, possibly due to the company reportedly hinting to some investors and analysts that one of its three large-scale solar projects would not receive a loan guarantee from the Department of Energy, as first reported on TheStreet on Wednesday.On Thursday morning, the company made it official, putting out a press release that said its Topaz project, one of the larger U.S. solar projects ever to be planned, would not receive a government loan guarantee, a day after some analysts and investors said First Solar was spreading the word.
- 1. The analysts could all say that "the news was expected." Nobody likes a surprise.
- 2. The analysts had a chance to pre-emptively give the company's spin.
- 3. First Solar could provide leading information to the analysts, who could then reach "their own conclusions" about the solar project outlook.