Energy
Some Shade Falls Over Solar Shares (WFR, C, AMAT, AONE, FSLR)
Published:
Last Updated:
Shares in MEMC Electronic Materials Inc. (NYSE:WFR) have been downgraded from ‘Buy’ to ‘Hold’ by Citigroup (NYSE:C). MEMC makes crystalline polysilicon wafers used in some photovoltaic solar cells, and the market appears to be oversupplied for both this year and next.
Prices for polysilicon could fall by as much as 50%, which would really squeeze MEMC’s revenues and margins.
Another wafer maker, Applied Materials Inc. (NASDAQ:AMAT), got an upgrade from Citigroup, from ‘Hold’ to ‘Buy’. Applied also makes crystalline polysilicon wafers, but its thin-film products could easily pick up the slack if the market for polysilicon takes the expected tumble.
And while alternative energy shares were hot last week, primarily due to the IPO of A123 Systems Inc. (NYSE:AONE), things have cooled a bit today. Even A123 is down nearly 3% in early trading today.
Nearly all the solar players are moving downward this morning. MEMC is off about 3.5% to around $16.69, and First Solar, Inc. (NASDAQ:FSLR) is off nearly 3.75% to $149.15. The big winner so far is Applied Materials, which is up more than 3.25% to $13.53.
Paul Ausick
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
