First Solar (NASDAQ: FLSR) fell 7% on concerns that the US government’s financial support of renewable energy will falter. The federal government’s move toward austerity makes it likely that this threat to earnings and sales will worsen.
Shares in mega-ag company Monsanto (NYSE: MON) dropped about 7% after announcing poor earnings.
Shares in Southwest Airlines (NYSE: LUV) fell 7% as concerns about the safety of its fleet of over 100 737s increased. Southwest did the right thing to take them out of service after one tore open on a flight from Phoenix over a week ago, but has paid a price for good corporate citizenship.
News of a larger-than-expected inventory of oil pushed down shares in Peabody Energy (NYSE: BTU)
Harley Davidson (NYSE: HOG) moved lower on rumors that its March sales were poor. Sales going forward will be probably be hurt because of the increased price of gas.
Yum! Brands (NYSE: YUM) sold down, possibly because rival McDonald’s (NYSE: MCD) announced it will add 50,000 workers–a sign of its sales strength.
Douglas A. McIntyre
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