Energy

First Solar Guidance Shocks -- to the High Side

Solar Farm Desert
Thinkstock
In the disaster zone known as the solar sector, virtually all the news has been bad for so long that anything that smells like good news is jumped on as an excuse to buy the shares. Then today, First Solar Inc. (NASDAQ: FSLR) issues fiscal year 2013 guidance that estimates revenues at $3.8 to $4 billion, far above the consensus estimate of $3.15 billion and very strong compared with even the most optimistic estimate.

The company’s 2013 earnings per share (EPS) guidance calls for $4.00 to $4.50, also well above the consensus estimate of $3.46.

First Solar also set a target for sales of $3.5 to $4 billion in its 2014 fiscal year and $4.2 to $4.8 billion in fiscal year 2015. The EPS target for 2014 is $2.50 to $4.00 and the 2015 target is $4.00 to $6.00.

Shares of First Solar are up about 27% at $34.33 in a 52-week range of $11.43 to $36.98, and the news is lighting a fire under other U.S. solar makers.

We are seeing serious catch-up moves among peers. SunPower Corporation (NASDAQ: SPWR) is up almost 10% at $10.68 on the day. MEMC Electronic Materials Inc. (NYSE: WFR) is up 6% at $4.55 so far on Tuesday.Guggenheim Solar (NYSMKT: TAN) is up 7% at $16.90. Even SolarCity Corporation (NASDAQ: SCTY), which is on the install side rather than the panels side, is up 3.6% at $19.59. GT Advanced Technologies Inc. (NASDAQ: GTAT) is lagging with gains of only 1.2% at $3.38 on the day.

The Average American Is Losing Their Savings Every Day (Sponsor)

If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4% today, and inflation is much higher. Checking accounts are even worse.

Every day you don’t move to a high-yield savings account that beats inflation, you lose more and more value.

But there is good news. To win qualified customers, some accounts are paying 9-10x this national average. That’s an incredible way to keep your money safe, and get paid at the same time. Our top pick for high yield savings accounts includes other one time cash bonuses, and is FDIC insured.

Click here to see how much more you could be earning on your savings today. It takes just a few minutes and your money could be working for you.

 

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.