The sun is not shining on solar stocks these days. Evergreen Solar Inc. (NASDAQ:ESLR) reported a fourth-quarter net loss of $52.1 million (EPS of -$0.32) on revenue of $44.2 million. Analysts had expected an EPS loss of -$0.14 on revenue of $46.5 million. Evergreen’s woes are the result of a plant closure, an equipment write-down, and start-up costs on new plants in Massachusetts and Michigan. According to Reuters, the company missed its own fourth-quarter forecasts for revenue and gross margins.
The share price fell in after-hours trading to $1.99, from a closing price of $2.22. The 52-week low for Evergreen was $1.89…. we are currently under that level.
Paul Ausick
February 6, 2009
Is Your Money Earning the Best Possible Rate? (Sponsor)
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
