First Solar (FSLR) now -6% in response to its Q3 report, as a top-line miss and weak operating cash flow guidance overshadow EPS strength. Cantor is downgrading to Hold on valuation and concerns about the profitability of new projects. Management noted on the earnings call solar continues to see "an increasing number of production cuts, capacity reductions and bankruptcies," and that several construction sites have been impacted by Hurricane Sandy. Q3 capacity utilization was 83%, up from Q2's 63%, and production cost/watt fell by $0.05 to $0.67.
First Solar (FSLR) now -6% in response to its Q3 report, as a top-line miss and weak operating...
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