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First Solar, Inc. (FSLR)

  • Jun. 11, 2013, 5:06 PM
    More on First Solar: The company has followed up on the filing by announcing an 8.5M-share stock offering that stands to increase its diluted share count by ~11%. First Solar says it will use the proceeds for "general corporate purposes," which could include solar project acquisitions/investments and "strategic investments to develop certain business units and expand in new geographies." FSLR -4.8% AH.
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  • Jun. 11, 2013, 4:59 PM
    First Solar (FSLR) -4.1% AH after filing an automatic mixed shelf. The solar giant had $1.01B in cash/investments and $562M in debt on its balance sheet as of March 30.   (S-3)
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  • Jun. 11, 2013, 10:40 AM
    Volatile solar stocks head south (TAN -4%) after LDK Solar (LDK -8.5%) beat Q1 revenue estimates by $7.1M, but missed EPS forecasts $0.25 thanks to a -57% gross margin (-42.7% exc. a $15.1M inventory write-down), and provided somewhat disappointing revenue guidance. JKS -5.5%. TSL -4.9%. JASO -6.2%. DQ -4.8%. SPWR -4.4%. FSLR -4.9%. YGE -5.2%. GTAT -3.6%. FSLR -4.9%. LDK ended Q1 with $174M in cash, $182M in pledged bank deposits, and a whopping $2.6B in debt. (SolarCity)
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  • Jun. 5, 2013, 1:48 PM
    Maxim restarts coverage on First Solar (FSLR -3.3%) with a Sell and $42 PT.  The firm downgraded First Solar to Sell in April '12 (shares are up 147% since then), and issued a string of bearish reports afterwards. (earlier)
  • Jun. 5, 2013, 11:41 AM
    Solar stocks see a bit of profit-taking after Goldman downgrades JA Solar (JASO -9.3%) and Trina (TSL -6%), and the EU officially announces Chinese module tariffs that will only total 11.8% for now, but could soar as high as 67.9% on Aug. 6 if a settlement isn't reached. Yingli (YGE -5.4%) states its tariff will rise to 37.3% on Aug. 6, which it claims is "the lowest rate" of all Chinese mobile vendors. Trina says its tariff will rise to 51.5%. LDK -5.2%. CSIQ -3.5%. JKS -3.2%. CSUN -4.1%. SOL -4.4%. FSLR -3.4%. CSIQ -3.5% in spite of its solar plant sales.
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  • May. 30, 2013, 9:13 AM
    Premarket gainers: NVE +22%. CLWR +20%. MY +15%. CLSN +13%. HSOL +12%. CPST +10%. EXPR +9%. LXRX +8%. BLDP +8%. VRNG +7%. RSOL +6%. WFR +6%. AMRN +6%. FSLR +6%. ALU +6%. EMC +6%. STP +5%. HIMX +5%. OCZ +5%.
    Losers: ABIO -31%. BIG -9%. VNR -5%. BPFH -5%.
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  • May. 30, 2013, 8:53 AM
    First Solar (FSLR) +6.6% premarket as Goldman Sachs upgrades shares to Buy from Neutral with a $64 price target (from $43), citing strong free cash flow, a low bar and reasonable valuation. Goldman sees "execution on an industry-leading 2.5GW backlog of predominantly North American projects positioning First Solar to generate $5-$6 of free cash flow per share annually through 2015."
  • May. 22, 2013, 10:19 AM
    Talks designed to ease the solar panel trade spat between China and the EU by agreeing on export prices have failed, Xinhua reports. Solar shares are broadly lower: STP -18.7%, JASO -3.4%, TSL -2.3%, YGE -2.5%, SPWR -2.5%, LDK -7.3%, JKS -4.1%, FSLR -2.5%.
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  • May. 21, 2013, 9:21 AM
    Solar stocks took off in response to JA Solar's results yesterday, and they're surging premarket in response to Yingli's guidance hike today. Chalk it up to both heavy short interests, and growing optimism capacity cuts and rising non-European demand can put the troubled industry on more stable footing. Lux Research predicts solar's supply glut will evaporate, but not until 2015. TSL +9.1%. JASO +14.6%. LDK +9.8%. FSLR +1.6%. CSIQ +6.2%. JKS +6.5%. SOL +11.3%.
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  • May. 15, 2013, 9:17 AM
    SunPower (SPWR) +7.5% after providing strong guidance ahead of today's analyst day, which starts at 10AM ET (webcast). SunPower expects Q2 revenue of $550M-$600M and EPS of $005-$0.15, above a consensus of $513.3M and -$0.02. 2013 guidance (possibly conservative) is for revenue of $2.5B-$2.6B and EPS of $0.60-$0.80 vs. a consensus of $2.55B and $0.64. Gross margin is expected to fall to 14%-16% in Q2 from Q1's 22.7%, and total 15%-17% in 2013. 2013 free cash flow of $100M-$200 is expected. Shares now +57% since SunPower posted a huge Q1 beat on May 2. FSLR +2.5%. WFR +1.9%. LDK +1.5%. TSL +3.5%. SOL +2.7%. (slides)
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  • May. 13, 2013, 11:27 AM
    SolarCity (SCTY +18.6%) is skyrocketing ahead of today's Q1 report - does someone know something? - and many other solar peers are also doing pretty well (TAN +4.5%). SOL +9.8%. CSIQ +11.6%. WFR +8%. LDK +9.3%. JASO +5.4%. SPWR +4.8%. FSLR +4.5%. GTAT +5.2%. JKS +7.9%. Short interests for many industry names remain sky-high: SolarCity had 16.6% of its float shorted as of April 30. SunPower was at 29.9%, First Solar 33.4%, and GT Advanced 34.8%.
  • May. 10, 2013, 12:29 PM
    Volatile/well-shorted solar stocks are ripping higher (TAN +5.4%) to close out a week in which the EU imposed long-expected tariffs on Chinese solar panel imports. TSL +10%. CSIQ +16.1%. STP +9.1%. SCTY +8.6%. SOL +8.3%. JASO +7.5%. FSLR +4.6%. JKS +9.4%. LDK +3.4%. SPWR +7.8% A Reuters column today notes the pace of module price declines is expected to slow, as weaker players are forced out and U.S./emerging markets demand gradually soaks up excess capacity.
  • May. 7, 2013, 10:33 AM
    First Solar (FSLR -8.6%) dives as the sell-side provides a tepid response  to its Q1 report, which featured a big gross margin drop to 22.4% (blamed on rev. recognition timing and construction delays, and a lower utilization rate). Needham (Hold) argues the numbers didn't do much to improve visibility, and thinks FSLR's 2014/2015 targets "look aggressive." Likewise, Stifel (Hold) thinks much of FSLR's 5.5GW pipeline is early-stage, and doesn't think the company's deal close rate is improving. On the earnings call, management talked of achieving a sustainable gross margin of 15%-20% on new projects. Shares remain up 41% YTD.
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  • May. 6, 2013, 4:51 PM
    More on First Solar: Q1 gross margin was 22.4%, +700 bps Y/Y but -490 bps Q/Q (main reason for EPS miss). Exc. restructuring charges ($401M a year ago), opex -20% Y/Y. $66M in operating cash flow, down from Q4's $328M. Cash/investment balance roughly unchanged Q/Q at ~$1B. 300MW in Q1 bookings; expected future module shipments -100MW Q/Q to 2.5GW. Module production -11% Q/Q to 370MW, capacity utilization -900 bps to 75%. Cost/watt up by $0.01 to $0.69. Advanced stage project pipeline up by 200MW to 3.1GW. FSLR now +0.9% AH. (PR) (slides)
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  • May. 6, 2013, 4:09 PM
    First Solar (FSLR): Q1 EPS of $0.69 misses by $0.06. Revenue of $755.2M (+52% Y/Y) beats by $27.9M. 2013 analyst day guidance maintained. Shares -3.5% AH. CC at 4:30PM ET (webcast). (PR)
  • May. 6, 2013, 12:10 AM
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Company Description
First Solar Inc is a provider of solar energy solutions. It designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. It also manufactures crystalline silicon solar modules.