Mixed Results In Solar Sector Send Stocks Flying

• By the tickerspy.com Staff
• On 12:37 pm EDT, Friday October 30, 2009

After yesterday's disappointment from First Solar (NASDAQ: FSLR - News), a micro-cap play is leading its peers ahead.

Fremont, California-based high-performance compound and single element semiconductor substrates firm AXT (NASDAQ: AXTI - News) is leading the small- and micro-cap solar sector higher to end the week. The company, whose products are used in satellite terrestrial solar cells, among other applications, reported a surprise profit in the third quarter, sending its shares up by 25%.

AXT reported Q3 EPS of 7 cents, crushing analysts' expectations of a -2 cent loss. Revenue also beat estimates, coming in at $16.8 million.

As a whole, the Solar Stocks Index is mixed on the day. The Index is currently lagging the S&P 500 by -10% over the last month.

Entech Solar (OTC: ENSL - News), Akeena Solar (NASDAQ: AKNS - News), and DayStar Technologies (NASDAQ: DSTI - News) are trading higher today. All three are valued at less than $100 million.

Meanwhile in the heavyweight division, $10.7 billion First Solar is struggling to recover after weaker-than-expected third-quarter revenues crushed the stock yesterday. Company chairman Mike Ahearn chalked the miss up to a "timing issue," assuring analysts, "we remain on track for annual guidance." According to the Associated Press, analysts aren't discouraged by the results either. If they're right, First Solar is being offered at a healthy discount after sliding -18% this week.

The Chinese Solar Stocks Index is painted in red today to end a week where only JA Solar (NASDAQ: JASO - News) remains positive. LDK Solar (NYSE: LDK - News), Canadian Solar (NASDAQ: CSIQ - News), and Trina Solar (NYSE: TSL - News) are all down by -7% or more for the period.

As of this writing, the Solar Stocks Index is one of the 25 worst-performing tickerspy Indexes over the last month, down by -11.5%.

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