Solar names rally after First Solar guidance beats expectations

theflyonthewall.com

Solar energy companies are climbing after First Solar (FSLR) provided higher than expected 2013 earnings per share guidance. WHAT'S NEW: Earlier this afternoon First Solar estimated that its 2013 earnings per share would be $4.00-$4.50, versus analysts' consensus estimate of $3.46. The guidance excludes up to $10M in restructuring expenses. The company anticipates that its 2013 revenue will also be higher than expected. First Solar expects to ship 1.6GW-1.8GW of solar modules this year. First Solar's 2014 earnings per share guidance was roughly in-line with analysts' consensus estimate while its outlook for 2015 topped expectations. PRICE ACTION: In mid-afternoon trading, Yingli Green Energy (YGE) jumped 18% to $2.20, Canadian Solar (CSIQ) rose 9% to $4.15, Suntech Power (STP) surged 39.5% to 67c, SunPower (SPWR) rose 19% to $11.60, and MEMC Electronic (WFR) rose 9.4% to $4.67.

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