UPDATE: First Solar Shares Hold Losses, Down 15% After Earnings Miss

By MidnightTrader.com Staff,

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First Solar Inc. ( FSLR ) failed to recoup pre-market losses slipping 15% to $26.72 in afternoon trading after its Q4 sales missed Wall Street Forecasts.

The stock dropped 13.4% in the pre-market and has been trading in the range of $25.50 to $27.25 during the day's session. Shares are currently down $4.67 to $26.69, amid a 52-week range of $11.43 to $36.98.

The company reported $1.1 bln in Q4 net sales, up 62% from the the year-ago quarter but trailing analyst forecasts by around $220 mln. Net income for the quarter was $2.04 per share, ahead of estimates for $1.76. For Q1, the company says it sees EPS of $0.70-$0.90 on revenue of $650 to $750 million. The Street is at EPS of $0.89 on revenue of $826.87 million.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Commodities
Referenced Stocks: FSLR

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