Five Star Equities Provides Stock Research on First Solar and SunPower
NEW YORK, NY -- (Marketwire) -- 06/14/12 -- Solar stocks rebounded sharply Tuesday as First Solar Inc. stated that demand from Europe has grown unexpectedly. First Solar has delayed the closing of a German plant to meet unexpected demand in Europe. "First Solar's comments fit in with what several Chinese companies have also been saying, which is that demand remains strong," stated David Smith, the portfolio manager of Gabelli Green Fund. Five Star Equities examines the outlook for companies in the Solar Industry and provides equity research on First Solar, Inc. (NASDAQ: FSLR) and SunPower Corporation (NASDAQ: SPWR).
First Solar, as part of their global restructuring plan, which included cutting their staff by 30 percent, had previously planned to shut down their German plant in October. First Solar "is returning to a full work schedule" at their Frankfurt factory, Mitchener said in an e-mail Tuesday. The plant will operate "near full production capacity through October, and then begin to wind down production and close the facility by year-end." Shares of First Solar surged over 20 percent in Tuesday trading.
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Last week Bloomberg reported solar panel makers were boosting production in 2012 as demand in China was expected to double. The $36 billion market is shifting from Europe to Asia. According to estimates compiled by Bloomberg shipments from the five biggest producers of polysilicon solar modules are expected to rise 27 percent to 37 percent, with China's Suntech Power Holdings Co. and Yingli Green Energy Holdings Co. leading the way.
Bloomberg New Energy Finance predicts that China, who trails only Germany and Italy in new installations, will become the top solar market in 2013 as subsidies for new projects are being cut by European nations. "Europe is going down and Asia is going up," said Matt Feinstein, an analyst at Lux Research Inc.
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