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All Posts Term: first solar
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Market NewsOil and Gas

First Solar Inc. In The Spotlight After Trump's Executive Order

FirstSolarInc

After CNN reported on President Donald Trump signing an executive order today, First Solar, Inc. (NASDAQ:FSLR) is now in the spotlight. This order curbs enforcement by the U.S. federal government of various climate regulations. Mr. Trump does this to help make American jobs a priority and that is more important to him than trying to stop global temperature changes. This order will also start a Federal review process that sill investigate the Clean Power Plan initiative that may result in the loosening of regulations. a large number of traders anticipate that Trump's policies will lean in favor of coal, oil and gas industries and that renewable energy solutions such as wind and solar power will be left behind.

In a separate event this morning, Philip Shen of Roth Capital has lowered the target price from $37 per share to $29 due to anticipated short-term earnings headwinds.

As indicated by pre-market trading, traders are brushing off this news. Shares of First Solar, Inc. (NASDAQ:FSLR) are up by 1% on light volume. It appears that investors have priced in today's news effects.

Technology

First Solar To Miss Funding Deadline

President Barack Obama talks at the DeSoto Nex...

Image via Wikipedia

First Solar stated that it will not meet its federal funding program deadline for its big solar power facility in California. As a result, its shares came crashing down to their worst level in the last four years.

In response, the announcement that was made by First Solar has been highlighted by the Obama administration once again in its advocacy of solar energy. It has been the center if Republicans’ rage since the shutdown of Solyndra, a solar company that was situated in Silicon Valley. Solyndra has earned about $500 million worth of funding but still crashed down.

Last June, First Solar has acquired the approval of the U.S. Department of Energy for a loan that sum up to $1.9 billion. It will guarantee the establishment of the 550-megawatt Topaz plant. However, they said that it was not able to process all the needed documents under the loan program of the energy department before its September 30 deadline. Experts stated that the energy department’s effort to process the loan was burdensome and thorough than what banks suggested. It has set-up the Republicans’ claim that the Obama administration tends to hasten the approval of funding.

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