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All Posts Term: Oil and Gas
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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.

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