Shares of Inc. () are being pummeled this morning, with a batch down scarcely 13% in . Investors are reacting to nonetheless another cut to mercantile 2011 projections, a diseased opinion for mercantile 2012, and a reorder that includes a depart of James Zhu.
Fundamentally, First Solar now expects 2011 earnings of $5.75 to $6 per share on sales of $2.8 billion to $2.9 billion, down from before superintendence for gain of $6.50 to $7.50 per share and income of $3 billion to $3.3 billion. In addition, First Solar pronounced it would write down a assign of 85 cents per share in a stream entertain associated to apparatus and severance.
For mercantile 2012, a association projected gain of $3.75 to $4.25 per share on sales of $3.7 billion to $4 billion. Analysts were awaiting sales of $7.42 and $4.09 billion.
The researcher village wasn't overly confident toward First Solar before to this morning's announcement. According to Thomson/First Call, FSLR has captivated 18 Buys, 19 Holds, and 6 Sell ratings, a pattern that leaves copiousness of room for intensity downgrades. What's more, there is also a probability of price-target cuts, as 's normal 12-month aim of $56 represents a whopping reward of about 51% to FSLR's pre-market roost nearby $37.
Complacency is a name of a persion in a FSLR options pits. Currently, a batch sports sum call of about 208,585 , compared to sum put open seductiveness of 184,008 contracts. The outcome is a sum put/call open seductiveness ratio of 0.88, definition that are in nearby relation on FSLR.
That said, opinions seem to be changing fast on FLSR. During Tuesday's trading, a batch captivated put volume of 39,801 contracts and call volume of 13,330 contracts, ensuing in a single-session put/call volume ratio of 2.99. In other words, puts were scarcely 3 times as renouned as calls yesterday, underscoring a flourishing bearish stream among suppositional traders.
Technically speaking, FSLR has plummeted some-more than 67% given a start of 2011. Throughout this decline, a equity has been capped by brave insurgency during a 50-day . However, FSLR might not have to worry about this trendline for some time. Should this morning's pre-market waste lift over into a open, a will be on march to trade during their lowest indicate given Feb 2007.
News referensi http://news.yahoo.com/first-solar-hits-4-low-cuts-11-guidance-133357288.html
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5:39 AM Wednesday, December 14, 2011