Volume Spike Investor

First Solar  Inc. (Nasdaq: FSLR) shares are down about 4% as of 11:10 a.m. Eastern, on strong relative volume compared to its average first two hours of trading.

The company’s first analyst day in more than a year was hosted in Las Vegas yesterday, and it received a lukewarm response from investors and analysts.

The company did not update near-term guidance. But management said the lack of available credit is still curtailing potential business in many markets.

If that is the case, that may also affect other solar and solar-related plays including Evergreen Solar Inc. (Nasdaq; ESLR), Sunpower Corp. (Nasdaq: SPWRA),  and Energy Conversion Devices Inc. (Nasdadq: ENER)

Of particular note, the company said it expects Europe to start cutting back on solar subsidies beginning next year, a potentially margin-eroding development for the company and perhaps its competitors — Mike Tarsala.