No Shine in First Solar (FSLR)

Posted in General, pre-market 
August 17th, 2009

First Solar Inc. (NASDAQ: FSLR) is down after a Barron’s report said that its recent earnings gain came on the heels of aggressive accounting.  This has already been defended by Jefferies this morning, with a reiterated BUY rating.  But the damage is done and shares are down on what is still rather light trading volume.  This stock is down 4.5% at $135.40 on 53,000 shares as of 8:42 AM EST.  Average volume is over 3.5 million shares, so volume is not likely to strong until after 9:15 AM EST at this point. -JON OGG

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