First Solar (FSLR) NewsBite - FSLR Lower on STP Downgrade

Tuesday, December 09, 2008 9:48 AM EDT

First Solar (NasdaqNM: FSLR) opened at $127.08. So far today, the stock has hit a low of $125.55 and a high of $128.40. FSLR is now trading at $127.47, down $7.37 (-5.47%). Over the last 52 weeks the stock has ranged from a low of $85.28 to a high of $317.00. FSLR shares are declining this morning, under pressure after a Jesup & Lamont analyst downgraded fellow solar stock Suntech Power (STP) to "Hold" from "Buy." Technical indicators for the stock are bullish and S&P gives FSLR a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on FSLR the stock seems like it could be a candidate for a December out-of-the-money bear-call credit spread above the 165 range. [ABR-Seven Summits Strategic Investments NewsBite]

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