• 3 minutes EU Confirms Trade Retaliation Measures vs. U.S. To Take Effect on June 22
  • 8 minutes Could oil demand collapse rapidly? Yup, sure could.
  • 15 minutes Oil and Trade War
  • 1 hour U.S. Withdraws From U.N. Human Rights Council
  • 3 hours Could oil demand collapse rapidly? Yup, sure could.
  • 3 hours EU Confirms Trade Retaliation Measures vs. U.S. To Take Effect on June 22
  • 20 hours Are EVs Safer Than Combustion Engine Vehicles?
  • 1 min Tariffs to derail $83.7 Billion Chinese Investment in West Virginia
  • 4 mins What If Canada Had Wind and Not Oilsands?
  • 4 hours North Korea, China Discuss 'True Peace', Denuclearization
  • 4 hours WE Solutions plans to print cars
  • 1 hour Kaplan Says Rising Oil Prices Won't Hurt US Economy
  • 1 min Saudi Arabia turns to solar
  • 5 hours Gazprom Exports to EU Hit Record
  • 10 hours EVs Could Help Coal Demand
  • 9 hours Hey Oil Bulls - How Long Till Increasing Oil Prices and Strengthening Dollar Start Killing Demand in Developing Countries?
  • 23 hours Sell out now or hold on?
  • 23 hours Migrants: Italy Wants EU Border Agency In Africa, Not At Sea
  • 19 hours Oil prices going down
Alt Text

Russia Boosts Oil Production Before OPEC Meeting

Russia pumped almost 11.1 million…

Alt Text

Saudi Aramco Looks To Double Refining Capacity

Saudi Aramco looks to almost…

Alt Text

Tesla’s Newest Car Will Have Rocket Thrusters

Tesla CEO Elon Musk tweeted…

Martin Tillier

Martin Tillier

More Info

Trending Discussions

Time To Reverse A Very Successful Trade

Trading Screen

Long-term regular readers will be aware that I have been consistently bullish on First Solar (FSLR) for a long time. The stock is up just over 155 percent in the last year, so that has been proven a good call, but, as the old saying goes, all good things must come to an end. It is time to take a profit on the stock, and the more adventurous among you may even want to consider reversing the position and selling it short.

(Click to enlarge)

There are multiple reasons to believe that the great run the stock has enjoyed is coming to an end, but the market reaction to another huge EPS beat yesterday is first among them. After the market closed yesterday, FSLR reported earnings per share of $0.78. Estimates going in were varied and even the consensus number depended on who you followed and how they calculated the number. Zacks were expecting a loss of five cents, while other, broader based estimates were for a profit of about the same.

Either way, and even after some adjustment, the $0.78 result was spectacular and showed massive growth when compared to last year’s nine cents. The stock is reacting accordingly this morning, trading up at around $81. Dig a little deeper into the report though, and that looks like a big overreaction and a good opportunity to sell into the post-earnings pop.

The EPS somewhat overshadowed another, more worrying number. Revenue came in at $567.27 million, beating expectations but down over thirty-six percent from…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





Oilprice - The No. 1 Source for Oil & Energy News