Friday, October 12, 2012

Solar Panel Manufacturers Score on Trade Ruling – First Solar, Inc.(NASDAQ:FSLR), CSIQ, TSL, LDK, STP

It is a good time for solar panel manufacturers at least for now because right after the Obama administration upheld tariffs on Chinese solar panels, the shares of these companies shot up. Chinese solar firms as well as manufacturers from the US gained in afternoon trading.

China’s rise was due to the tariffs being below preliminary tariffs imposed in May. According to the US government, the country is brimming with subsidies of China-based companies offering low-cost panels. US firms announced tariffs in the range of 18% to nearly 250%.

First Solar, Inc.(NASDAQ:FSLR), based in US moved up 3.23% or 68 cents to $21.72, whereas Canadian Solar Inc.(NASDAQ:CSIQ) having dual operations in US and China went up 9 cents or 3.42%to $2.72 Canadian Solar is not too happy with final verdict of the Commerce Department, but they will continue to meet the demands of the US solar energy market and come up with innovative solar energy solutions that are reasonably priced.

Trina Solar Limited (ADR)(NYSE:TSL), moved up 5 cents or 1.20% to $4.20. The company had stated that components of solar panels could be imported from other countries in case they are deeply affected due to the imposed duties. US depository shares of China-based LDK Solar Co., Ltd (ADR)(NYSE:LDK) and Suntech Power Holdings Co., Ltd. (ADR)(NYSE:STP) went down to $1.01 and 0.84 cents respectively with a decline rate of 2.88%. and 5.62% respectively

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