By Market News Video Staff, Thursday, October 28, 8:02 PM ET
After the closing bell on Thursday, First Solar (NASDAQ:FSLR) reported strong third quarter earnings of $176.9 million, or $2.04 per share, easily topping Wall Street estimates. But investors in the after-hours market were less than thrilled by the results, focusing on the $550 to $600 million in capex spending the company expects, more than double the amount for 2009. Shares of FSLR were off almost 7% late Thursday and could fall more tomorrow morning.
A number of ETFs consider First Solar one of their top holdings, and these ETFs could open sharply lower tomorrow. ETFs to watch include the Guggenheim Solar ETF (AMEX:TAN) with 13.4% of its portfolio in FSLR, the Market Vectors Global Alternatve Energy ETF (AMEX:GEX) with 10.2% of its portfolio in FSLR and the Market Vectors Solar Energy ETF (AMEX:KWT) with just under 10% of its portfolio in FSLR. For a full list of ETFs holding First Solar, visit the ETFs Containing FSLR page.
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