FSLR, a darling of analysts, beat earnings and raised guidance when it reported its results on Wed after market closed. Above chart of stock with after hours action. Stock traded at $206.5 after hours, up $39.38. The solar energy sector has been going from strength to strength despite the market weakness. Don't believe? Check out JASO, STP, SPWR, ESLR. Other stocks in this sector that may move in response to the blow-out earnings from FSLR includes: AKNS, ASTI, CSIQ, CSUN, DSTI, LDK, SPIR, TSL, WFR, YGE.
CSCO fell almost 9% after hours to $29.82 despite reporting decent numbers. Why? Its revenue growth forecast for the current quarter fell short of analysts' expectations. CSCO result is likely to weigh the Nasdaq down when market opens on Thurs. Let's see if Nasdaq, which up till now has been leading ahead of S&P 500 and DOW, can defend its position.
On a separate note, both the DOW and S&P 500 have carved out lower high and lower low with yesterday's action. The bears are now officially in control. As for the financial sector, the 2-day relief was indeed a very short and temporary one. It broke the down trend line yesterday. I will try to post the charts later today or in my next post.