First Solar (NASDAQ:FSLR) Falls in Pre-Market

Jeff Siegel

Written By Jeff Siegel

Posted June 12, 2013

  • First Solar (NASDAQ:FSLR) is down about 6% in pre-market following the announcement of a secondary offering of 8.5 million shares. The maker of thin-film solar panels is, however, still up nearly 60% for the year.
  • BP (NYSE:BP) has reported in its yearly World Energy Statistical Review that the United States witnessed its biggest annual increase in oil production last year with 8.9 million barrels a day. That’s a 14% increase over 2011.
  • Preparing for her next election, German Chancellor Angela Merkel told reporters that she wants to scale back the country’s renewable energy subsidy program. However, I wouldn’t hold my breath on seeing Germany’s renewable energy program going gently into that good night. Particularly in the offshore wind space, where offshore wind farms are absolutely necessary to make up for what will be lost as the nation begins to phase out its nuclear power plants. It is likely that Merkel is attempting to appease voters by shifting more of the financial burden to renewable energy companies, saying: “I want a renewable energy law amendment in which feed-in tariffs are not given up, that is an incentive to push things forward, but it will be necessary for those who get support for renewable energy to participate more in grid expansion, energy supply, storage and similar things”
  • Is California indebted to natural gas? That’s what energy analyst Keith Kohl wrote yesterday in a note to investors, stating that California is going to see an increase in natural gas power production over the next few years, and investors would be wise to gain additional exposure to natural gas infrastructure stocks in the Golden State. You can read his complete analysis here.

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