The stock markets have been shaky lately, easily turning up and down according to any news that is released related to oil, the eurozone debt crisis, or the national economy.
On Thursday, however, good news came from the eurozone, and equities had a positive response – the Dow and S&P 500 both went up a notable amount, reports Wall St. Cheat Sheet.
And with these boosts came a positive trend in the solar market.
First Solar (NASDAQ: FSLR), according to the article, jumped 14%, and it rose again 0.9% on Friday to $53.57.
This could have been largely due to the release of 3rd quarter earnings, the article reports, which showed First Solar net income went from $176.9 million last year to $196.5 million.
Suntech Power Holdings (NYSE: STP) also benefited from this market boost. It was up 30% according to the article, and on Friday it rose another 5% to $3.36.
LDK Solar (NYSE: LDK), a Chinese solar company, saw a huge jump as well.
This solar wafer company was up 22% on Thursday according to Wall St. Cheat Sheet’s report. On Friday, it jumped another 10.6% to $4.48.
And Yingli Green Energy Holding (NYSE: YGE) managed to rise as well, up 16%. This, the article reports, was very surprising, considering the company had just been downgraded to Neutral by Collins Stewart.
On Friday, it was up again 7.5% to $4.86.
The solar industry has been on some shaky ground lately, but companies are pulling their weight and managing to stay positive despite competitive pricing.
It’s becoming a survival of the fittest, and Solyndra was weeded out this summer, but those that can hold on will certainly come out stronger in the end.
That’s all for now,