Congress is Investigating Solar Companies

Barron’s is reporting today that House Republicans are expanding their investigation of Solyndra to include other solar power companies, including First Solar (NASDAQ:FSLR) and SunPower (NASDAQ:SPWRA).

Observers are claiming that the Republicans’ investigation is a response to Obama’s recent statement in support of federal funding for alternative energy projects.

Solyndra Sparks Criticism Over Government Subsidizing Green Energy>>

Shares of the two companies are trading down today.  Following is some information on the companies’ stock price performance.

  • First Solar (NASDAQ:FSLR): The shares recently traded at $55.14, down $1.94, or 3.4%, on the day.  The shares have traded in a 52-week range of $53.05 to $175.45 and its market capitalization is $4.76 billion.  About the company: First Solar, Inc. designs and manufactures solar modules.  The Company uses a thin film semiconductor technology to manufacture electricity-producing solar modules.
  • SunPower Corporation (NASDAQ:SPWRA): The shares recently traded at $8.02, down $0.45, or 5.26%, on the day.  The shares have traded in a 52-week range of $6.60 to $23.36 and its market capitalization is $803.33 million. About the company: SunPower Corporation is an integrated solar products and services company that designs, manufactures and markets high-performance solar electric power technologies.

(Note: Selected financial data are sourced from Google Finance.  All data are assumed to be accurate.)

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