First Solar Shares Dive on CEO Resignation

Shares of solar power company First Solar (NASDAQ:FSLR) dove this afternoon after the company suddenly announced the resignation of its CEO, Rob Gillette.  The founder and chairman, Mike Ahearn, was named to replace him.

The company issued a terse statement: “Effective immediately, Rob Gillette is no longer serving as chief executive officer.”

Following is some information about the company’s stock price performance, along with that of some of its competitors.

  • First Solar, Inc. (NASDAQ:FSLR): The shares recently traded at $45.42, down $12.56, or 21.67%, on the day.  The shares have traded in a 52-week range of $43.71 to $175.45 and its market capitalization is $3.95 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 $9.20, down $0.84, or 8.37%, on the day.  The shares have traded in a 52-week range of $6.60 to $23.36 and its market capitalization is $921.52 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.
  • Suntech Power Holdings (NYSE:STP): The shares recently traded at $2.36, down $0.07, or 2.88%, on the day.  The shares have traded in a 52-week range of $1.70 to $10.83 and its market capitalization is $451.15 million.  About the company: Suntech Power Holdings Company Ltd produces solar cells.  The Company designs, develops, manufactures and markets a variety of photovoltaic cells and modules.  Suntech Power is based in China.
  • Trina Solar Limited (NYSE:TSL): The shares recently traded at $7.49, down $0.35, or 4.46%, on the day.  The shares have traded in a 52-week range of $5.28 to $31.08 and its market capitalization is $593.91 million.  About the company: Trina Solar Limited manufactures solar-power products including photovoltaic wafers, ingots, cells, and modules.  The Company’s solar modules provide environmentally-friendly electric power for residential, commercial, industrial, and other applications worldwide.
  • LDK Solar Co., Ltd. (NYSE:LDK): The shares recently traded at $3.21, down $0.12, or 3.6%, on the day.  The shares have traded i a 52-week range of $2.55 to $15.10 and its market capitalization is $465.33 million.  About the company: LDK Solar Company, Ltd. manufactures multicrystalline solar wafers.  The Company sells multicrystalline wafers globally to manufacturers of photovoltaic products including solar cells and solar modules.  Solar wafers are the principal raw material used to produce solar cells which convert sunlight into electricity.

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

Advantage: Check out our interactive stock charts, fundamentals, Twitter stream, and more >>

Improve Your 2011 Financial Health: Join the winning team of stock pickers with Wall St. Cheat Sheet’s acclaimed premium newsletter>>

More from The Cheat Sheet