Tech Business Roundup: Solars Flip Flop, HP Job Cut Chatter
MEMC Electronic Materials, Inc. (NYSE:WFR) shares have fallen Thursday to levels last visited in 2001. Last week’s poor guidance released by the solar wafer/polysilicon supplier, that accompanied its first quarter post, has ignited new worries concerning the firm’s long term survival.
There is ambiguity surrounding Hewlett-Packard’s (NYSE:HPQ) intentions to cut jobs out of its workforce. Prior projections had the range at between 10 and 15 percent, but on Thursday a Bloomberg report said that 25,000 positions would be slashed, which represents a bit over 7 percent.
Shares of First Solar (NASDAQ:FSLR) and SunPower (NASDAQ:SPWR) pop following word that the United States government has smacked solar imports from China with anti-dumping tariffs of 31 to 250 percent, according to a source to Bloomberg. The duties derive from an inquiry into whether companies in China, using government subsidies, sold their mobiles below cost to eliminate competition. In the meantime, news comes from Reuters that Apple will utilize SunPower solar modules to power its data center in Maiden NC, outside of Charlotte. Apple’s solar farm, which also uses renewable systems from startup Bloom Energy, will supply some 84 million kilowatt hours of energy per year.
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