These 10 Firms Were Battered by Dismal Earnings, Outlook Guidance

4. First Solar, Inc. (NASDAQ:FSLR)

First Solar extended its losing streak for a third straight day on Wednesday, shedding 8.32 percent to finish at $125.82 apiece as investors sold off positions following a plunge in net earnings performance in the first quarter of the year.

In its latest earnings release, First Solar, Inc. (NASDAQ:FSLR) said that its net income fell by 11 percent to $209.5 million from $236.6 million in the same period a year earlier, while net sales rose by 6 percent to $844 million from $794 million year-on-year.

Additionally, the company’s lowered growth outlook for the rest of the year helped drag down investor sentiment.

Amid the ongoing market uncertainties, First Solar, Inc. (NASDAQ:FSLR) said it is now projecting net sales to settle between $4.5 billion and $5.5 billion, lower than the $5.3 billion to $5.8 billion target previously.

Expected diluted earnings per share were also reduced to between $12.50 and $17.50 from the $17 to $20 previously.