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First Solar, Inc. (NASDAQ:FSLR), the larges maker of thin-film panels in the world, stated that its profit surged 81 percent after it recognized revenue for selling power plants, this validates a strategic shift the construction of solar farms using its modules. Net income totaled $111 million, or $1.27 a share, compared with $61.1 million, or 70 cents, the previous year, the Tempe, Arizona-based company claimed in a statement yesterday. Excluding restructuring charges, earnings were $1.65 a share, which is 71 cents higher than the average of 27 analysts’ estimates compiled by Bloomberg. Shares of First Solar, Inc. are trading 28.99% higher today.
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Abercrombie & Fitch Co. (NYSE:ANF), the teen retailer with over 1,000 stores, fell in pre-market trading following the reduction of its annual forecast yesterday, blaming an anticipated drop in same-store sales in the second half of 2012. The New Albany, Ohio-based company fell 13 percent to $29.50 at 8:30 a.m. in New York. The operator of namesake and Hollister stores had lost 30 percent this year through yesterday. Aeropostale Inc. (NYSE:ARO) (ARO), Abercrombie’s smaller rival, plummeted as much as 29 percent today after reporting preliminary second-quarter profit that was lower than forecast. Shares of Abercrombie & Fitch Co. are trading 15.17% lower today.
General Motors Company (NYSE:GM) Europe reported a Q2 EBIT-adjusted loss totaling $0.4 billion, in comparison to EBIT-adjusted of $0.1 billion during Q2 of 2011. GM’s CEO Dan Akerson said, “Our results in North America, our International Operations and at GM Financial were solid but we clearly have more work to do to offset the headwinds we face, especially in regions like Europe and South America.” Despite the challenging environment, GM has now achieved 10 consecutive quarters of profitability, a milestone the company has not achieved in over a decade. Shares of General Motors Company are trading 2.24% lower today.
Kellogg Company (NYSE:K) reports that its Q2 North America internal net sales increased 3.9 percent. North America reported net sales increased 5.9 percent to $2.4 billion. International net sales of $1.1 billion fell 3.8 percent. Shares of Kellogg Company are trading 2.93% higher today.
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