First Solar (FSLR) Pops, Chinese Solar Sector Stocks Down

May 17, 2012 2:41 PM EDT
Solar sector stocks are accelerating to the upside after the U.S. set preliminary duties of 31.22 on Chinese solar imports. Shares of First Solar (Nasdaq: FSLR) are up 7 percent in late trading on Thursday.

Any anti-dumping tariffs would be in addition to anti-subsidy tariffs of 2.9 percent to 4.73 percent that the department imposed in March on solar panels from China. The Chinese companies have denied dumping or receiving export subsidies from the Chinese government, reports the New York Times

The ruling effectively accuses Chinese solar companies of dumping in the U.S.

Guggenheim Solar ETF (NYSE: TAN) is trending sideways on the news, as the ruling clearly favors U.S. companies at the expense of Chinese ones.

SunPower Corporation (Nasdaq: SPWR) Up 12.2%
Yingli Green Energy Holding Co. Ltd. (NYSE: YGE) Down 10.6%
ReneSola Ltd. (NYSE: SOL) Down 6.6%
First Solar (Nasdaq: FSLR) +5%
LDK Solar Co., Ltd. (NYSE: LDK) Down 4.5%
JA Solar Holdings Co., Ltd. (Nasdaq: JASO) UP 2.4%
Trina Solar Limited (NYSE: TSL) -2.9%
Suntech Power Holdings Co. Ltd. (NYSE: STP) Down 1.3%

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