First Solar shines after UBS says new tax guidance brightens clean energy outlook

First Solar shares jumped 9% Monday after UBS named the solar panel maker a top pick, pointing to fresh IRS guidance that largely preserved 2030 tax credits for the industry. The decision clears a cloud that’s hung over the solar sector for more than a year.

UBS analysts said demand for US utility-scale solar projects is outpacing supply, fueled in part by Big Tech’s build-out of AI data centers with 100% clean energy targets. Analysts now see First Solar’s adjusted earnings growing to $32 per share by 2027, up from $12 per share last year.

The rally adds to momentum from earlier this month, when First Solar topped Q2 estimates and raised its full-year outlook. Rival Sunrun was also up about 8.4% Monday afternoon on the news and recently beat the Street’s forecasts amid record energy storage demand.

First Solar shares are now up 19% year to date.

More Markets

See all Markets

J. Edward Moreno53m

Constellation Brands earnings report beats Wall Street estimates

Constellation Brands ticked up in after-hours trading after it reported earnings results that beat Wall Street expectations.

Constellation, which owns a variety of booze brands including Modelo Especial in the US, reported quarterly adjusted earnings per share of $3.63, higher than the $3.38 analysts polled by FactSet were expecting.

It also reported $2.48 billion in revenue, slightly above the $2.45 billion the Street was expecting.

The company slashed its full-year guidance last month, reducing its fiscal 2026 adjusted earnings-per-share outlook to $11.30 to $11.60, down from its previous range of $12.60 to $12.90. Analysts are penciling in $11.49 adjusted earnings per share for the fiscal year.

The company left that guidance unchanged.

Despite owning one of the United States’ most-sold beers, Constellation is facing various headwinds ranging from declining beer consumption and pressure on Hispanic consumers.

Tasha Matsumoto

The S&P 500, Nasdaq 100, and Russell 2000 all post fresh closing highs

Gold and bitcoin also moved higher.

Chicago Bulls Dennis Rodman (91), Scottie Pippen (33) and Michael Jordan (23) during game vs Miami Heat. Miami, FL 2/23/1996

Luke Kawa1h

AppLovin craters after Bloomberg report that the SEC is investigating its data collection practices

What AppLovin CEO Adam Foroughi said would be “a fun quarter” is turning unfun in a hurry.

Shares of the adtech company tumbled after Bloomberg reported that the company’s data collection practices are the subject of an SEC probe, in particular, whether it violated service agreements in a bid to push higher volumes of targeted advertisements.

Citing people familiar, Bloomberg says the investigation is in response to a whistleblower complaint as well as reports from short sellers, some of which were published in February.

It’s getting pretty tough keeping all these AI deals straight

Where is all this money supposed to come from? And who gets to keep it?

Matt Phillips2h

Max Knoblauch3h

Archer surges on speculation that Tesla’s announcement has something to do with them

Shares of air taxi maker Archer Aviation rose more than 16% on Monday afternoon amid speculation that the company is somehow involved in an October 7 announcement Tesla has been teasing.

The latest speculation appears to revolve around the inclusion of a Tesla Optimus robot and vehicle alongside Archer’s Midnight air taxi in a video Archer posted on X last week. On Sunday, the Tesla X account uploaded a video featuring its logo on a spinning wheel or propeller, leading some to further connect tomorrow’s announcement to the EVTOL industry.

Archer is prone to big swings — the stock has closed up or down 10% 29 times in the past twelve months. Monday’s move propelled the stock to its highest level since July. Archer rival Joby Aviation was also up more than 6% on the day.

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.