BREAKING: SOLAR JUST WENT ELMER FUDD ON BEARS

Wow. Massive melt up is underway, thanks to huge guidance offered by FSLR. Needless to say, solar is back.

First Solar isses upside FY13 EPS and rev guidance; sees FY14 EPS in line; sees FY14 revs above consensus; sees FY15 EPS above consensus; sees FY15 revs above consensus

• Co issues upside guidance for FY13 (Dec), sees EPS of $4.00-4.50 vs. $3.60 Capital IQ Consensus Estimate; sees FY13 (Dec) revs of $3.8-4.0 bln vs. $3.21 bln Capital IQ Consensus Estimate.
• Co issues guidance for FY14 (Dec), sees EPS of $2.50-4.00 vs. $3.26 Capital IQ Consensus Estimate; sees FY14 (Dec) revs of $3.5-4.0 bln vs. $3.42 bln Capital IQ Consensus Estimate.
• Co issues guidance for FY15; sees EPS of $4.00-6.00 versus $3.61 Capital IQ cosnensus; sees revs of $4.2-4.8 bln versus $3.66 bln consensus
• Co sees FY14 Module Shipments between 1.8-2.2 GW; Co sees FY15 Module Shipments of 2.3 to 2.7GW
• For 2013, First Solar expects total module shipments to be between 1.6GW and 1.8GW and net sales of $3.8 and $4.0 billion, including approximately $3.6 billion in net sales from systems sales. Consolidated gross margin is expected to be between 20 and 22 percent. Excluding up to $10 million in restructuring expense as previously announced, diluted EPS is expected to be between $4.00 and $4.50, and consolidated operating income is expected to be between $430 and $460 million. The Company expects to generate $0.8 to $1.0 billion of operating cash flow and plans for approximately $350 to $400 million in capital expenditures in 2013.

The move triggered circuit breakers, halting shares of FSLR, +38% for the day.

Conveniently, I am long GTAT at the time of this event.

#TIMEMACHINE