The markets traded higher during the midday with the Dow gaining 50 points to 15,386 ahead of Federal Reserve chairman Ben Bernanke’s testimony before Congress tomorrow. Nasdaq rose 6 points to 3502.
On the upside
Lux Research analyst Ed Cahill expects the oversupply of photovoltaic modules to end by 2015 with revenue soaring to $155 billion in 2018. Shares of LDK Solar (NYSE: LDK), Renesola (NYSE: SOL) and Trina Solar (NYSE: TSL) rose.
First quarter earnings slipped for Saks (NYSE: SKS) but same store sales rose more than expected.
Shares of SemiLEDS (Nasdaq: LEDS) climbed after IMS Research reported that global revenue for LEDs in general lighting applications would surge more than threefold from 2012 to 2015.
On the downside
Profit taking sank shares of Real Goods Solar (Nasdaq: RSOL).
Best Buy (NYSE: BBY) blamed restructuring costs for falling to a first quarter loss.
hhgregg (NYSE: HGG) reported sharply lower fourth quarter earnings as revenue fell.
In the broad market, advancing issues were on par with decliners on both the NYSE and on Nasdaq. The broader S&P 500 index rose 3 points to 1670.
