After falling by 8.5% on Monday, First Solar (FSLR) is among Tuesday’s stock trades. SolarEdge Technologies (SEDG), which fell 15.36%, announced that it would cut 400 jobs. This is the second round of layoffs.
SolarEdge needs to restore profitability by cutting staff. CEO Zvi Lando said that the downturn in the solar market started at the end of 2023. Revenue fell and inventory rose as a result. On June 26, the firm issued a $300 million convertible senior notes offering. This dilutes shareholders in the long run.
In the mergers and acquisition segment, Macy’s plunged by almost 12% on Monday. The retailer failed to negotiate an agreeable deal with Arkhouse’s and Brigade’s. Value investors may pick up M stock today at a discount. Watch Nordstrom (JWN), Dillard’s (DDS), and Kohl’s (KSS) today, too. Trades may play the short-lived rebound, and then sell to exit the retail sector. Macy’s had a good chance to sell itself for $24.80 per share. The stock closed at $16.85.
AES (AES) is trending sharply lower since peaking at $22.00 in May. The utility firm trades at fair value, so it does not have much rebound potential today. Investors may also consider AES’s peers, such as Talen (TLN), Vistra (VST), and Central Puerto (CEPU).
