S&P 500
7,615.40
-0.09%
Dow Jones
51,321.50
-0.10%
Nasdaq 100
30,653.20
-0.20%
Russell 2000
2,931.58
-0.05%
FTSE 100
10,377.00
-0.11%
Nikkei 225
68,476.70
+1.44%

Energy

MEMC Loses CFO, Stock Hammered

Photo of Paul Ausick
By Paul Ausick Published

Invalid Image
Given the company’s horrible showing for the first quarter, the last thing MEMC Electronic Materials Inc. (NYSE: WFR) needed was to have a management shake-up. But that’s what the solar wafer maker got last night, when the company announced that its CFO was leaving MEMC to return to his previous firm, Praxair Inc. (NYSE: PX) as President of Praxair’s Surface Technology division.

MEMC named Brian Wuebbels as its new CFO. Wuebbels has been with MEMC in various roles since 2007. His previous experience came at Honeywell International Inc. (NYSE: HON) and General Electric Co. (NYSE: GE).

Investors are treating the switch as yet another signal that MEMC is a sinking ship. Shares are off more than -18%, at $1.74 after posting a new 52-week low of $1.67 earlier. The previous range was $2.07-$10.64. After the announcement last night shares only fell by a penny. That situation changed fast this morning.

Paul Ausick

Follow 24/7 Wall St. on Google
Photo of Paul Ausick
About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

Continue Reading

Jon C. Ogg |

After CFO Departure… How Long Can MEMC Survive?

MEMC Electronic Materials Inc. (NYSE: WFR) is at a point where a turnaround analysis and a valuation analysis just no…

Jon C. Ogg |

Top Active Trader Alert Stocks (BP, CGNX, CCUR, OFC, ESLR, MPEL, WFR, MVIS, NTRI, TEAM)

Active traders and day traders have many stocks to choose from this Tuesday morning.  We are tracking news and moves…

Jon C. Ogg |

Top Active Trader Alert Stocks (CLDX, GYMB, GERN, WFR, MXL, SIRI, TLB)

Active traders and day traders have many stocks to choose from this morning.  We are tracking moves in Celldex Therapeutics,…

Jon C. Ogg |

MEMC Comes Clean on Earnings (WFR)

The solar sector has been in the tank, and semiconductor outfits have been handing out earnings and revenue warnings galore.  So,…

Paul Ausick |

Tesla, SolarCity: Alternative Energy Plays Headed in Different Directions

ThinkstockShortly after the opening bell this morning, Tesla Motors Inc. (NASDAQ: TSLA) posted an all-time intra-day high of $97.12, at…

Paul Ausick |

Solar Industry Takes Another Blow (WFR, FSLR, SPWR, STP, YGE)

One piece of the solar industry that has taken a bigger hit to prices than the panel makers, it’s the…

Jon C. Ogg |

JA Solar & MEMC Ink Solar Joint Venture (JASO, WFR)

JA Solar Holdings Co., Ltd. (NASDAQ: JASO) and MEMC Electronic Materials Inc. (NYSE: WFR) are offering some positive support to…

Jon C. Ogg |

Earnings… Confusion Reigns at MEMC (WFR)

MEMC Electronic Materials, Inc. (NYSE: WFR) is one of those companies which seems to be just stuck between a rock…

Paul Ausick |

MEMC Soars on Earnings, Revenue, Decent Forecast (WFR, FSLR, SPWR, TSL)

MEMC Electronic Materials Inc. (NYSE: WFR) reported second-quarter adjusted earnings per share (EPS) of $0.14 and $933.4 million in revenue…

Top Gaining Stocks

Hewlett Packard Enterprise
HPE • Vol: 153,197,465
Enphase Energy
ENPH • Vol: 8,360,053
Corning
GLW • Vol: 18,152,646
Alexandria Real Estate Equities
ARE • Vol: 4,337,015
Aptiv
APTV • Vol: 6,761,325

Top Losing Stocks

Trade Desk
TTD • Vol: 21,905,513
Intuit
INTU • Vol: 7,383,018
Coterra Energy
CTRA • Vol: 73,319,495
Cboe Global Markets
CBOE • Vol: 5,000,011
HP
HPQ • Vol: 29,259,826