Stock Market Movers: First Solar, Motorola, Akamai Technologies

FSLR - First Solar, Inc. - Analysts at Barclays maintained an ‘equal weight’ rating on the manufacturer of solar modules today, but reduced the target share price to $150.00 from $160.00 citing weaker-than-expected third-quarter earnings. Meanwhile, FSLR’s target was slashed to $140.00 at Citigroup where FSLR is labeled as ‘hold’. Shares of First Solar are currently trading 17% lower to $125.64 despite reporting earnings of $1.79 per share that beat average expectations by about 5 cents. Option traders exchanged more than 40,000 contracts as of 10:15 am (EDT). Investors are initiating fresh call positions in the November contract at the November 125/130/140 strike prices.

MOT - Motorola, Inc. - Shares of the telecom company are soaring 9% higher to $8.68 after the firm posted its second consecutive quarter of positive profits. Positive guidance for the next quarter also helped lift shares as MOT forecast earnings of 7 to 9 cents per share. Option traders feasted on call options in the first 45 minutes of the trading session, exchanging more than 13 calls on the stock for each put option in play. Nearly 40,000 contracts changed hands on MOT as of 10:25 am (EDT).

AKAM - Akamai Technologies, Inc. - The provider of internet solutions and services posted third-quarter earnings of 38 cents per share, which exceeded average expectations of 35 cents per share. The stock is trading 11% higher to $22.39 as of 10:30 am (EDT). Early morning call activity could be the work of investors initiating bullish positions on the stock. Otherwise, traders are banking gains on the rally in shares.

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