Closing Bell Movers: Solar stocks fall on tax credit threat

In the opening hour of the evening session, U.S. equity futures are down modestly – S&P 500 and Nasdaq 100 are  off by about 0.4% while Dow Industrials are down 0.3%.  In commodities, WTI Crude Oil is up 1.6% approaching $73 per barrel, while Gold and Silver are little changed.  Risk-off sentiment is flaring up again following President Trump’s post on Truth Social that “everyone in Tehran should evacuate immediately”, with investors increasingly weighing the possibility that U.S. military may get dragged into the Israel-Iran conflict. 

Earlier on Monday, stocks had bounced and oil fell despite the continued Middle East escalation – Communication Services and Tech were the best performing sectors on the S&P 500 while Utilities and Energy slipped.  Defense Contractors were some of the worst performing names on the index while Airlines and Cruise Lines advanced.  Also of note in the evening session, Solar names traded lower on Senate tax committee calls for solar/wind tax credit phase-out by 2028.

Check out this evening’s top movers from around Wall Street, compiled by The Fly.

HIGHER AFTER EARNINGS –

• Digital Turbine (APPS) up 9.2%
• Lennar (LEN) up 2.7%

ALSO HIGHER –

• BGSF (BGSF) up 56.7% after sale of Professional Division to Inspyr

ALSO LOWER –

• Solar names down sharply as Senate tax committee bill offers phase-out of solar/wind energy tax credit by 2028:  First Solar (FSLR) down 8.3%, Enphase (ENPH) down 16.2%, SunRun (RUN) down 27.4%, Solaredge Technologies (SEDG) down 21.6%
• Redwire (RDW) down 10.1% after equity offering
• MakeMyTrip (MMYT) down 8.4% after equity offering
• GeoVax Labs (GOVX) down 6.1% after equity offering
• Hippo Holdings (HIPO) down 1.9% after buyback of $14.5M in stock