Tech Firms Turn to Debt

A growing number of technology companies are turning to debt to raise capital, taking advantage of the thawing credit markets to build their war chests in anticipation of a wave of dealmaking. Software companies including SAP AG, Adobe Systems Inc. and Salesforce.com Inc. have recently raised several billion dollars by selling debt for the first time in their histories.

First Solar: Are Their Customers Piling Up Inventory?

Jonathan Hoopes of ThinkEquity concluded this morning that major customers of First Solar are sitting on what could be substantial inventory in their warehouses. Since it’s unlikely that impediments to solar market growth are lifting any time soon, or that said inventory’s going anywhere fast, he cut his price target from $175 to $105, and his estimated EPS for both 2009 and 2010.