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U.S. soldiers sit on an AH-64D Longbow Apache helicopter manufactured by Boeing Co.
Facebook's Arctic move
Facebook plans to build a large server farm in northern Sweden near the Arctic Circle, taking advantage of the chilly climate to keep its equipment cool, a Swedish newspaper reported Wednesday.
The Norrbottens Kuriren newspaper said the American social network will announce its plans today in Lulea, site of the operation, which is 60 miles south of the Arctic Circle. The paper cited Jan Fredriksson of Helm1 PR, a public relations agency that represents Facebook in Sweden.
EARNINGS
First Solar releases report early
First Solar surprised investors for the second time in as many days Wednesday, releasing its third-quarter earnings a week early after the sudden departure of its CEO sent the company's stock plunging 24 percent Tuesday.
If the early release was intended to halt the stock's slide, it was a shrewd decision. In the first hour of trading, shares rose 14 percent, cutting the previous day's losses in half even though the results from the third quarter demonstrated mostly how tough the market has become for U.S. solar companies.
First Solar's net income rose 11 percent to $196.5 million ($2.25 per share) from $176.9 million ($2.04) a year earlier. However, this year's net income got a $10 million bump thanks to a reduction in income tax expenses. Even then, profits were well below Wall Street expectations of $2.59 per share, according to a poll by FactSet.
The nation's largest solar company sharply reduced its per-share guidance as well, as was expected by many after the departure of CEO Rob Gillette. But it was clear that the bad news was not quite as bad as many investors had expected.
Revenue rose 26 percent, to $1 billion, matching Wall Street expectations.
First Solar shares rose $2.84, or 6.6 percent, to $46.11 in Nasdaq trading.
Boeing tops expectations
Boeing reported a $1.1 billion quarterly profit on Wednesday that beat expectations because of strong growth in its defense business.
The company's passenger jet profit grew more slowly and manufacturing problems have forced it to cut its forecast for deliveries of its two newest jets.
Investors focused on the positive third-quarter results, lifting Boeing Co.'s stock price 4 percent
The company's overall net income rose 31 percent from $837 million a year earlier. Profit of $1.46 per share rose from $1.12 per share. Analysts had expected a profit of $1.10 per share in the latest period.