MW: First Solar cuts, oil prices push up energy stocks
By Jim Jelter
SAN FRANCISCO (MarketWatch) -- Energy stocks got a boost Tuesday from the traditional and alternative sides of the market. First Solar shares rose as much as 2% at the open after the sun power company announced plans to shut several of its manufacturing facilities and slash its global workforce by 30%. Meanwhile, crude-oil prices rose again, with the May futures contract up $1.66 to $104.59 a barrel in New York. The moved helped lift the NYSE Arca Oil Index XX:XOI +1.18% 1%, with refiner Valero Energy Corp. VLO +2.09% topping percentage gainers in the group on a 1.9% advance to $23.81 a share. Shares of Spain's Repsol slipped 2.5% as the company faces nationalization of Agentina's YPF S.A. YPF 0.00% , in which Repsol is currently the majority shareholder.
