Applied Materials stock up on $1.9 Billion solar power deal

[jpak]

http://washington.bizjournals.com/sanjose/stories/2008/03/03/daily25.html

Applied Materials Inc. shares rose more than 7 percent on Tuesday after the company revealed it has $1.9 billion in agreements for solar factory equipment outside the United States.

Santa Clara-based Applied Materials (NASDAQ:AMAT) said in an SEC filing that it has agreed to supply and install equipment for "multiple solar factories" for an unnamed private corporation based outside the United States.

Gitigroup analyst Timothy Arcuri wrote in a research note that the deal is "about five times larger" than any similar order for the company and that it involves a major project in Suzhou, China.

<not much more>

Edit: why can't these jobs be created in the US??