Today’s market was a strong one, the S&P and the Dow Jones both managed to hit record highs, while Nasdaq gained a fraction. The big news on today’s market was in energy, however, with Solar Power taking a dive and at least one oil company making strong gains. Today’s big movers were Mercadolibre Inc (NASDAQ:MELI), First Solar, Inc. (NASDAQ:FSLR), PetroChina Company Limited (NYSE:PTR), SolarCity Corp (NYSE:SCTY) and Arena Pharmaceuticals, Inc. (NASDAQ:ARNA).

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Mercadolibre Inc (NASDAQ:MELI): The Latin American e-commerce platform was one of the top performers on today’s market, gaining 17.88 percent to finish the day at $122.54. The company’s shares boomed on its first quarter earnings report and the company managed to record an all time high in its stock price earlier today. Latin American tech companies are often undervalued because of their lack of coverage, but not so for Mercadolibre Inc (NASDAQ:MELI) on Tuesday’s trading.

Mercadolibre Inc (NASDAQ:MELI) recorded earnings per share of 53 cents for the first three months of 2013, on revenue of $102.7 million. In the lead up to the announcement of the results analysts were expecting earnings of 54 cents per share on revenue of $97.7 million. In the first three months of 2012, the company managed revenue of just $83.7 million.

First Solar, Inc. (NASDAQ:FSLR): The Solar industry took a battering today, and First Solar, Inc. (NASDAQ:FSLR) was no exception. The company lost 8.85 percent of its value on today’s market and it finished today’s trading at a price of $43.47, after opening Tuesday at $46.62. The culprit behind the fall in the company’s stock, and that of other firms in the industry, appears to have been the company’s first quarter earnings report.

Earlier today First Solar, Inc. (NASDAQ:FSLR) revealed that it had earned 69 cents per share in the first three months of 2013 on revenues of $755 million. The firm’s earnings fell short of the expectations of the market. The fall in value appears more related to the incredible gains the stock made in anticipation of its first quarter results. In the first months of 2013, the stock is still ahead well over 30 percent. The weight of expectation crushed the firm on poor earnings.

SolarCity Corp (NYSE:SCTY): Another big performer in the solar industry lost a run on itself this morning after the First Solar results were announced. SolarCity Corp (NYSE:SCTY) shares lost 10.48 percent of their value on today’s market, and finished the day’s trading at $23.66 per share. The culprit appears to have been a general distaste for the solar industry.

SolarCity Corp (NYSE:SCTY) had its initial public offering last December and it is still doing incredibly well despite today’s losses. The company’s shares have risen by around 100 percent since its IPO date. SolarCity Corp (NYSE:SCTY) benefits from the backing of renowned innovator Elon Musk, among other assets, so the deflation of a small solar bubble today will do little to affect the future of the firm.

PetroChina Company Limited (NYSE:PTR): Picking up on losses in the solar industry, PetroChina Company Limited (NYSE:PTR) gained 2.16 percent on today’s market to close the day at $128.92 per share. The company’s earnings report, which it revealed some days age, caused a slump in the firm’s value in recent trading.

In antipathy to the fall in solar stocks, the gains in PetroChina Company Limited (NYSE:PTR) may have something to do with the poor performance of the equity in the early months of 2013. The company’s stock has lost more than 10 percent of its value since the beginning of the year, and with a P/E multiple of just under 13, investors seem willing to call something of a bottom around the current price of the shares.

PetroChina Company Limited (NYSE:PTR) might have to do something drastic in order to correct its course and bring about growth in its value. In the last year the firm has lost nearly 10 percent of its share value, and there’s little sign of things getting better for shareholders.

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA): A strong gainer on today’s market, this time from the pharmaceuticals industry, was Arena Pharmaceuticals, Inc. (NASDAQ:ARNA). The company’s shares increased 10.90 percent on today’s market to close the day at $8.34 per share. Shares seemed to be recovering today after what the market appears to have judged an overreaction to the company’s earnings report, which was released yesterday.

So far in 2013 Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) investors have had a bit of a roller coaster ride. The company’s stock spiked in January before quickly deflating and gently slumping in the months that followed. Through the year so far, the company’s stock has lost more than 6 percent of its value, including today’s gains. The stock chart is indicative of a company involved in new drug research an testing. It’s a risky business, but the rewards are high if they do pay off.