LDK Clouds Hang Over Solar Stocks (LDK, SOL, STP, TSL, CSIQ, JKS, JASO)
Shares of Chinese solar firm LDK Solar Company (LDK) are plunging 5% after the company slashed its first-quarter revenue forecast to $745-$755 million from $800-$850 million while also paring its forecast for solar wafer sales in the quarter. LDK now expects sales of 625-635 megawatts, below the 610-660 MW the firm previously forecast.
Solar module sales would also fall short and were now seen between 109 to 114 MW, down from the previous range of 120 to 140 MW, according to Reuters. While LDK stuck by its full-year revenue guidance of $3.5-$3.7 billion, that isn’t enough to help the Solar Stocks Index, which is down 1%.
LDK did note that orders in the first quarter outpaced what the company saw a year earlier and added that it expects polysilicon prices to increase. Despite the bullish sentiment, several of LDK’s rivals are following the company lower.
Investors can track the Solar Stocks Index for performance trends and a suite of other metrics at tickerspy.com.
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