Wednesday, February 20, 2008

Suntech Falls In Pre-Market On Q4 EPS, Smacks Group (STP; FSLR; LDK)

From RTT News:

Suntech (STP) tumbled in pre-market trading, slipping about 16 percent. The drop came as the company reported its fourth-quarter earnings and provided its first-quarter and 2008 fiscal year outlook.

The stock was down $7.64 around 8:00 am ET, sliding to $38.02. If pre-market losses hold, the stock will open at its lowest level since early October.

Suntech announced that fourth-quarter net income was $50.6 million, or $0.29 per American depository share, or ADS, up from $31.4 million or $0.20 per ADS in the prior year quarter....MORE