Wednesday, March 5, 2008

Solar Companies Catch Some Rays

From the WSJ's MarketBeat blog:
It’s another big day for solar-related stocks, buoyed today by a strong earnings report out of Canadian Solar, which exceeded expectations in its fourth quarter thanks to strong sales in Europe. The other names in the space are rallying today, but it’s been a tough year for this sector so far, after a fruitful 2007 that saw outstanding gains for the sector.

Canadian Solar, which does most of its work in China, was up 11.4% on the day, while JA Solar Holdings was up 10%. Solar companies that manufacture in China, which also include LDK Solar and Suntech Power Holdings, have been hurt of late because of severe weather in that nation. Canadian Solar today said first-quarter revenue is expected to fall in a range of $150 million to $155 million, lower than original projections, because of the storms....MORE

They have a 'spaghetti' chart!