Wednesday, August 27, 2008

Solarfun: Not so much (SOLF)

The stock is trading at $17.01 down $1.93 (10.19%)
From RTT News:
Solarfun Power Drops In Pre-Market Following Quarterly Results
Following the release of quarterly results, Solarfun Power Holdings Co. Ltd. (SOLF: News ) is dropping during Wednesday's pre-market trading.

At 8:03 am ET the stock is trading at $17.70 down $1.19 from Tuesday's close.

With the decline, the stock stands to open below recent support and at its lowest level in a week.

The company reported net income of RMB 78.1 million for the second quarter, compared to RMB 20.2 million in the second quarter of 2007....MORE
Translated: They beat by a penny, $0.23 vs. consensus $0.22.