By Tim - http://daytradingstockblog.blogspot.com
Shares of LDK Solar Co., Ltd. (LDK) are on fire today and are leading the solar stock sector higher. LDK Solar Co Ltd. is hitting a new 52 week high at $11.28 after the company upped guidance Q3 of 2010.
LDK Solar Raises Outlook for Third Quarter of 2010
LDK Solar Co., Ltd. ("LDK Solar") (NYSE: LDK), a leading manufacturer of multicrystalline solar wafers and PV products, today provided an updated outlook for its third quarter 2010 financial results. For the third quarter of 2010, LDK Solar expects to report revenue in the range of $610 to$640 million, wafer shipments of 550 to 570 megawatts (MW), and module shipments of 80 MW to 90 MW. The Company`s prior guidance for the third quarter was revenue of $570 to $600 million, wafer shipments of 520 to 550 MW, and module shipments of 75 to 85 MW.
At the end of September 2010, LDK Solar`s manufacturing capacity reached, as previously planned,11,000 MT in polysilicon, 2.6 gigawatts (GW) in wafers, 120 MW in cells, and 760 MW in modules. As of the end of the third quarter, cash balances, including pledged bank deposits, were approximately $800 million. Full Article
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