LDK Raises Q3 Guidance, Stock Surges $LDK
LDK Solar (LDK) is surging higher in pre-market trading and lifting other solar stocks after it raised Q3 guidance. The company now expects revenues to come in at $610 – $640 million vsthe previous estimate of $570 – $600 million. They are also raisingshipments guidance on modules and wafers. The company expects to ship550 – 570MW in solar wafers and 80 – 90MW in solar modules whichcompares with the previous estimates of 520 – 550MW and 75 – 85MWrespectively.
Shares are up about 8% ahead of the bell. Technically, shares havecarved out a bullish pennant in recent weeks and it appears the stockwill break out of that formation this morning.
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