Solar Stocks Tanking on Q-Cells Warning (FSLR, SPWRA, LDK, more..)
Solar stocks are nosediving today on the back of a guidance warning at Q-Cells, a German solar company which happens to be the world's largest maker of solar cells. Q-Cells lowered its CY08 and CY09 shipment, sales and EPS outlook, citing order delays/cancellations and a consistently weakening demand.
The news is extremely concerning as many solar players previously believed that Germany was not as exposed to the global credit crunch as other popular solar markets, such as Spain. With Q-Cells coming out and warning about production levels next year, however, solar companies with exposure to Germany may now be forced to cut production also.
Here's how some solar stocks are performing today:
- First Solar (Nasdaq: FSLR) down 10.7% to $120.42
- SunPower (Nasdaq: SPWRA) down 10% to $31.38
- JA Solar (Nasdaq: JASO) down 9.6% to $3.00
- LDK Solar (NYSE: LDK) down 10.7% to $12.06
- Suntech (NYSE: STP) down 14% to $8.64
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