Solar Sector Dims as Crude Falls, LDK Issues Downside Q2 Outlook (LDK, FSLR, TAN, more)

Shares of LDK Solar (NYSE: LDK) are bringing down the entire solar sector today following a concerning Q2 outlook issued after the close on Thursday. LDK's stock most recently traded at $9.83, down nearly 10% from last week's close.

LDK said it expects to see Q2 sales around $215-$225 million, which is well below the $247.2 million analysts had been looking for. The company also raised its Q2 shipments outlook from 200-200 MW to 220-230 MW, but traders are shrugging off this news today, focusing instead on the downside revenue guidance.

The sector is also moving lower on the back of a sharp sell-off in crude oil prices. The commodity most recently traded around $64.38, down about 3.5% from last week's close.

Elsewhere in the solar sector:

• First Solar (Nasdaq: FSLR) down 5.5% to $145.67
  
• Yingli Green Energy (NYSE: YGE) down 10.7% to $12.38
  
• Canadian Solar (Nasdaq: CSIQ) down 9.2% to $10.91
  
• JA Solar (Nasdaq: JASO) down 7.8% to $4.03
  
• MEMC Electronic Materials (NYSE: WFR) down 7.5% to $16.17
  
• SunPower (Nasdaq: SPWRA) down 7.7% to $24.20
  
• Suntech (NYSE: STP) down 8% to $16.90

The Claymore/MAC Global Solar Index (NYSE: TAN), a popular solar ETF, has fallen more than 6% today.

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