Suntech Power (STP) Sinks On Results/Guidance, Takes Other Solar Names Lower
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Shares of Suntech Power (NYSE: STP) are down nearly 20% in pre-open trading following disappointing Q4 results and guidance.
Suntech Power reported Q4 EPS of $0.34, ex-items, below the consensus of $0.36. Revenues came in at $397.5 million, versus the consensus of $420 million.
Suntech sees Q1 revenues of $370-$380 million, versus the consensus of $457 million.
Suntech sees FY08 revenues of $1.9-$2.1 billion, versus the consensus of $2.26 billion.
The negative Suntech news is also hurting other solar stocks this morning: First Solar, Inc. (Nasdaq: FSLR) is down 2.3%, SunPower (Nasdaq: SPWR) is down 6%, LDK Solar (NYSE: LDK) is down 7.8%, Evergreen Solar (Nasdaq: ESLR) is down 3.7%, JA Solar (Nasdaq: JASO) is down 6.5%.
Suntech Power reported Q4 EPS of $0.34, ex-items, below the consensus of $0.36. Revenues came in at $397.5 million, versus the consensus of $420 million.
Suntech sees Q1 revenues of $370-$380 million, versus the consensus of $457 million.
Suntech sees FY08 revenues of $1.9-$2.1 billion, versus the consensus of $2.26 billion.
The negative Suntech news is also hurting other solar stocks this morning: First Solar, Inc. (Nasdaq: FSLR) is down 2.3%, SunPower (Nasdaq: SPWR) is down 6%, LDK Solar (NYSE: LDK) is down 7.8%, Evergreen Solar (Nasdaq: ESLR) is down 3.7%, JA Solar (Nasdaq: JASO) is down 6.5%.
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