More Uncertainty Weighs On Solar Stocks Today
Modern Energy Roundup - March 19, 2012
By Jeff Siegel
Monday, March 19th, 2012
- LDK Solar (NYSE:LDK) announced this morning that it lowered the top end of its Q4 revenue guidance, noting that gross margins would be negatively affected by falling market prices for wafers and modules. Q4 revenues are expected to come in at around $440 million to $450 million. Previous forecast was $440 million to $520 million. Analysts are expecting about $432 million. LDK is down about 3.6% in premarket. If pressure continues throughout the day, it may also weigh heavily on other key solar players today.
- India's renewable energy ministry announced that it's seeking to extend a tax break for wind farms. India is currently the third largest market for wind turbines. If approved, Vestas (PINK SHEETS:VWDRY) and GE (NYSE:GE) will likely benefit as both have some decent skin in India's wind game. And of course, India-based Suzlon will benefit as well.
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