Solar Stocks are rallying today after SunPower Corp. (
) released strong guidance in the pre-bell session, ahead of its
analyst day. SPWR shares were last up 8% at around $20.60, having
touched a 52-week high $22.38 today.
SPWR updated its FY13 earnings guidance to $0.60-0.80 for the
period, compared to the Capital IQ consensus earnings per share
estimate of $0.59. The company issued revenue guidance of $2.5-2.6
billion, compared to the consensus revenue estimate of $2.56
billion. SPWR also updated its Q2 guidance to $0.05-0.15 EPS and
revenue of $540 to $590 mln, vs. the Street view of a loss of
$$0.03 per share on revs of $519.5 mln.
Other solar stocks rallying include: Daqo New Energy (
) up 17.5%, SolarCity Corp. (
) up 2.1%, JA Solar Holdings Co. (
) up 6.5% and China Sunergy Co. (
) up 10%.
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