SECTOR UPDATE: Solar Stocks Rally After SunPower Boosts Guidance

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Solar Stocks are rallying today after SunPower Corp. ( SPWR ) 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 ( DQ ) up 17.5%, SolarCity Corp. ( SCTY ) up 2.1%, JA Solar Holdings Co. ( JASO ) up 6.5% and China Sunergy Co. ( CSUN ) up 10%.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: CSUN , DQ , JASO , SCTY , SPWR

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