04 Oct '11, 3pm

Suntech, First Solar Stocks at Historic Lows: Why does a firm like Suntech with annual revenue of $3.2 billion...

Suntech, First Solar Stocks at Historic Lows: Why does a firm like Suntech with annual revenue of $3.2 billion...

Why does a firm like Suntech with annual revenue of $3.2 billion have a market cap of $306.25 million? Why has First Solar's market cap dropped to $5 billion from more than $10 billion just months ago? First Solar's stock, trading at $57.90 and down 8.4 percent, has not seen its stock price that low since April 2007. Yesterday, October 3, Suntech's stock dropped 26.41 percent to $1.70, an historic low. What is the market reacting to? Suntech is the world's largest producer of solar panels. As of last quarter's earnings report, the China-based firm was on track to meet its full year guidance of 2.2 gigawatts. Total net revenues were $830.7 million in the second quarter of 2011. Revenue guidance for full year 2011 was dialed down $100 million to a range of $3.2 billion to $3.4 billion . Gross margins were a slim 4.1 percent in the second quarter of 2011. The firm's ASP decli...

Full article: http://www.greentechmedia.com/articles/read/Suntech-and-O...

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