LDK Falling Into Solar Woes Group (LDK)
LDK Solar Company Ltd. (NYSE:LDK) shares are being hammered this morning, following yesterday’s announcement that the company expects to report a net loss in the fourth quarter of 2008 and lower revenue for the full year. The company will write…
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The solar sector has been in trouble because of lower energy prices and because many buyers for projects have either had to curtail new spending or because their credit to do new projects has been limited. The solar sector seems to be getting divided into two groups: the haves with promises, and the have-nots with hope. You can guess which LDK is looking like. The stock is off nearly 15%, and is sitting at a new 52-week low.
Paul Ausick
February 19, 2009
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
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McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.