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November 20, 2008 5:03 AM - Sign in to comment - Link
Suntech Shares Plunge on Shockingly Weak Q4 Outlook [Voices]By Eric Savitz, Blogger and Columnist, Barron’s, Tech Trader Daily Suntech (STP) shares are trading dramatically lower–and dragging down the rest of the already battered solar sector–on an extremely weak outlook for Q4 results. For Q3, the company posted revenue of $594.4 million and non-GAAP profits of 36 cents a share. That beat the Street estimate of $571.7 million at the top line, but fell short of Street estimate of 42 cents at the bottom line. But what really matters here is the outlook. For Q4, the company now sees revenue of $345 million to $360 million, dramatically below the...
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