LDK Solar (LDK) Raises Q3 Guidance, Shares Surge Again

LDK Solar (LDK) is surging higher in pre-market trading and lifting other solar stocks after it raised Q3 guidance.  The company now expects revenues to come in at $610 – $640 million vs the previous estimate of $570 – $600 million.  They are also raising shipments guidance on modules and wafers.  The company expects to ship 550 – 570MW in solar wafers and 80 – 90MW in solar modules which compares with the previous estimates of 520 – 550MW and 75 – 85MW respectively.

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Shares are up about 8% ahead of the bell.  Technically, shares have carved out a bullish pennant in recent weeks and it appears the stock will break out of that formation this morning.

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