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Wednesday, Dec 12
2012, 11:28 AM
Debt-laden, cash-burning LDK Solar (LDK +16.3%) says it has "entered into discussions with...
Debt-laden, cash-burning LDK Solar (LDK +16.3%) says it has "entered into discussions with certain creditors to obtain additional flexibility," and has hired Citi to assist in the process. Shares were already posting huge gains prior to the announcement, fueled by reports the Chinese government is ramping its solar subsidies and installation targets. Other big winners: TSL +15.8%. YGE +17.1%. JASO +13.2%. SOL +12%. STP +7.9%. JKS +11.2% - previous. U.S. vendors First Solar (FSLR +4.1%) and SunPower (SPWR +6.2%) are also higher. (LDK's Q4 guidance)