ReneSola (SOL) soars 21.45% premarket as the company updates its Q2 and full year guidance. SOL...

|About: ReneSola Ltd. (SOL)|By:, SA News Editor

ReneSola (SOL) soars 21.45% premarket as the company updates its Q2 and full year guidance. SOL now sees revenue of $365-375M and gross margin of 5-6% in Q2 and says total solar wafer and module shipments should come in at 2.8-3 GW for FY13 compared to previous guidance of 2.7-2.9GW. CEO Xianshou Li points to "effective sales and marketing" and the leveraging of manufacturing processes. If the stock holds the gains in the regular session it will have risen more than 30% over two days — news out of China regarding support for the market buoyed the sector Monday.