LDK Solar (LDK +6.9%) rallies all the way to $0.93 after announcing it will receive $33.4M to...

|About: LDK Solar Co., Ltd. (LDK)|By:, SA News Editor

LDK Solar (LDK +6.9%) rallies all the way to $0.93 after announcing it will receive $33.4M to terminate a solar wafer supply agreement with Japan's Sumitomo. Much like rival MEMC's (WFR +1.9%) terminations, LDK's deal with Sumitomo unraveled because the huge price declines seen for solar wafers made the terms of the original deal uneconomical.