LDK Solar (LDK) cuts Q2 guidance due to a significant drop in wafer prices, now expecting...

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

LDK Solar (LDK) cuts Q2 guidance due to a significant drop in wafer prices, now expecting revenue to be in the range of $480 to $500M, far below analysts' expectations of $714M. The company also expects to write-down $55M to $60M of inventories, and lowers FY11 estimates. Shares plunge -20% AH.