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

Aug. 18, 2011 6:04 PM ETLDK Solar Co., Ltd. (LDK) StockLDKBy: David Yelle, SA News Editor

LDK Solar (NYSE: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.

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