LDK Solar rises 9% on improved Q3 guidance

LDK Solar Co. Ltd. (NYSE:LDK) gained more than 9% this morning after the company increased its revenue guidance for the third quarter.

The Chinese manufacturer of multicrystalline solar wafers now estimates its third-quarter revenue to be in the range of $530 million to $540 million compared with a previously issued estimate of $486 million to $496 million.

The company also said it reached annualized wafer production capacity of 1.2 GW by the end of the third quarter of 2008, ahead of its publicly announced plans to reach the target by year's end.

By mid-morning, LDK Solar is at $21.25, up $1.93 from Tuesday's close, after reaching as high as $23.50 earlier in the day. The stock has traded as low as $19.31 and as high as $75.65 during the past 52 weeks.

For detailed price information and news stories on LDK Solar Co. Ltd, click LDK.

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