Yingli Green Energy bounces higher on solid 3Q earnings - Elizabeth Harrow

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Yingli Green Energy bounces higher on solid 3Q earnings
Nov 13, 2009 05:00 PM UTC

Elizabeth Harrow

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Filed under: International markets, Earnings reports, China, Options, Technical Analysis

Yingli Green Energy (YGE) traded sharply higher Friday in the wake of its third-quarter results. The solar issue reported that its quarterly earnings contracted 18% to $17.7 million, or 12 cents per American depositary share (ADS). Excluding items, such as stock compensation, earnings weighed in at 18 cents per ADS. Revenue for the period edged 0.7% higher to arrive at $325.9 million.

Ahead of the report, analysts were looking for a profit of 16 cents per ADS on $331 million in revenue. Despite the revenue miss, YGE surged into the black right out of the gate. In addition to the stronger-than-expected profit number, traders were no doubt enthused by an 80% jump in shipments from second-quarter levels.

Continue reading Yingli Green Energy bounces higher on solid 3Q earnings

Yingli Green Energy bounces higher on solid 3Q earnings originally appeared on BloggingStocks on Fri, 13 Nov 2009 12:00:00 EST. Please see our terms for use of feeds.

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