STP Turned Bullish after Publishing 3Q Report

November 23, 2011
Suntech Power Holdings Co., Ltd (NYSE:STP) gained 17.49% or $0.39 and showed an upward moving trend.
The third quarter financial results published by the company reported the total net revenues of $809.8 million which is 2.5% lower than in the second quarter of $830.7 million and 8.0% higher as compared to the same period of the past year. In the outlook for the fourth quarter STP expects a decline of 20% in shipments and gross margin between 9% and 11%.
Suntech Power Holdings Co., Ltd. belongs to the Semiconductor industry of the Technology sector. It is a solar energy company in development, manufacturing and marketing of PV products and providing a wide range of services for building solar power systems.
 
By Brent Cole

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