Volume Spike Investor

Suntech Power Holdings Co. Ltd. (NYSE: STP) is seeing a surge in both its price and its pre-market trading volume.  Shares are trading up over 4% at $38.90 at 8:40 AM EST on more than 130,000 shares pre-market after beating earnings and raising guidance.

Its new guidance for 2008 is $2.05 to $2.15 Billion in sales, up from a prior range of $1.9 to $2.1 Billion and above estimates of $2.06 Billion in revenues. The company is also becoming one of the largest solar players as it now expects capacity to be able to run at an annual 1 Gigawatt production by the end of the year.

Volatility is this solar player’s middle name as its 52-week trading range is $28.19 to $90.00.

Other solar tickers to watch: FSLR, ESLR, CSIQ, SOLF, CSUN.. most are indicated higher pre-market

JON OGG
August 20, 2008