[August 22, 2011] Suntech Power Posts Wider Loss, But Revenue Beats Estimates Tweet (MarketNewsVideo.com Via Acquire Media NewsEdge) Solar panel producer Suntech Power (STP) reported a wider loss for its fiscal second quarter today. The company's loss totaled $259.5 million, or $1.44 per American depositary share, compared to a loss of $174.9 million, or $0.97 per share, in last year's second quarter. Suntech said its adjusted loss totaled $0.19 per share, which missed Wall Street expectations for a profit. The China-based company said revenue rose 33%, to $830.7 million, which beat analyst expectations. Suntech said it expects photovoltaic shipments to increase 15% in the third quarter on a sequential basis. It projects full-year revenues of $3.2 billion to $3.4 billion. Suntech shares are trading up 4.7% Monday. The Solar Energy ETF (KWT) is trading up 3% Monday. First Solar (FSLR) is the top stock in the fund, followed by GT Advanced Technologies (GTAT). MEMC Electronic Materials (WFR) and Trina Solar (TSL) round out the top four holdings. The Guggenheim Solar ETF (TAN), which also includes First Solar and MEMC among its top holdings, is trading up over 2.6% Monday. The preceding is a transcript of the MarketNewsVideo.com video published at: http://www.marketnewsvideo.com/?id=201108STP082211&mv=1. [ Back To TMCnet.com's Homepage ]