LDK Solar Company Ltd. (NYSE:LDK) shares are being hammered this morning, following yesterday’s announcement that the company expects to report a net loss in the fourth quarter of 2008 and lower revenue for the full year. The company will write down $210 million-$220 million in inventories and, as a result, expects negative gross margins. Negative gross margins. That is worse than just bad.
The solar sector has been in trouble because of lower energy prices and because many buyers for projects have either had to curtail new spending or because their credit to do new projects has been limited. The solar sector seems to be getting divided into two groups: the haves with promises, and the have-nots with hope. You can guess which LDK is looking like. The stock is off nearly 15%, and is sitting at a new 52-week low.
Paul Ausick
February 19, 2009
Credit Card Companies Are Doing Something Nuts
Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.
It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.
We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
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