Why Canadian Solar's Shares Jumped 11.1% Today
Shares of solar panel manufacturer Canadian Solar (NASDAQ: CSIQ) jumped as much as 11.1% in early trading on Thursday after reporting fourth-quarter financial results. The solar energy stock lost a lot of those gains as the day went on and was up 3% at 1:15 p.m. EDT.
Solar panel shipments were a whopping 3.0 gigawatts in the quarter, and revenue grew 13.2% to $1.04 billion. Net income was down from $67.9 million a year ago to $6.7 million, or $0.11 per share, largely because of higher raw material prices.
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Source Fool.com
