Exchange traded funds that invest in solar energy could see action Wednesday following quarterly results from LDK Solar (NYSE: LDK). The stock weakened after the Chinese company, which produces solar panels, offered a second-quarter sales forecast that fell short of analyst estimates.
“During the first quarter, we made notable progress and executed on our growth strategy while improving our margin profile,” said Xiaofeng Peng, LDK’s chief executive, in the earnings release. “This progress was made despite seasonality in the macro environment and regulatory uncertainties in Europe.”
LDK is a holding in Market Vectors Solar Energy (NYSEArca: KWT), Guggenheim Solar ETF (NYSEArca: TAN) and iShares S&P Global Clean Energy (NasdaqGM: ICLN).
A pullback in prices for solar products will hit profit margins at LDK and SunPower (NasdaqGS: SPWRA), the companies said this week, according to Reuters.
Guggenheim Solar ETF is down 2.7% year to date, according to Morningstar.
Guggenheim Solar ETF
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