Wednesday, May 14, 2008

CNBC Bonus Bucks Answers for Wednesday, May 14, 2008 (3)

The Call--Question # 3

Short Seller Trivia: In the May 1 "Market Insider" blog, which green stock did shorts want badly?
Answer: Canadian Solar

May 1, Market Insider Blog
There is also interest by short sellers in Canadian Solar

Canadian Solar 1Q profit tops estimates; sees 2Q revenue above consensus

Canadian Solar Inc. said Tuesday that first-quarter adjusted income was $21.2 million, or 65 cents a share, handily topping the mean estimate of analysts polled by Thomson Reuters of 31 cents a share. Revenue for the three months ended March 31 rose to $171.2 million from $17.5 million in the first quarter of 2007. Wall Street analysts, on average, forecast sales of $151.9 million. The Markham, Ontario-based solar module products manufacturer said its first quarter results were the result of "robust market demand for our products, strong pricing, effective management of foreign exchange exposure, strong operational execution" of its flexible vertical integration business model, and a balanced supply strategy. Canadian Solar said it expects second-quarter adjusted income of $17 million to $18 million on revenue of $185 million to $190 million. Analysts, on average, estimate second-quarter earnings of 34 cents a share on revenue of $167.6 million. The company also expects second-quarter shipments of about 45 megawatts and said it expects to produce between 100 megawatts to 150 megawatts of UMG silicon products in fiscal 2009.

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