Bill Wexler's Trading Cabana Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Bill Wexler's Trading Cabana

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Bill Wexler who wrote (2411)	10/3/2007 5:04:42 PM
From: RockyBalboa	Read Replies (2) of 6370

Solar is also suffering: LDK NEW YORK, Oct 3 (Reuters) - Stock in Chinese-based solar wafer maker LDK Solar Co (LDK.N: Quote, Profile, Research) fell almost 25 percent on Wednesday after a report that its financial controller had left the company amid poor controls and an inventory discrepancy. There was no immediate comment from LDK, which is based in Jiangxi, China, and has offices in Sunnyvale, California. In a research note, Piper Jaffray said it had confirmed that LDK's financial controller had recently left the company. "We are also aware of the former controller's allegations of poor financial controls and a ... inventory discrepancy. "News of the departure may pressure the stock short term," the note said. Piper Jaffray said the allegations were made to both the Securities and Exchange Commission and the external auditor KPMG. It said it has spoken to LDK's chief financial officer who assured Piper of its inventory of polysilicon. LDK Solar was launched with an initial public offering in June and hit a year-high share price of $76.75 on Sept. 27. On Wednesday its stock closed on the New York Stock down $16.66, or 24.39 percent, at $51.65. The company manufactures the wafers used in solar panels.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next