Trina Solar Falls After Reducing Quarterly Shipment EstimateJustin Doom
Trina Solar Ltd., the Chinese panel maker with six consecutive quarterly losses, fell the most in seven weeks after saying first-quarter shipments will be lower than an earlier forecast.
Trina’s American depositary receipts, each worth 50 ordinary shares, declined 8.8 percent to $5.41 at the close in New York, the most since March 25.
Shipments for the quarter will be 390 megawatts to 400 megawatts compared with an earlier estimate of 420 megawatts to 430 megawatts, Changzhou, China-based Trina said today in a statement.
Trina said it may revise its 2013 shipment forecast of 2 gigawatts to 2.1 gigawatts when it releases its earnings on May 29, according to the statement.