Canadian Solar (CSIQ) is leading this morning's premarket gap-up action, up 6.6% as it gaps to new highs from a very short one-week flag formation. Group rank 1.
The gap up is due to CSIQ announcing selective preliminary results for the third quarter ended on September 30, 2013. For the third quarter of 2013, Canadian Solar now expects solar module shipments to be in the range of approximately 460 MW to 480 MW, which exceeds the Company's original guidance of 410 MW to 430 MW. The Company also expects its gross margin to be in the range of 18% to 20% compared to its original guidance of 10% to 12% due to completion and sales of its solar power plants. Canadian Solar will report full earnings results on Wednesday, November 13, 2013.
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