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ReneSola cuts outlook amid solar selloff

Tue, 07/12/2011 - 9:28am
Reuters

BANGALORE (Reuters) - ReneSola Ltd, a China-based solar wafer producer, joined a slew of companies in cutting its quarterly revenue and gross profit margin view, as lower subsidies in major European markets weigh on sales and prices.

ReneSola shares, having nearly halved their value this year, fell 8 percent to a low of $4.29 on Tuesday. Other solar stocks, including those of First Solar, Suntech Power, Trina Solar, Yingli Green Energy and GT Solar International, were also down.

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