Canadian Solar Up 17% On Q2 Beat; Peers Mixed

Solar power stocks were mixed Wednesday in the wake of a big second-quarter earnings beat by Canadian Solar CSIQ that sent its shares up more than 17 percent.

China-based JA Solar JASO gained four percent while Trina Solar Ltd. TSL jumped 2.3 percent. Development-stage Ascent Solar Technologies ASTI picked up 3.7 percent.

Sunedison SUNE fell 1.3 percent and SolarCity SCTY dropped a point.

Earlier Wednesday, Canadian Solar forecast third-quarter revenue of $760 million to $810 million, compared with analysts' expectations of $784 million.

For the second quarter, the company posted net income of $0.95 per share, while revenue grew nearly 34 percent to $623.8 million. Wall Street had forecast $0.58 per share on revenue of $577.7 million.

Canadian Solar traded recently at $29.41, up 17.78 percent.