SunEdison Shares Rally In The Face Of Drastically-Reduced Q4 Guidance

Noted analyst and long-time bear on the Solar industry, Gordon Johnson of Axiom Capital, issued a concerning mid-day note on SunEdison Inc

Thursday afternoon. And given the fact that SunEdison shares closed Thursday's holiday-shortened session up nearly 10 percent, Johnson certainly seemed skeptical of the upside. The Axiom analyst highlighted the just-issued fourth-quarter megawatt guidance from the company: around 450 megawatts, down around 50 percent from the outlook issued on the company's November 10, 2015 for between 833 and 933 megawatts. Johnson also pointed to SunEdison's first-quarter 2016 delivered guidance which was "down incrementally" and fiscal-year outlook which was unchanged. The quick flash note from Johnson was capped off with an effective conclusion: "On this, the stock is up 10% in [Thursday's] trading session." Johnson and Axiom maintained a Sell rating on shares of SunEdison.