Trina Solar (TSL) Stock Gains After Competitors' Earnings Reports
NEW YORK (TheStreet) -- Shares of Trina Solar (TSL) were gaining 5.1% to $12.18 Thursday following Canadian Solar (CSIQ) - Get Report and Vivint Solar's (VSLR) - Get Report earnings reports.
Canadian Solar reported earnings of $1.28 a share for the fourth quarter, below analysts' estimates of $1.34 a share. Revenue grew 84.1% year over year to $956.15 million for the quarter, above analysts' estimates of $953.94 million. The company also said that it is "planning to form a YieldCo vehicle."
Vivint Solar reported a loss of 36 cents a share for the fourth quarter, above analysts' estimates of a loss of 37 cents a share. Revenue grew 248.2% year over year to $6.86 million for the fourth quarter, compared to analysts' estimates of $6.01 million.
The two solar power companies' earning reports helped bring up shares of other companies in the sector.
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