MEMC Electronic Materials, Inc. (NYSE: WFR) shares rose almost 15% on news that it would supply Conergy with silicon valued at $7-$8 billion over 10 years.
MEMC also announced it expanded its deal with Taiwan’s Gintech Energy Corp to supply an additional $700-$800 million of silicon over 10 years. The total value of the agreement is now $3-$4 billion. MEMC’s third quarter revenue of $472.8 million came in slightly under analyst expectations of $476.9 million, but the EPS of 81 cents was a penny higher.
Forecasts for the fourth quarter are $540-$545 million in revenue.
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