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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: LDK Solar (NYSE: LDK ) popped 11% in intraday trading today after announcing it had signed an agreement for a major new project.
So what: LDK Solar and Datang International Power Generation signed an engineering, procurement, and construction agreement in which LDK Solar will develop a 20-megawatt solar project in China. Construction on the first 10 megawatts is scheduled to begin this month.
Now what: Solar stocks have been particularly hard hit in the recent market sell-off. That's at least somewhat due to disappointing financial news from First Solar (Nasdaq: FSLR ) , JA Solar (Nasdaq: JASO ) , and Trina Solar (NYSE: TSL ) . Yesterday, my Foolish colleague Travis Hoium concluded that solar stocks look oversold and recommended vertically integrated players capable of developing large projects. Even after today's pop, LDK stock has a forward P/E ratio of only 3.6 times.
Interested in more info on LDK? Add it to your watchlist by clicking here.