China Sunergy Falling Over 7% After Slashing Guidance This Morning

China Sunergy Co., Ltd. CSUN today announced updates to its guidance for the second quarter of 2011 and full year 2011. China Sunergy expects its solar module shipments in the second quarter to be between 100 and 110 MW, compared to the Company's previous guidance of between 120MW and 130MW. The Company delayed some of its shipments to July, in line with the Company's credit control policy, as a result of delays in the approval of project loans to some of Company's customers in Europe. Read more here.