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What to Watch Friday May 16: Canadian Solar Earnings

Canadian Solar reports before the market opens on Friday and investors will be looking to see if the company is able to keep up with demand this quarter. Canadian Solar has given guidance that's in-line with analysts’ estimates of $0.12 a share, which doubles earnings from a year ago. It's also expecting $430 million in revenues, representing a growth in sales of more than 60 percent. But severe winter conditions hit the industry hard, delaying power plant construction projects in North America. Even announcing a partnership with Ikea Australia hasn't helped Canadian Solar. The stock has dropped from its March high of $43 a share and is down about 7 percent ahead of its quarterly report.