Shares of Canadian Solar soared on the back of a bright earnings report.
The solar company reported adjusted first-quarter earnings of 39 cents a share on revenue of $721 million, blowing past expectations for 14 cents a share on sales of $663 million, according to consensus estimates from Thomson Reuters.
Canadian Solar also raised its full-year sales guidance. The company said that it now expects $3 billion to $3.2 billion in revenue for 2016. It had previously forecast $2.9 billion to $3.1 billion in sales for the year.
The stock was up more than 12 percent on Wednesday.