Suntech Power Holdings Co. (NYSE:STP) Pushed in to Bankruptcy Hell

Solar-panel manufacturer Suntech Power Holdings Co. (NYSE:STP) has been compelled into Chinese insolvency proceedings, raising queries regarding how US investors would participate in the downfall of one of China’s most famous firms.

Given Suntech’s ranking as a major employer and a chief player in an emerging sector, it once was the world’s biggest supplier of solar panels Chinese regulators might be unwilling to let the firm decline.

Suntech Power Holdings Co., Ltd. (ADR) (NYSE:STP) shares in the current session moved up +12.34% reaching at $46.15. The stock traded in a range of $42.60 – $46.98. In the last year the stock has moved within a range of $40.06 – $83.96. The current session’s volume of 5.47 million shares is lower from their average daily trading volume of 3.65 million shares.

Delta Air Lines Inc (NYSE:DAL) is in meetings to buy small and wide-body jets from Airbus and Boeing (BA.N) in agreements possibly valued around $6 billion at list prices, two people closely related with the issue reported.

Possible bookings involve almost 20 each of the planemakers’ most famous sets of jets – the Airbus A320 or Boeing 737 in the medium-haul, narrow-body class and the Airbus A330 or Boeing 777 in the long-range, wide-body segment, the people added.

Another rival company Delta Air Lines, Inc (NYSE:DAL) trading down -20.71% to $25.31. Intraday trading recorded the stock price in a range of $24.50 to $26.00. In the previous 52 weeks the stock’s price ranged between $20.70 and $87.43. The current session’s volume of 4.98 million shares was lower from their average daily trading volume of 1.95 million shares.

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