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FRANKFURT, Germany (AP) -- Shares of Conergy AG, the German maker of solar panels, plunged 30 percent Friday after it cut its outlook for 2007 and reported a third-quarter loss. The Hamburg-based company said late Thursday that instead of expecting to earn some 60 million euros ($85.85 million) this year it would likely post a net loss on sales of about 1 billion euros ($1.43 billion). The company also said it lost 10.3 million euros ($14.74 million) in the July-September period on sales of 223 million euros ($319.09 million) revenues, and did not provide figures from the same period a year ago. The company's full report is due Nov. 12. That caused shares of the company to slide in morning trading in Frankfurt, down to 37.10 euros ($53.09). It also dragged lower shares of other renewable energy companies -- such as Ersol Solar Energy AG, which fell 1.5 percent to 82.61 euros ($118.21) and SolarWorld AG, which saw its shares fall 4.1 percent to 42.10 euros ($60.24). Shares of Q-Cells AG were down more than half a percent to 82.91 euros ($118.64).
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