8.85 +0.05 (0.57%)
After hours: 7:26PM EDT
|Bid||8.70 x 800|
|Ask||8.85 x 900|
|Day's Range||8.56 - 8.88|
|52 Week Range||6.46 - 11.70|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Zacks Investment Ideas feature highlights: Lennar Homes, First Solar, Sunpower, Tesla and JinkoSolar Holdings
SunPower published a stronger than expected set of Q1 2018 results on Tuesday, driven by strength in its commercial and residential solar operations, although this was partially offset by some headwinds in the power plant space. Below, we provide some of the key takeaways from the company’s results and what lies ahead for SunPower. SunPower continued to perform well in the distributed solar market.
U.S. solar company SunPower Corp reported a smaller-than-expected quarterly loss on Tuesday on higher demand for solar panels in its U.S. residential and commercial business. SunPower is refocusing its business on so-called distributed generation (DG), or projects that generate power on-site for homes and businesses. SunPower's high-efficiency, premium panels are well-suited to the DG market, the company said, because they can generate more power in smaller spaces than rival products.
The San Jose, California-based company said it had a loss of 83 cents per share. Losses, adjusted for asset impairment costs and non-recurring costs, came to 20 cents per share. The results exceeded Wall ...
U.S solar company SunPower Corp reported a smaller quarterly loss on Tuesday, on higher demand for solar modules in residential and commercial markets. The company's net loss attributable to shareholders ...
SunPower’s performance in the U.S. market could be impacted to a certain extent by the 30% tariff imposed by the Trump administration on the import of silicon-based solar cells and modules. SunPower primarily manufactures its products in Asia-Pacific and Mexico, and the company has noted that the higher costs due to import tariffs have delayed some 2018 projects while making others unviable. The power plant business, which has been transitioning away from project developments towards solutions, is likely to be impacted more than SunPower’s other segments, as panel costs account for a larger part of the system cost.
Solar stocks took a beating in the second half of 2015 and throughout 2016, but the sector turned around in 2017. In fact, one exchange-traded fund (ETF) tracking the sector – the Guggenheim Solar ETF ( TAN) – generated impressive returns of over 54% last year. Solar stocks soared in the past due in part to federal tax credits for home solar installation and other incentives to stimulate the industry, but the sector was surprisingly resilient in 2017 despite a presidential administration that does not prioritize renewable energy to the same extent as its predecessor.
SunPower's acquisition of SolarWorld Americas has to do with politics first, financials second. But make no mistake, playing politics could significantly benefit its bottom line.
SunPower (SPWR) aims to expand SolarWorld Americas' operations, post the completion of the deal, to capitalize on the rising demand for U.S. solar installations.
On a mixed day for day the major benchmarks, Intuitive Surgical jumped on strong earnings and SunPower announced it is buying a domestic solar panel factory.
First Solar stock jumped after receiving an upgrade and price-target boost based on expectations of rising solar demand. SunPower acquired solar panel maker SolarWorld
The news sent SunPower's shares up 12 percent on the Nasdaq to their highest level since before President Donald Trump imposed 30 percent tariffs on imported solar panels in January. SunPower is based in San Jose, California but most of its manufacturing is in the Philippines and Mexico.