SunPower announced its plans to spin-off businesses into global solar panel manufacturing and US distributed solar generation and storage.
SunPower (SPWR) surprised investors with strong third-quarter earnings on October 30. It reported EPS of $0.07, beating analysts' consensus estimate.
Solar stocks highlighted the top-rallied sectors this year. After hitting multiyear highs, many solar stocks have fallen as much as 40% since August.
Almost all the solar stocks have had a fantastic run so far this year, and First Solar (FSLR) is no exception. FSLR stock is up more than 45% year-to-date.
On Wednesday, SunPower reported its second-quarter earnings after the markets closed. The company reported an adjusted loss of $0.22 per share.
Analysts expect SunPower (SPWR) to have poor earnings in the second quarter. SunPower's second-quarter earnings are expected on July 31.