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SunPower Corp (SPWR.O)

SPWR.O on Nasdaq

8.52USD
23 Sep 2016
Change (% chg)

$0.27 (+3.27%)
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$8.25
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Latest Key Developments (Source: Significant Developments)

SunPower acquires AUO's stake in Malaysian joint venture
Monday, 19 Sep 2016 08:06pm EDT 

SunPower Corp : Sunpower acquires AUO's stake in Malaysian joint venture . Under stock purchase agreement, SunPower will pay AUO $170 million over next four years . Sunpower plans to eventually upgrade Melaka facility .Has also signed a supply agreement with AUO for 100 MW of SunPower's E-series solar panels.  Full Article

SunPower plans to drop-down minority stake in Henrietta project to 8POINT3 Energy - Conf Call
Tuesday, 9 Aug 2016 05:51pm EDT 

SunPower Corp : SunPower Corp CEO says beyond 2016, expect that the pace of U.S. power plant project deployments will be reduced for the next two years - Conf call . Plan to drop-down the remaining minority stake in Henrietta project to 8POINT3 Energy, before the end of the year . SunPower Corp CEO says "will reduce my cash salary and bonus to $1 for the balance of the year " - Conf call Further company coverage: [SPWR.O] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Sunpower says expects workforce reduction of about 15 pct
Tuesday, 9 Aug 2016 05:21pm EDT 

Sunpower Corp : Gaap revenue $401.8 million versus $376.7 million last year . Sunpower reports second quarter 2016 results . Sees fy 2016 revenue $2.8 billion to $3.0 billion . Qtrly non-gaap net income loss per diluted share $0.22 . Q2 earnings per share view $-0.24, revenue view $345.1 million -- Thomson Reuters I/B/E/S . Sunpower corp sees q3 2016 gaap revenue of $700 million to $800 million . Realigning manufacturing operations to increase relative mix of x-series capacity . Sunpower corp says expects workforce reduction of approximately 15 percent or 1,200 employees . Substantial portion of charges to be incurred in q3 of 2016 with more than 50 percent of total charges to be cash . On a gaap basis, now expects 2016 gross margin of 9.5 percent to 11.5 percent and net loss of $175 million to $125 million . Gaap revenue of $3.0 billion to $3.2 billion . Fy2016 earnings per share view $1.36, revenue view $3.29 billion -- Thomson Reuters I/B/E/S . Q3 earnings per share view $0.81, revenue view $1.13 billion -- Thomson Reuters I/B/E/S . Sunpower corp says q2 gaap revenue $420.5 million versus $381 million last year . Qtrly loss per share $0.51 . Gaap basis, in q3 2016, company expects revenue of $750 million to $850 million . To utilize equipment from some of older solar cell manufacturing lines in fab 2 to debottleneck capacity in order to increase supply of x-series panels.  Full Article

SunPower enters agreement with First Philippine and First Philec
Tuesday, 26 Jul 2016 06:28am EDT 

SunPower Corp : On July 22 company's unit entered into an agreement with first philippine electric corp and first philec solar corp - sec filing . Company had previously recorded an accrual related to matter, and thus settlement did not have a material impact on statements of operations . Pursuant to terms, SPML has paid a total of $50.5 million to FPSC and FPEC in settlement of all claims between parties . Also pursuant to compromise agreement, SPML will transfer all of its shares in FPSC to FPEC . Agreement to settle claims, counterclaims, disputes, proceedings between company's unit and First Philippine Electric Corp, First Philec Solar Corp Source : (http://bit.ly/2aHbP9p) Further company coverage: [SPWR.O] ((Bengaluru Newsroom; +91 80 6749 1130;)).  Full Article

SunPower amends and extends terms of existing credit support agreement with TOTAL S.A
Thursday, 7 Jul 2016 04:05pm EDT 

SunPower Corp: SunPower announces credit facility update . Amended and extended terms of its existing credit support agreement with total S.A through 2018. . Amended and restated initial agreement to reduce amount available under facility to $500 million .With this agreement, total will guarantee SunPower's letters of credit in support of certain company activities.  Full Article

Sunpower awarded 76 percent of France's ZNI tender
Thursday, 7 Jul 2016 02:00am EDT 

Sunpower Corp : Was selected to provide 39.1 megawatts of solar photovoltaic technology . Will design and build five solar power installations in corsica and french west indie .Sunpower awarded 76 percent of france's zni tender.  Full Article

Southern Power acquires controlling interest in 102 MW Henrietta solar project
Wednesday, 6 Jul 2016 09:00am EDT 

Southern Co : Southern Power acquired controlling interest in 102-megawatt (MW) Henrietta solar project in Kings County, California , from Sunpower .Sunpower will own remaining interest in project.  Full Article

SunPower Corp announces intention to offer $350 million aggregate principal amount of senior convertible debentures
Tuesday, 8 Dec 2015 05:38pm EST 

SunPower Corp:Announces intention to offer $350 million aggregate principal amount of senior convertible debentures.Says debentures will mature in January of 2023.  Full Article

Turlock Irrigation District enters power purchase agreement with SunPower
Wednesday, 11 Nov 2015 08:00am EST 

Turlock Irrigation District and SunPower Corp:Says a 20-year power purchase agreement under which TID will buy clean renewable solar power from SunPower.Says To serve the agreement, SunPower is starting construction this month on a 54-megawatt (AC) solar photovoltaic power plant at company's Rosamond Solar site in Kern County, which is expected to be operational by the end of 2016.  Full Article

SunPower acquires 1.5 GW U.S. solar power plant pipeline
Monday, 27 Jul 2015 05:05pm EDT 

SunPower Corp:Acquires 1.5 gigawatt U.S. solar power plant pipeline.Says expects to start construction on projects later this year with commercial operation anticipated in 2016.Says expects to offer some of the acquired projects for sale to 8Point3 Energy Partners LP.Acquired 1.5 gigawatts of U.S. solar power plant development assets from Australia-based infigen energy.  Full Article

BRIEF-Total does not plan to take full control of SunPower -Pouyanne

Sept 22 Total CEO Patrick Pouyanne told investors on Thursday that the firm does not intend to take full control of subsidiary SunPower Corp, the No. 2 solar panel maker in the United States.