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SunPower Corp (SPWR.O)

SPWR.O on Nasdaq

7.26USD
17 Jan 2017
Change (% chg)

$-0.19 (-2.55%)
Prev Close
$7.45
Open
$7.45
Day's High
$7.59
Day's Low
$7.22
Volume
2,115,349
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$26.29
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$6.00

Latest Key Developments (Source: Significant Developments)

Duke Energy Renewables acquires three California solar projects from Sunpower
Tuesday, 10 Jan 2017 08:30am EST 

Sunpower Corp : Duke energy renewables acquires three california solar projects from sunpower . Duke energy renewables says has acquired three solar power projects from sunpower corp totaling 55 megawatts . Duke energy - acquired three solar power projects from sunpower corp. Totaling 55 megawatts .Duke energy renewables -acquisition was completed in late december, same month facilities were placed in service.  Full Article

Sunpower says there is no significant reduction in capacity from China
Wednesday, 7 Dec 2016 09:44am EST 

Sunpower Corp :Sunpower corp ceo says broadly, there is no significant reduction in capacity from china.  Full Article

Sunpower sees some price stabilization in 2017 - Conf call
Wednesday, 7 Dec 2016 09:39am EST 

Sunpower Corp : Sunpower Corp CEO says expects earnings growth in 2018 to be a "significant improvement" from 2017 . Sunpower corp says sees some price stabilization in 2017 - conf call . Sunpower Corp CEO says expect to start seeing improvement in the solar industry in the back half of next year - conf call . Sunpower Corp says power plant business won't grow as fast as previously projected - conf call .Sunpower Corp says expect overall residential volumes and commercial volumes to improve in 2017 over 2016 - conf call.  Full Article

Sunpower to close its Philippine-based Fab 2 manufacturing facility
Wednesday, 7 Dec 2016 08:00am EST 

Sunpower Corp : Sunpower Corp - Board of directors approved closure of company's philippine-based fab 2 manufacturing facility . Sunpower-On Dec. 2, compensation committee approved extension of reduction of salary of thomas werner to $1, net of benefit costs, through end of q1 .Sunpower Corp - extension was at Werner's request in light of continued market dislocation and need to reduce operating expenses..  Full Article

SunPower to cut about 25 pct of its workforce
Wednesday, 7 Dec 2016 07:59am EST 

SunPower Corp : SunPower Corp - to implement a global workforce reduction of approximately 25 percent or 2,500 employees . SunPower Corp - to substantially decrease 2016 inventory to improve working capital and de-lever its balance sheet . To reduce 2017 annual operating expenses to less than $350 million . SunPower Corp - reduce annual 2017 capital expenditure by more than 50 percent to approximately $100 million . SunPower Corp - will record restructuring charges of at least $150 million on a GAAP basis in Q4 of 2016 . Sees 2017 revenue of $1.8 billion to $2.3 billion on a gaap basis and $2.1 billion to $2.6 billion on a non-gaap basis . SunPower Corp - will record a Q4 GAAP and non-GAAP charge in range of $50 million to $55 million as a result of anticipated sale of above market Polysilicon . Approximately 30 percent of restructuring charges will be in cash . To substantially decrease 2016 inventory to improve working capital and de-lever its balance sheet . SunPower Corp - expects to incur total restructuring charges of $225 million to $275 million through end of 2017 . SunPower Corp - will record restructuring charges of at least $150 million on a GAAP basis in Q4 of 2016 . As a result of restructuring, expects to incur total restructuring charges of $225 million to $275 million through end of 2017 . SunPower Corp - expects to generate positive cash flow from operations through end of fiscal year 2017.  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

BRIEF-Duke Energy Renewables acquires three California solar projects from Sunpower

* Duke energy renewables acquires three california solar projects from sunpower