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BRIEF-New Energy Solar Buys 49 Pct Stake In Boulder Solar I Facility In Nevada From SunPower Corp
* BUYS 49 PERCENT STAKE IN BOULDER SOLAR I FACILITY IN
FROM SUNPOWER CORP
SunPower tops estimates on healthy demand for solar panels
SunPower Corp(SPWR), the No. 2 U.S. solar panel maker, on Wednesday reported better-than-expected quarterly profit and revenue, adding it would take measures to mitigate the blow from tariffs placed on imported solar panels by the Trump administration.
UPDATE 2-SunPower tops estimates on healthy demand for solar panels
Feb 14 (Reuters) - SunPower Corp, the No. 2 U.S.
solar panel maker, on Wednesday reported better-than-expected
quarterly profit and revenue, adding it would take measures to
mitigate the blow from tariffs placed on imported solar panels
by the Trump administration.
SunPower profit beats on higher demand for solar panels
SunPower Corp(SPWR) reported on Wednesday quarterly profit that beat analysts' estimates, helped by higher demand for its solar modules. Demand for solar modules remained strong due to the U.S. government's policy of allowing taxpayers to get tax credits through solar panel installations.
UPDATE 1-SunPower profit beats on higher demand for solar panels
Feb 14 (Reuters) - SunPower Corp reported on
Wednesday quarterly profit that beat analysts' estimates, helped
by higher demand for its solar modules.
SunPower's reports bigger quarterly loss
SunPower Corp(SPWR) reported a bigger quarterly loss on Wednesday, largely due to a $624 million non-cash charge related to its residential leases. The company's net loss attributable to shareholders widened to $568.68 million, or $4.07 per share, in the fourth quarter ended Dec. 31, from $275.12 million, or $1.99 per share, a year earlier.
SunPower mulls over cost savings, halts U.S. expansion plans
SunPower Corp. late Wednesday said it has put on hold a $20 million plan to expand its workforce in the U.S. and is considering "other significant cost saving initiatives" to lower its expenses and improve its financial performance. Shares were halted. The solar-power company reported a wider quarterly loss and a revenue miss for the fourth quarter. SunPower said it lost $569 million, or $4.07 a share, in the quarter, compared with a loss of $275 million, or $1.99 a share, in the fourth quarter of 2016. Adjusted for one-time items, the company earned $36 million, or 25 cents a share, in the period, compared with $3.3 million, or 2 cents a share, a year ago. Revenue fell to $658 million, from $1.02 billion a year ago. Analysts polled by FactSet had expected adjusted earnings of 11 cents a share on sales of $797 million. The company said it expects revenue of $1.6 billion to $2 billion for the year. SunPower said it had applied for tariff exemptions for certain products following the government's decision to apply new tariffs on solar cells and modules. "Unfortunately, we are already seeing a negative near-term impact from the ruling as the increased costs due to import tariffs have delayed certain 2018 projects and made other projects uneconomical," the company said.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Capital Dynamics to acquire SunPower, First Solar JV for $977 million
- Asset manager Capital Dynamics said on Monday it would acquire a joint venture company of solar power developers First Solar Inc (FSLR) and SunPower Corp (SPWR) for about $976.6 million. The joint venture, 8point3 Energy Partners LP (CAFD) , owns and operates solar energy generation projects in the United States.
SunPower puts U.S. expansion on hold over Trump tariff
(Reuters) - SunPower Corp on Thursday said it was putting a $20 million U.S. factory expansion and hundreds of new jobs on hold until and unless its solar panels receive an exclusion from federal tariffs the Trump administration imposed this week.
Trump should not tax Chinese solar panels: SunPower CEO
On Monday, President Donald Trump revealed his national security strategy, where he called out powerhouse trade partner China as a threat to U.S. economic dominance.
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