Why SunPower Shares Jumped 12.9% Before Dropping After Hours
Shares of solar manufacturer SunPower (NASDAQ: SPWR) jumped as much as 12.9% in trading Wednesday ahead of its fourth-quarter earnings report. Shares closed up 10.6% on the day but quickly fell 5% in after-hours trading as earnings failed to impress late traders.
Trading during the day was a lot of speculation over earnings, but when the numbers finally came out, quarterly revenue on a non-GAAP (adjusted) basis was $607.0 million, and earnings were $0.23 per share, both slightly beating expectations.
Image source: SunPower.
Source Fool.com
