Why SunPower Shares Popped 15% on Friday
Shares of residential solar company SunPower (NASDAQ: SPWR) jumped as much as 15% in trading Friday after reporting first-quarter 2020 results. Shares fell off later in the day, and at 3:20 p.m. EDT were up 6.8%.
SunPower reported revenue of $449.2 million in the quarter, gross margin of 8.3%, and an adjusted loss of $17.3 million, or $0.10 per share. That compares with analyst estimates of $408.8 million in revenue and a loss of $0.19 per share.
Image source: SunPower.
Source Fool.com
