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Sunpower

All articles tagged with #sunpower

finance2 years ago•2 min saved

"Challenges Ahead for Plug Power and SunPower in First Half"

Plug Power and SunPower face downgrades as analysts expect continued headwinds in the residential alternative energy segment through the first half of the year, with both stocks having fallen over 70% in the last 12 months. Plug Power struggled in 2023, issuing a going-concern warning amid quarterly losses and a "severe" hydrogen shortage, while SunPower's stock is down 79% in the last year. Weak demand in the US residential solar market, higher interest rates, and net metering changes are contributing to the challenges, with analysts expecting a 12% decline in residential installations in 2024.

via MarketWatch|

#alternative-energy #finance #plug-power

business2 years ago•1 min saved

SunPower's Stock Plummets Amid Going-Concern Warning

SunPower's stock plummeted over 30% after the company issued a going-concern warning in its regulatory filings, citing a breach of covenant due to a delay in filing its 10-Q. The warning stated that failure to reach an agreement with lenders would result in immediate debt repayment of $65.3 million. The stock's decline of 77% this year reflects the challenges faced by SunPower and the solar power industry as a whole, including higher interest rates and regulatory changes. The company is seeking additional waivers and exploring funding alternatives, such as an equity raise or partnerships.

via MarketWatch|

#business #debt-repayment #going-concern-warning

business2 years ago•2 min saved

SunPower's Stock Plunges Amid Survival Doubts and Default Risk

Shares of SunPower Corporation (SPWR) are plummeting over 35% after a regulatory filing revealed "substantial doubts" about the company's survival. SunPower also breached a key term in a credit agreement, potentially leading to loan recalls. The decline in stock value reflects concerns about the company's ability to compete in the solar energy market and increased competition. Goldman Sachs downgraded SunPower and lowered its price target, citing price pressure and lower revenue estimates. The renewable energy sector has faced jitters due to high capital costs and the impact of a higher interest rate environment.

via Yahoo Finance|

#business #credit-agreement #renewable-energy

business2 years ago•1 min saved

SunPower's Shares Plummet Amid Concerns Over Viability

SunPower, a solar power generation company, raised doubts about its ability to continue operating after breaching a key term in a credit agreement, potentially leading lenders to recall $65.3 million in debt. The company is currently in talks with lenders for a waiver, but if unsuccessful, it may not have sufficient funds for day-to-day operations. However, analysts believe that obtaining a waiver should not be a problem as it is primarily a technical issue. SunPower had previously secured a waiver after breaching the terms of another credit agreement and had announced restatements of its financial statements for last year and the first two quarters.

via Reuters|

#business #credit-agreement #debt

business2 years ago•0 min saved

SunPower's Shares Plummet Amid Going Concern Doubts

SunPower, a solar company, expressed doubts about its ability to continue as a going concern, causing its shares to drop by 25%. The company also disclosed a breach in its credit agreement due to a delay in filing its quarterly results. SunPower had previously announced the need to restate its financial statements for the last fiscal year and the first two quarters. The lender may demand immediate payment of outstanding borrowings, which amount to $65.3 million. SunPower stated that if it is unable to continue its business, its common stock may have little or no value.

via Yahoo Finance|

#business #credit-agreement #financial-concerns

business2 years ago•1 min saved

"Netflix, Roku, SunPower, Beyond Meat, and More: Pre-market Stocks with Significant Momentum"

Stocks making significant moves in premarket trading include Roku, which climbed 2% after announcing a partnership with Shopify; Beyond Meat, which added 2% as its steak product expands to be sold in more stores across the U.S.; SunPower, which soared nearly 6% after receiving an upgrade from Raymond James; Carvana, which rose roughly 2% following an upgrade from JMP; and Netflix, which increased 0.4% after UBS raised its price target on the stock.

via CNBC|

#beyond-meat #business #carvana