SunPower Falls 20% As Weak Guidance Trumps Q2 Beat

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SunPower Corporation SPWR shares are trading lower by $2.12 at $9.27.

Despite a Q2 EPS beat of 9 cents with a nearly $30 million sales beat, the stock is deep in the red as the company forecasts weaker-than-expected Q3 sales.

SunPower's lower opening print of $10.50 has turned out to be high for the session. The follow-though on the decline has taken the stock to $9.00 and it's attempting to rebound. That low comes in between its July 11 low ($8.84) and its July 12 low ($9.14).

Posted In: TechnicalsIntraday UpdateMoversTrading Ideas
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