February 18, 2011
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of SunPower (Nasdaq: SPWRA ) surged as much as 14% in early trading after the solar power specialist crushed fourth-quarter expectations and raised Q1 guidance.
So what: Revenue improved 71% to $937.1 million. Non-GAAP earnings more than doubled to $1.36 per share. Analysts were expecting $931.4 million and $1.05, respectively.
Now what: Those are excellent numbers, to be sure. Yet guidance seems to be what has captured the imagination of investors. SunPower raised its 2011 outlook to $2 and $2.20 per share on $2.8 to $2.95 billion in revenue, Reuters reports. An earlier forecast called for $1.75 to $2.05 a share on $2.65 to $2.85 billion in revenue.
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