On the fears of a global recession, tightening credit, and falling (but still high) energy prices, UBS cut SunPower from "Neutral" to "Sell". Shares fell 11.9%.
CEO Thomas Werner stated he expected panel prices to drop 10 % to 20% in the next year, causing shares to drop.
SPWR shares rise 18% as it is announced that PG&E has contracted the company (along with private thin-film solar firm OptiSolar) for an 800 MW utility solar installation.
SunPower announces that it will build a 25 MW solar farm, which will be the largest PV farm in the U.S, as well as a smaller 10 MW farm for Florida Power & Light Company. Shares rise as investors get giddy at the prospects.
Sunpower may report a record profit after rising oil and gas costs increased demand for alternative energy systems from Italy to California.First-quarter net income probably rose to $12 million, or 14 cents a share, from $1.2 million, or 2 cents, a year earlier, according to the average of 12 analyst estimates compiled by Bloomberg. Sales likely soared 71 percent to $245 million, the data show.
GE and SunPower announce a partnership to build 8 MW worth of solar installations in California. Investors, waiting for the "solar bubble" to burst, are not thrilled.
Morgan Stanley and SunPower ink a deal to secure $190 million in funding for the SunPower Access program of commercial and public agency installations into 2008. Shares rise at excitement over potential future growth.
HP announces that it will be entering into an agreement with two alternative energy companies, SunPower being one, to expand renewable energy use. SunPower will be building a large-scale solar plant at HP's San Diego facility.
When the Solar Energies Industry Association warns that a new Congressional energy bill may leave out incentives for renewables, investors dump a number of solar stocks, causing SunPower to fall 11%.
SunPower signs an agreement with SMA Technologie AG to sell SMA's brand of solar power inverter. Shares fall as investors see a lost opportunity for SunPower to sell its own inverters.