SolarEdge And Enphase Fall In Sympathy With Sunpower: Here's What To Know
Portfolio Pulse from Ryan Gustafson
Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) and Enphase Energy, Inc. (NASDAQ:ENPH) fell in sympathy with SunPower (NASDAQ:SPWR), which reported weak preliminary Q2 2023 results and updated guidance. SunPower's Q2 revenue is expected to be $464 million, lower than the estimated $483.76 million. For FY 2023, SunPower anticipates a net loss of between $70 million and $90 million. Enphase and SolarEdge are set to report their Q2 earnings on July 27 and August 1, respectively.
July 26, 2023 | 7:18 pm
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NEGATIVE IMPACT
Enphase shares fell following SunPower's weak Q2 results. The company is set to report its Q2 earnings on July 27.
Enphase's stock price fell in response to SunPower's weak Q2 results, indicating that investors may be concerned about the overall solar sector's performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
SolarEdge shares fell following SunPower's weak Q2 results. The company is set to report its Q2 earnings on August 1.
SolarEdge's stock price fell in response to SunPower's weak Q2 results, indicating that investors may be concerned about the overall solar sector's performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
SunPower reported weak preliminary Q2 2023 results and updated guidance, leading to a drop in its share price.
SunPower's weak Q2 results and updated guidance for FY 2023 have negatively impacted its stock price.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100