Tallahassee, FL 2/17/12 (StreetBeat) -- SunPower Corp. (Nasdaq: SPWR), a solar panel company majority-owned by Total SA, rose as much as 24 percent after reporting better-than-estimated earnings.SunPower climbed as much as $1.83 to $9.31, the highest in nine months, at 10:01 a.m. in New York and has gained 49 percent this year.
Fourth-quarter profit was an adjusted 16 cents a share on sales of $563.4 million, San Jose, California-based SunPower said yesterday in a statement. Analysts had expected a loss of 6 cents, the average of 13 estimates compiled by Bloomberg. SunPower said 2012 sales will be in line with previous guidance of $2.6 billion to $3 billion.
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