SunPower stock falls 12% on weak revenue guidance

SunPower (SPWR.US) stock plunged more than 12% after the solar company posted mixed quarterly figures. The company earned 14 cents in the fourth quarter, which came in above analysts' expectations of 11 cent per share profit. However revenue of $341.8 million missed Wall Street forecasts of $354.2 million. The company also issued weaker-than-expected guidance for the first quarter expects revenue in the range of $270 million to $330 million. The midpoint of $300 million is below analyst estimates of $329 million.

SunPower (SPWR.US) stock launched today's session with a bearish price gap and is currently testing major support at $38.19. If the current sentiment prevails, then downward move could be extended to the $33.22 handle. However, if buyers will manage to regain control, then another upward impulse towards resistance at $42.46 could be launched. Source: xStation5

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