Qualcomm Names Steve Mollenkopf CEO and President
SunPower Shares Fall After Cutting 2012 Sales Forecast
SunPower dropped 10 percent to $4.20 at the close in New York, the most since Feb. 7. The shares have dropped 33 percent this year.
Revenue for 2012 will range from $2.4 billion to $2.6 billion, San Jose, California-based SunPower said in a statement yesterday after the close of regular trading on U.S. markets, compared with a May 3 forecast of $2.6 billion to $3 billion.
The company’s second-quarter loss narrowed to $84.2 million, or 71 cents a share, from $147.9 million, or $1.51, a year earlier. Analysts were expecting a loss of 85 cents, the average of seven estimates compiled by Bloomberg.
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