SunPower Shares Fall After Cutting 2012 Sales Forecast

SunPower Corp. (SPWR), the solar-panel company majority-owned by Total SA (FP), fell the most in six months after it cut its 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.

To contact the reporter on this story: Ehren Goossens in New York at egoossens1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.