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SunPower Beats Estimates After Forming Solar Joint Venture

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SunPower Corp. rebounded from its first quarterly loss in two years as the second-largest U.S. solar-panel maker shifted its power-plant strategy.

Net income in the second quarter was $6.5 million for the second quarter, or 4 cents a share, down from $14.1 million, or 9 cents, a year earlier, San Jose, California-based SunPower said Tuesday in a statement. Excluding some items, it reported a profit of 18 cents a share, exceeding the 16-cent average of nine estimates compiled by Bloomberg.