Axiom Capital Provides Color on SunPower

Axiom Capital provided color on SunPower SPWRA. In a research report published today, the rating agency commented on the company's new guidance for the Q2 results. In the report, Axiom Capital states, “The company now expects its second-quarter non-GAAP gross margin to be in the range of approximately 12 percent to 13 percent, compared to its previously announced outlook of 15 percent to 17 percent. The company also expects its non-GAAP earnings per share for the quarter to be a loss of approximately ($0.19) to ($0.20) from its previous outlook of ($0.05) to $0.10 per share. Preliminary second quarter results reflect a shift in product mix related to market conditions in Germany and recent policy changes in Italy.” On Monday, SPWRA lost 6.45% of its value to finish the day at $20.88. Its shares continued to slide in today's pre-market trading, falling 3.64% to stand around $20.12.