SunPower Shares Pop As It Sets To Join S&P MidCap 400

SunPower Corp SPWR will replace Cimarex Energy Co XEC in the S&P MidCap 400 effective before the opening of trading on October 5.
SunPower is a vertically integrated solar module manufacturer and systems installer. Its Q2 revenue of $308.9 million missed the consensus of $327.3 million. The Q2 EPS of $0.06 beat the consensus of $0.04.
S&P 500 constituent Cabot Oil & Gas Corp COG is acquiring Cimarex Energy in a deal likely to close on October 1.
Price Action: SPWR shares traded higher by 8.95% at $24.71 in the premarket session on the last check Friday.