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

Author: Anusuya Lahiri | October 01, 2021 06:23am

SunPower Corp (NASDAQ:SPWR) will replace Cimarex Energy Co (NYSE: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 (NYSE: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.