Why SunEdison (SUNE) Stock Is Down Today

NEW YORK (TheStreet) -- SunEdison (SUNE) was falling -2% to $19.61 Friday following SunPower's (SPWR) mixed second quarter results and low guidance.

For the second quarter SunPower reported earnings of 28 cents a share and revenue of $621.1 million. Analysts surveyed by Thomson Reuters expected earnings of 25 cents a share and revenue of $623.54 million for the quarter.

SunPower said it expects earnings of 15 cents to 35 cents a share and revenue of $600 million to $650 million for the third quarter. Both midpoints are below analysts' expectations of earnings of 29 cents a share and $636.8 million in revenue.

Solar stocks including SunEdison, First Solar (FSLR), and Trina Solar (TSL) are falling following SunPower's results.

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TheStreet Ratings team rates SUNEDISON INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:

"We rate SUNEDISON INC (SUNE) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, poor profit margins, weak operating cash flow and feeble growth in its earnings per share."

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