Shares of SunPower (SPWRA) began diving yesterday even before the announcement was made. Then the reason for the selling became apparent a few hours later as the company . The company now expects lower gross margins and a wide loss on the quarter due to tough conditions in Germany and Italy. Now the company expects gross margins to come in at 12-13% vs the previous estimate for 15-17% and as a result a much larger loss of .19 .20/share vs the previous estimate for a smaller loss of .05/share to a possible gain of up to .10/share.

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