5 Buzzing Stocks: Shutterfly Misses, Sunpower Juices Up
Shutterfly (NASDAQ:SFLY) estimates for fourth-quarter revenue and pretax profit really missed the mark. President and Chief Executive Jeffrey Housenbold said the shortfall was caused by a bad economy as well as sharp discounts by competitors during the holiday season.
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SunPower Corp. (NASDAQ:SPWRA) will pay $165 million in cash to buy Tenesol SA from Total SA (NYSE:TOT). Total SA, which already owns a majority of SunPower stock, will purchase 18.6 million shares of SunPower in a private placement priced at $8.80 share. Tenesol is a solar panel manufacturer operating in France and South Africa.
Visa (NYSE:V) announced it had decided to deposit $1.565 billion into the litigation escrow account previously established under the Company’s retrospective responsibility plan.
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