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Actionable news in SPWR: SunPower Corporation,

SunPower (SPWR) Stock is the 'Chart of the Day'

NEW YORK (TheStreet) -- SunPower Corp. (SPWR - Get Report) stock is down by 2.50% to $29.26 in early afternoon trading on Monday.

Based in San Jose, CA, SunPower provides solar technology to residential, commercial and utility customers worldwide.

In December, solar stocks soared after Congress and President Barack Obama approved a $1.1 trillion budget that included the Solar Investment Tax Credit (ITC) extension, the AP reports. The law extended the 30% federal tax credit for solar companies for five additional years.

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"We have a fresh runway that will only accelerate the global energy transformation to clean, sustainable sources such as solar," SunPower CEO Tom Werner said in a statement after Congress approved the tax credit. "The ITC extension provides a sense of certainty that allows for new investments that might not have been possible...