Maxeon Solar Technologies (NASDAQ: MAXN) reported Q1 revenue of $187.46M, missing estimates. EPS loss of $(1.59) also missed. Quarterly shipments declined 37%. Maxeon projects lower Q2 and FY24 revenue and significant investment from shareholder.
Maxeon's Chief Executive Officer Bill Mulligan noted, "Maxeon has been facing a very difficult market environment since the third quarter of last year, with challenging industry pricing conditions and
Wall Street experienced a muted session on Wednesday morning as traders adopted a cautious stance ahead of the Federal Reserve meeting minutes release at 2 p.m. EDT and Nvidia Corp.