Shares of SolarEdge Technologies Inc.
dropped more than 20% in the extended session Wednesday after the solar-power company swung to a surprise loss in the third quarter, saying it faced a slowdown in solar installations, and called for sharply lower sales in the current quarter. SolarEdge lost $61.2 million, or $1.08 a share, in the quarter, contrasting with net earnings of $24.7 million, or 43 cents a share, in the year-ago quarter. Adjusted for one-time items, the company lost 55 cents a share. Revenue dropped 27% to $725.
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