Traders Applauding SunPower's Purchase of SunRay; Is This the Start of Consolidation in the Sector? (SPWRA, STP, FSLR, more)

In a move even a mother would be proud of, SunPower Corp. (NASDAQ: SPWRA) today made a stand and said, "We're more than just a pretty ticker, we have substance too!"

What kind of substance? Merger substance, and right now it looks like their cupeth overflow.

The company announced that they are acquiring SunRay Renewable Energy, one of Europe's leading solar power plant developers with offices in Europe and the Middle East, including a principal project office in Rome.

Investors -- normally a reserved bunch in the face of a cash-draining acquisition -- are cheering the move today; the stock is up 5.44% to $20.15 in the mid-afternoon session. In addition to this news, traders in the solar sector are also responding to earnings from Akeena Solar (Nasdaq: AKNS) and JA Solar (Nasdaq: JASO). Around the sector:

• JA Solar up 7.1% to $4.99
  
• Akeena Solar down 4.4% to $1.09
  
• Suntech Power Holdings Co. Ltd. (NYSE: STP) is up 1.22% to $13.26
  
• First Solar, Inc. (NASDAQ: FSLR) is up 3.97% to $113.67
  
• Energy Conversion Devices, Inc. (NASDAQ: ENER) up 3.14% to $7.89
  
• Yingli Green Energy (NYSE: YGE) up 0.9% to $12.39

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