Enphase Energy jumps more than 25% after Q3 earnings, microgrid news

Enphase Energy Inc. ENPH, +28.20% banal rallied much than 25% connected Wednesday, poised for its highest adjacent since Jan. 7 and its largest one-day percent summation since March 2020. The banal was the champion performing successful the S&P 500 scale SPX, -0.02% connected Wednesday. The vigor absorption exertion institution precocious Tuesday reported third-quarter net good supra Wall Street expectations, saying it earned an adjusted 60 cents a stock connected income of $352 cardinal successful the quarter, compared with forecasts for adjusted net of 49 cents a stock connected income of $345 million. Enphase earlier this week announced a caller star microinverter for its customers successful North America, saying the instrumentality was susceptible of forming a microgrid during a powerfulness outage utilizing lone star powerfulness and providing backup powerfulness without a battery.