Sec Form 13G Filing - SAC CAPITAL ADVISORS LLC filing for SUNPOWER CORP (SPWR) - 2007-02-14

Insider filing report for Changes in Beneficial Ownership

  • Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
  • Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934
                               (Amendment No. 1)*

                              SunPower Corporation
- --------------------------------------------------------------------------------
                                (Name of Issuer)

                              Class A Common Stock
- --------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                    867652109
                                    ---------
                                 (CUSIP Number)

                                December 31, 2006
                                -----------------
                      (Date of Event which Requires Filing
                               of this Statement)



Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

              [ ]     Rule 13d-1(b)
              [X]     Rule 13d-1(c)
              [ ]     Rule 13d-1(d)



*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).


                                  Page 1 of 12





- -------------------                                           ------------------
CUSIP No. 867652109                   13G                     Page 2 of 12 Pages
- -------------------                                           ------------------

- ---------- ---------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           S.A.C. Capital Advisors, LLC
- ---------- ---------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                      (a) [ ]
                                                                      (b) [X]
- ---------- ---------------------------------------------------------------------
        3  SEC USE ONLY

- ---------- ---------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           Delaware
- --------------------- ----- ----------------------------------------------------
                         5  SOLE VOTING POWER

                            0
NUMBER OF             ----- ----------------------------------------------------
SHARES                   6  SHARED VOTING POWER
BENEFICIALLY
OWNED                       1,260 (see Item 4)
BY                    ----- ----------------------------------------------------
EACH                     7  SOLE DISPOSITIVE POWER
REPORTING
PERSON                      0
WITH                  ----- ----------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            1,260 (see Item 4)
- ---------- ---------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           1,260 (see Item 4)
- ---------- ---------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           [ ]
- ---------- ---------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           Less than 0.01% (see Item 4)
- ---------- ---------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           00
- ---------- ---------------------------------------------------------------------

                       *SEE INSTRUCTION BEFORE FILLING OUT


                                  Page 2 of 12





- -------------------                                           ------------------
CUSIP No. 867652109                   13G                     Page 3 of 12 Pages
- -------------------                                           ------------------

- ---------- ---------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           S.A.C. Capital Management, LLC
- ---------- ---------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                      (a) [ ]
                                                                      (b) [X]
- ---------- ---------------------------------------------------------------------
        3  SEC USE ONLY

- ---------- ---------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           Delaware
- --------------------- ----- ----------------------------------------------------
                         5  SOLE VOTING POWER

                            0
NUMBER OF             ----- ----------------------------------------------------
SHARES                   6  SHARED VOTING POWER
BENEFICIALLY
OWNED                       1,260 (see Item 4)
BY                    ----- ----------------------------------------------------
EACH                     7  SOLE DISPOSITIVE POWER
REPORTING
PERSON                      0
WITH                  ----- ----------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            1,260 (see Item 4)
- ---------- ---------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           1,260 (see Item 4)
- ---------- ---------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           [ ]
- ---------- ---------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           Less than 0.01% (see Item 4)
- ---------- ---------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           00
- ---------- ---------------------------------------------------------------------

                       *SEE INSTRUCTION BEFORE FILLING OUT


                                  Page 3 of 12





- -------------------                                           ------------------
CUSIP No. 867652109                   13G                     Page 4 of 12 Pages
- -------------------                                           ------------------

- ---------- ---------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           S.A.C. Capital Associates, LLC
- ---------- ---------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                      (a) [ ]
                                                                      (b) [X]
- ---------- ---------------------------------------------------------------------
        3  SEC USE ONLY

- ---------- ---------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           Anguilla, British West Indies
- --------------------- ----- ----------------------------------------------------
                         5  SOLE VOTING POWER

                            0
NUMBER OF             ----- ----------------------------------------------------
SHARES                   6  SHARED VOTING POWER
BENEFICIALLY
OWNED                       0 (see Item 4)
BY                    ----- ----------------------------------------------------
EACH                     7  SOLE DISPOSITIVE POWER
REPORTING
PERSON                      0
WITH                  ----- ----------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            0 (see Item 4)
- ---------- ---------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           0 (see Item 4)
- ---------- ---------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           [ ]
- ---------- ---------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           0% (see Item 4)
- ---------- ---------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           00
- ---------- ---------------------------------------------------------------------

                       *SEE INSTRUCTION BEFORE FILLING OUT


                                  Page 4 of 12





- -------------------                                           ------------------
CUSIP No. 867652109                   13G                     Page 5 of 12 Pages
- -------------------                                           ------------------

- ---------- ---------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           CR Intrinsic Investors, LLC
- ---------- ---------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                      (a) [ ]
                                                                      (b) [X]
- ---------- ---------------------------------------------------------------------
        3  SEC USE ONLY

- ---------- ---------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           Delaware
- --------------------- ----- ----------------------------------------------------
                         5  SOLE VOTING POWER

                            0
NUMBER OF             ----- ----------------------------------------------------
SHARES                   6  SHARED VOTING POWER
BENEFICIALLY
OWNED                       0 (see Item 4)
BY                    ----- ----------------------------------------------------
EACH                     7  SOLE DISPOSITIVE POWER
REPORTING
PERSON                      0
WITH                  ----- ----------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            0 (see Item 4)
- ---------- ---------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           0 (see Item 4)
- ---------- ---------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           [ ]
- ---------- ---------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           0% (see Item 4)
- ---------- ---------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           00
- ---------- ---------------------------------------------------------------------

                       *SEE INSTRUCTION BEFORE FILLING OUT


                                  Page 5 of 12





- -------------------                                           ------------------
CUSIP No. 867652109                   13G                     Page 6 of 12 Pages
- -------------------                                           ------------------

- ---------- ---------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           CR Intrinsic Investments, LLC
- ---------- ---------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                      (a) [ ]
                                                                      (b) [X]
- ---------- ---------------------------------------------------------------------
        3  SEC USE ONLY

- ---------- ---------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           Anguilla, British West Indies
- --------------------- ----- ----------------------------------------------------
                         5  SOLE VOTING POWER

                            0
NUMBER OF             ----- ----------------------------------------------------
SHARES                   6  SHARED VOTING POWER
BENEFICIALLY
OWNED                       0 (see Item 4)
BY                    ----- ----------------------------------------------------
EACH                     7  SOLE DISPOSITIVE POWER
REPORTING
PERSON                      0
WITH                  ----- ----------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            0 (see Item 4)
- ---------- ---------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           0 (see Item 4)
- ---------- ---------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           [ ]
- ---------- ---------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           0% (see Item 4)
- ---------- ---------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           00
- ---------- ---------------------------------------------------------------------

                       *SEE INSTRUCTION BEFORE FILLING OUT


                                  Page 6 of 12





- -------------------                                           ------------------
CUSIP No. 867652109                   13G                     Page 7 of 12 Pages
- -------------------                                           ------------------

- ---------- ---------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           Steven A. Cohen
- ---------- ---------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                      (a) [ ]
                                                                      (b) [X]
- ---------- ---------------------------------------------------------------------
        3  SEC USE ONLY

- ---------- ---------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           United States
- --------------------- ----- ----------------------------------------------------
                         5  SOLE VOTING POWER

                            0
NUMBER OF             ----- ----------------------------------------------------
SHARES                   6  SHARED VOTING POWER
BENEFICIALLY
OWNED                       1,260 (see Item 4)
BY                    ----- -------------------------------------------
---------
EACH                     7  SOLE DISPOSITIVE POWER
REPORTING
PERSON                      0
WITH                  ----- ----------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            1,260 (see Item 4)
- ---------- ---------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           1,260 (see Item 4)
- ---------- ---------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           [ ]
- ---------- ---------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           Less than 0.01% (see Item 4)
- ---------- ---------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           IN
- ---------- ---------------------------------------------------------------------

                       *SEE INSTRUCTION BEFORE FILLING OUT


                                  Page 7 of 12





Item 1(a)           Name of Issuer:
                    --------------

                    SunPower Corporation

Item 1(b)           Address of Issuer's Principal Executive Offices:
                    -----------------------------------------------

                    3939 North First Street
                    San Jose, California 95134

Items 2(a)          Name of Person Filing:
                    ---------------------

                    This statement is filed by: (i) S.A.C. Capital Advisors,
                    LLC, ("SAC Capital Advisors") with respect to shares of
                    Class A common stock ("Shares"), of the Issuer beneficially
                    owned by S.A.C. Capital Associates, LLC ("SAC Capital
                    Associates"), S.A.C. MultiQuant Fund, LLC ("SAC MultiQuant")
                    and CR Intrinsic Investments, LLC ("CR Intrinsic
                    Investments"); (ii) S.A.C. Capital Management, LLC, ("SAC
                    Capital Management") with respect to Shares beneficially
                    owned by SAC Capital Associates, SAC MultiQuant and CR
                    Intrinsic Investments; (iii) SAC Capital Associates with
                    respect to Shares beneficially owned by it and CR Intrinsic
                    Investments; (iv) CR Intrinsic Investors, LLC ("CR Intrinsic
                    Investors") with respect to Shares beneficially owned by CR
                    Intrinsic Investments; (v) CR Intrinsic Investments with
                    respect to Shares beneficially owned by it; and (vi) Steven
                    A. Cohen with respect to Shares beneficially owned by SAC
                    Capital Advisors, SAC Capital Management, SAC Capital
                    Associates, SAC MultiQuant, CR Intrinsic Investors and CR
                    Intrinsic Investments.

                    SAC Capital Advisors, SAC Capital Management, SAC Capital
                    Associates, CR Intrinsic Investors, CR Intrinsic Investments
                    and Steven A. Cohen have entered into a Joint Filing
                    Agreement, a copy of which is filed with this Schedule 13G
                    as Exhibit 99.1, pursuant to which they have agreed to file
                    this Schedule 13G jointly in accordance with the provisions
                    of Rule 13d-1(k) of the Securities Exchange Act of 1934, as
                    amended.

Item 2(b)           Address of Principal Business Office:
                    ------------------------------------

                    The address of the principal business office of (i) SAC
                    Capital Advisors, CR Intrinsic Investors and Mr. Cohen is 72
                    Cummings Point Road, Stamford, Connecticut 06902, (ii) SAC
                    Capital Management is 540 Madison Avenue, New York, New York
                    10022, (iii) SAC Capital Associates is P.O. Box 58, Victoria
                    House, The Valley, Anguilla, British West Indies and (iv) CR
                    Intrinsic Investments is Box 174, Mitchell House, The
                    Valley, Anguilla, BWI.


                                  Page 8 of 12





Item 2(c)           Citizenship:
                    -----------

                    SAC Capital Advisors, SAC Capital Management and CR
                    Intrinsic Investors are Delaware limited liability
                    companies. SAC Capital Associates and CR Intrinsic
                    Investments are Anguillan limited liability companies. Mr.
                    Cohen is a United States citizen.

Item 2(d)           Title of Class of Securities:
                    ----------------------------

                    Class A Common Stock

Item 2(e)           CUSIP Number:
                    ------------

                    867652109

Item 3              Not Applicable

Item 4              Ownership:
                    ---------

                    The percentages used herein are calculated based upon the
                    Shares of Class A common stock issued and outstanding as of
                    November 9, 2006 as reported on the Issuer's quarterly
                    report on Form 10-Q filed with the Securities and Exchange
                    Commission by the Issuer for the quarterly period ended on
                    October 1, 2006.

                    As of the close of business on December 31, 2006:

                    1. S.A.C. Capital Advisors, LLC
                    (a) Amount beneficially owned: 1,260
                    (b) Percent of class: Less than 0.01%
                    (c) (i) Sole power to vote or direct the vote: -0-
                    (ii) Shared power to vote or direct the vote: 1,260
                    (iii) Sole power to dispose or direct the disposition: -0-
                    (iv) Shared power to dispose or direct the disposition:
                    1,260

                    2. S.A.C. Capital Management, LLC
                    (a) Amount beneficially owned: 1,260
                    (b) Percent of class: Less than 0.01%
                    (c) (i) Sole power to vote or direct the vote: -0-
                    (ii) Shared power to vote or direct the vote: 1,260
                    (iii) Sole power to dispose or direct the disposition: -0-
                    (iv) Shared power to dispose or direct the disposition:
                    1,260

                    3. S.A.C. Capital Associates, LLC
                    (a) Amount beneficially owned: -0-
                    (b) Percent of class: 0%
                    (c) (i) Sole power to vote or direct the vote: -0-
                    (ii) Shared power to vote or direct the vote: -0-
                    (iii) Sole power to dispose or direct the disposition: -0-


                                  Page 9 of 12





                    (iv) Shared power to dispose or direct the disposition: -0-

                    4. CR Intrinsic Investors, LLC
                    (a) Amount beneficially owned: -0-
                    (b) Percent of class: 0%
                    (c) (i) Sole power to vote or direct the vote: -0-
                    (ii) Shared power to vote or direct the vote: -0-
                    (iii) Sole power to dispose or direct the disposition: -0-
                    (iv) Shared power to dispose or direct the disposition: -0-

                    5. CR Intrinsic Investments, LLC
                    (a) Amount beneficially owned: -0-
                    (b) Percent of class: 0%
                    (c) (i) Sole power to vote or direct the vote: -0-
                    (ii) Shared power to vote or direct the vote: -0-
                    (iii) Sole power to dispose or direct the disposition: -0-
                    (iv) Shared power to dispose or direct the disposition: -0-

                    6.Steven A. Cohen
                    (a) Amount beneficially owned: 1,260
                    (b) Percent of class: Less than 0.01%
                    (c) (i) Sole power to vote or direct the vote: -0-
                    (ii) Shared power to vote or direct the vote: 1,260
                    (iii) Sole power to dispose or direct the disposition: -0-
                    (iv) Shared power to dispose or direct the disposition:
                    1,260

                    SAC Capital Advisors, SAC Capital Management, CR Intrinsic
                    Investors and Mr. Cohen own directly no Shares. Pursuant to
                    investment agreements, each of SAC Capital Advisors and SAC
                    Capital Management share investment and voting power with
                    respect to the securities held by SAC Capital Associates,
                    SAC MultiQuant and CR Intrinsic Investments. Pursuant to an
                    investment management agreement, CR Intrinsic Investors has
                    investment and voting power with respect to the securities
                    held by CR Intrinsic Investments. Mr. Cohen controls each of
                    SAC Capital Advisors, SAC Capital Management and CR
                    Intrinsic Investors. CR Intrinsic Investments is a wholly
                    owned subsidiary of SAC Capital Associates. By reason of the
                    provisions of Rule 13d-3 of the Securities Exchange Act of
                    1934, as amended, each of SAC Capital Advisors, SAC Capital
                    Management and Mr. Cohen may be deemed to own beneficially
                    1,260 Shares (constituting less than 0.01% of the Shares
                    outstanding). Each of SAC Capital Advisors, SAC Capital
                    Management, CR Intrinsic Investors and Mr. Cohen disclaim
                    beneficial ownership of any of the securities covered by
                    this statement, and SAC Associates disclaims beneficial
                    ownership of any of the securities held by CR Intrinsic
                    Investments.


                                 Page 10 of 12





Item 5              Ownership of Five Percent or Less of a Class:
                    --------------------------------------------

                    If this statement is being filed to report the fact that as
                    of the date hereof the reporting person has ceased to be the
                    beneficial owner of more than five percent of the class of
                    securities, check the following. [X]

Item 6              Ownership of More than Five Percent on Behalf of Another
                    --------------------------------------------------------
                    Person:
                    ------

                    Not Applicable

Item 7              Identification and Classification of the
                    ----------------------------------------
                    Subsidiary Which Acquired the Security Being
                    --------------------------------------------
                    Reported on By the Parent Holding Company:
                    -----------------------------------------

                    Not Applicable

Item 8              Identification and Classification of Members
                    --------------------------------------------
                    of the Group:
                    ------------

                    Not Applicable

Item 9              Notice of Dissolution of Group:
                    ------------------------------

                    Not Applicable

Item 10             Certification:
                    -------------

     By signing below the signatory certifies that, to the best of his knowledge
and belief, the securities referred to above were not acquired and are not held
for the purpose of or with the effect of changing or influencing the control of
the issuer of the securities and were not acquired and are not held in
connection with or as a participant in any transaction having that purpose or
effect.


                                 Page 11 of 12





                                    SIGNATURE
                                    ---------

     After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.

Dated:  February 14, 2007

S.A.C. CAPITAL ADVISORS, LLC


By: /s/ Peter Nussbaum
   ---------------------------
Name:   Peter Nussbaum
Title:  Authorized Person


S.A.C. CAPITAL MANAGEMENT, LLC


By: /s/ Peter Nussbaum
   ---------------------------
Name:   Peter Nussbaum
Title:  Authorized Person


S.A.C. CAPITAL ASSOCIATES, LLC

By: /s/ Peter Nussbaum
   ---------------------------
Name:   Peter Nussbaum
Title:  Authorized Person

CR INTRINSIC INVESTORS, LLC


By: /s/ Peter Nussbaum
   ---------------------------
Name:   Peter Nussbaum
Title:  Authorized Person

CR INTRINSIC INVESTMENTS, LLC


By: /s/ Peter Nussbaum
   ---------------------------
Name:   Peter Nussbaum
Title:  Authorized Person

STEVEN A. COHEN


By: /s/ Peter Nussbaum
   ---------------------------
Name:   Peter Nussbaum
Title:  Authorized Person


                                 Page 12 of 12