Posts Tagged ‘CO’

Plug Power, Inc. (PLUG) shares soar 30 percent on Coca-Cola deal

Thursday, January 13th, 2011

Shares of power solutions provider, Plug Power, Inc. (Nasdaq: PLUG) surged 30 percent on Thursday after it was announced that Coca-Cola Refreshments USA (NYSE: CO) purchased 37 of Plug Power’s GenDrive fuel cells to power a new fleet of Caterpillar lift trucks at its 250,000 sq. ft. bottling and distribution center in San Leandro, CA.

“This is the second site in the Coca-Cola system to convert an existing lift truck fleet to GenDrive fuel cells,” said Andy Marsh, CEO at Plug Power in a statement. “It’s evidenced through these repeat customers the real value of the GenDrive solution. Hydrogen fuel cells are competing with the incumbent power sources and winning because they provide the most benefit for the organization. It’s a simple business decision.”

Plug Power’s GenDrive™ fuel cell is a superior alternative to lead-acid batteries for electric lift trucks.

Previously using lead-acid batteries as a power solution, Coca-Cola is making the transition to GenDrive to take advantage of the increased productivity and improved space utilization offered by the technology.

“Using Plug Power Fuel Cells for our fleet in the San Leandro facility is an example of this commitment,” said Brian P. Kelly, Product Supply Leader, Coca-Cola Refreshments, in a statement. “This innovative use of technology will help us reduce our carbon emissions, streamline our operations and work towards our aggressive environmental goals.”

Plug Power closed deals equating to over 400 GenDrive units in the fourth quarter alone. Some first-time customers include Coca-Cola and CVS.  Plug Power also received follow-on orders from repeat customers like BMW and Walmart Canada. Concluding the successful quarter, Plug Power received letters of commitment from customers for another 250-plus GenDrive power units.

Plug Power manufactured and shipped a record number of units for the full year ending December 31, 2010, meeting its milestone of at least 650 unit shipments for the year. The Company’s Latham, NY manufacturing facility is capable of producing over 10,000 units each year.

“I’m pleased with the continued commercial adoption of our GenDrive solution by new customers and the follow-on orders by existing customers,” Marsh said in a statement.

Shares of PLUG are up approximately 35 percent over the past three months, and recently traded for 61 cents per share.

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CO with healthy gain, C chugs, MSB suffers malaise

Thursday, December 16th, 2010

China Cord Blood Corporation (NYSE: CO) gained 13.12 percent in price Thursday to $3.62. Volume of 321,351 shares trumped its full-day average of 205,100. CO, the first and largest cord blood banking operator in China, today announced that the Company will hold its annual general meeting of record at the Company’s Hong Kong office on February 18, 2011

Citigroup, Inc. (NYSE: C) traded Thursday in 304,577,005 shares, rapidly catching up on its daily average of 544,597,000. Share prices lurched backward 0.65 per cent, to $4.56.

Mesabi Trust (NYSE: MSB) surrendered 13.47 percent Thursday to $46.00. Volume of 1,367,117 shares more than tripled its full day average. MSB is a stock, with various holding interests in iron ore properties.

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IIIIU, CARV end week in orbit, BAC big seller, CO sinks

Friday, November 5th, 2010

Information Services Group Inc. (NasdaqGM: IIIIU) rocketed up 91.45 percent in Friday trading to close at $8.73. Volume was 65,393 shares, although the stock’s three-month daily average was not available at press time. The Stamford, Connecticut-based information-based services company has announced the release of third-quarter financial results, slated for after the close of trading Tuesday, November 9.

Carver Bancorp., Inc. (NasdaqGM: CARV) jumped 64.37 percent to close Friday’s trading at $3.27, on volume of 22,988 shares, towering over its three-month volume average of 1,429.Carver Bancorp, Inc. is the holding company for Carver Federal Savings Bank, a federally chartered stock savings bank, founded in 1948 to serve African-American communities. Friday, the Company reported a net loss of $23.4 million for the second quarter of fiscal 2011 compared to a net loss of $300,000 for the second quarter of fiscal 2010 and a loss of $2.5 million for the first quarter of fiscal 2011.

Bank of America Corporation (NYSE: BAC) was among the volume leaders Friday, selling in 404,415,995 shares, compared to its three-month average of 186,392,000 shares. BAC gained a respectable 1.9 percent on the day to close at $12.36. The share volume follows word that BAC and Citigroup Inc. are considering whether to let employees use the Apple Inc. phone as an alternative to Research In Motion Ltd.’s BlackBerry for corporate e-mail.

China Cord Blood Corporation (NYSE: CO) hurtled earthward 29.86 percent in price to close Friday at $3.97. Volume was 4,643,558 shares, around 100 times its normal daily volume average. The company, which operates a blood bank in China for umbilical cord blood, announced it was pricing a sale of 8.1 million shares at a steep discount.

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Posted in Consumer Discretionary Stocks, Financial Stocks, Health Care Stocks | No Comments »