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Stock Market & Financial Investment News

News Breaks
August 13, 2014
10:01 EDTABY, DWRE, ESS, FCEL, REEDOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Abengoa Yield (ABY) upgraded to Overweight from Equal Weight at Morgan Stanley... Demandware (DWRE) upgraded to Buy from Neutral at Goldman... Essex Property Trust (ESS) at RBC Capital... Ford (F) upgraded at Stifel... FuelCell (FCEL) upgraded to Outperform from Market Perform at Cowen... Reed's (REED) upgraded to Buy from Neutral at Sidoti.
News For ABY;DWRE;ESS;FCEL;REED From The Last 14 Days
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October 30, 2014
16:05 EDTESSEssex Property Trust increases FY14 core FFO guidance to $8.43-$8.52
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16:04 EDTESSEssex Property Trust reports Q3 FFO $2.08, consensus $1.91
The company increased same-property gross revenues and net operating income by 7.4% and 9.4%, respectively.
06:52 EDTDWREDemandware, SunBridge establish JV in Japan
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October 29, 2014
16:49 EDTFCELFuelCell announces manufacturing expansion to reduce costs
FuelCell Energy announced a two stage expansion project to improve manufacturing and logistics efficiencies and position the company for continued global growth. The existing manufacturing facility in Torrington, Connecticut, will be expanded in the first stage and production equipment will be added in the second stage. The State of Connecticut has extended a financial package through the Department of Economic and Community Development for both stages, including $20M of low interest long-term loans and up to $10M of tax credits, predicated on certain terms and conditions, including the forgiveness of 50% of the loan principal if certain job retention and job creation targets are reached. The first stage involves the expansion of the existing 65,000 square foot manufacturing facility by 90,000 square feet for a total size of 155,000 square feet. Initially, this additional space will be used to enhance and streamline logistics functions and provide the space needed to reconfigure the existing production process to improve manufacturing efficiencies and realize cost savings. The company expects to enter into a long term lease of up to 15 years as part of this expansion. The cost of the first stage construction is expected to be funded by a mix of private capital and State financial support. Construction is expected to be completed by early 2016. Additionally, plans for the second stage include the installation of a megawatt scale tri-generation fuel cell plant to power and heat the facility as well as provide hydrogen for the manufacturing process of the fuel cell components, and the creation of advanced technology testing and prototype manufacturing. In addition, the final stage of the fuel cell module manufacturing will be relocated to the Torrington facility from its current location at the Danbury, Connecticut headquarters, which will reduce logistics costs.

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