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Stock Market & Financial Investment News

News Breaks
November 29, 2012
14:36 EDTPLUG, PGPlug Power selected for additional Procter & Gamble site
Plug Power (PLUG) announced that Procter & Gamble (PG) has selected its GenDrive fuel cell products to power its electric lift truck fleet in its manufacturing facility located in Mehoopany, PA. This additional facility now brings to four the number of sites converting to GenDrive fuel cells. Over 340 units will now be deployed throughout Procter & Gamble's manufacturing infrastructure, Plug Power said.
News For PLUG;PG From The Last 14 Days
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September 29, 2014
10:24 EDTPLUGPlug Power highlights work within auto industry
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06:03 EDTPLUGStocks with implied volatility movement; ANR PLUG
Stocks with implied volatility movement; Alpha Natural (ANR) 104, Plug Power (PLUG) 87 according to iVolatility.
September 25, 2014
10:28 EDTPGProcter & Gamble, Hasbro face tax probe in Mexico, Reuters says
Mexico's Oscar Molina, who previously said seven multinationals were the focus of a government probe of companies that may have been exploiting loopholes to avoid paying sufficient taxes, has now said he is in advanced discussions with two companies to pay more tax for prior years, and five sources have told Reuters those two are Procter & Gamble (PG) and Hasbro (HAS). Reference Link
September 24, 2014
11:54 EDTPLUGStocks with call strike movement; HLF PLUG
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06:42 EDTPGMore e-commerce start-ups undercutting established firms, NY Times says
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September 23, 2014
16:20 EDTPLUGOn The Fly: Closing Wrap
Stocks on Wall Street were lower after the U.S. took new action to clamp down on tax inversion deals and led airstrikes against Islamic State militants in Syria, while Europe reported weaker than expected manufacturing data. ECONOMIC EVENTS: In the U.S., the FHFA's home price index rose 0.1% in July to 212.7, missing expectations for an increase of 0.5%. Markit's preliminary manufacturing Purchasing Managers' Index for September came in at 57.9, slightly below the consensus forecast for a 58.0 reading. In China, HSBC's flash manufacturing PMI rose to 50.5 from a final reading of 50.2 in August, better than expectations. In Europe, Markit's composite flash PMI for the eurozone dipped to a nine-month low of 52.3, missing expectations for it to hold steady with its 52.5 reading for August. COMPANY NEWS: The shares of a number of companies that have announced or been speculated as targets in tax inversion deals fell after the U.S. Treasury last night issued new regulations that will make such deals less attractive. AstraZeneca (AZN), which has previously turned down an offer to be acquired by the U.S.'s Pfizer (PFE), sank $3.54, or 4.74%, to $71.13 despite a Bloomberg report that said Pfizer is still considering pursuing a deal with the U.K. drugmaker. AbbVie (ABBV), which has a deal in progress to acquire Shire (SHPG) and thus move its tax domicile to Ireland, fell $1.15, or 1.96%, to $57.56, while Shire shares slid $5.56, or 2.17%, to $250.74. Medtronic (MDT), which is pursuing its own inversion deal with Covidien (COV), dropped $1.90, or 2.88%, to $64.08. MAJOR MOVERS: Among the notable gainers was Herbalife (HLF), which rose $3.88, or 9.65%, to $44.09, bouncing back from a pullback yesterday that had been attributed to rumors of Carl Icahn selling out of his stake in the company. Also higher was Plug Power (PLUG), which rose 40c, or 9.57%, to $4.58 after the company's CEO gave FY15 revenue guidance that was above the consensus Street view in an interview with the Albany Business Review. Among the noteworthy losers was Ascena Retail (ASNA), which dropped $2.78, or 16.82%, to $13.75 after the apparel retailer's fourth quarter results and fiscal 2015 profit outlook trailed analysts' consensus estimates. Also lower were shares of used car retailer CarMax (KMX), which fell $5.01, or 9.49%, to $47.80 after the company reported sluggish comparable used car sales in its second quarter. INDEXES: The Dow declined 116.81, or 0.68%, to 17,055.87, the Nasdaq dropped 19.00, or 0.42%, to 4,508.69, and the S&P 500 fell 11.52, or 0.58%, to 1,982.77.
14:26 EDTPLUGPlug Power CEO sees FY15 revenue of $130M, Albany Biz Review says
Plug Power CEO Andy Marsh sees its new agreement with M&T Bank to offer financing packages for its GenKey systems to allow customers to decide more quickly on purchases, which will help the company accelerate its revenue, reported Albany Business Review, citing an interview with Marsh. Marsh said the new financing will help Plug generate more than $75M in revenue this year and that the company is "on track to do $130M in revenue in 2015," the report added. Consensus estimates for Plug Power's revenue in FY14 and FY15 are $75.93M and $126.37M, respectively. Reference Link
09:01 EDTPGDistrict court rules in favor of P&G on patent infringement case
In a series of rulings this summer, culminating with a ruling issued on September 15th, the federal District Court for the Southern District of Ohio ruled that Clio USA’s tooth whitening strip products infringe several P&G patents related to P&G’s Crest Whitestrips products. The Court also rejected Clio’s arguments that the patents are invalid.
08:00 EDTPGSpectrum Brands to acquire P&G's European pet food business
Procter & Gamble (PG) announced that Spectrum Brands (SPB) has agreed to buy IAMS and EUKANUBA brands in Europe for an undisclosed amount. In April, P&G announced the sale to Mars of 80% of its global Pet Care business, including North America and Latin America. Europe was not included in that deal with the exception of Russia and Turkey. Mars later agreed to buy an additional 10% of the business in additional markets including Japan, Australia and South Africa. With the Spectrum transaction, P&G now has closed deals or reached agreements to sell 100% of its Pet Care business. The deal will close in 2015, subject to regulatory approvals. The geographic regions included in the acquisition, which account for approximately 10% of P&G’s former pet care global sales, include 42 markets throughout Europe. The business has approximately $200M of annual sales and will provide Spectrum Brands’ United Pet Group division access to the $21B European dog and cat food market which is growing at an estimated 3%-5% annually. The acquisition has been approved by Spectrum Brands' board.
September 22, 2014
06:16 EDTPLUGPlug Power implied volatility of 82 at upper end of index mean range
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September 20, 2014
22:05 EDTPGClorox turned down offer to sell or merge with rival, NY Post says
In the last three to six months consumer packaged-goods company Clorox (CLX) turned down an offer from a rival interested in a sale or merger, says the NY Post, citing sources. The NY Post added that logical suitors for Clorox include Church & Dwight (CHD), Procter & Gamble (PG), Jarden (JAH) and Unilever (UN,UL). Reference Link

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