NEW YORK / ACCESSWIRE / June 20, 2014 / Market Buzz Report, which provides up to date coverage, commentary and alerts on OTC and NASDAQ Stocks, issues critical stocks analysis for Facebook Inc , Plug Power Inc, Ballard Power Systems Inc, Molycorp Inc.
Plug Power Inc. (NASDAQ:PLUG)’s shares dropped 6.93% to $4.70. The company on June 12 published comments on its blog regarding to the 2014 Green Retail Decisions (GRD) Innovation Summit. According to the blog, the main theme of the event was sharing best practices and collaboration among suppliers and retailers. Companies in attendance ranged from Wal-Mart to Home Depot to Family Dollar. The company also noted that a large range of organizations were interested in switching from the lead-acid batteries currently used on its forklift fleets to Plug's efficient, zero emission hydrogen fuel cells.
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Ballard Power Systems Inc. (USA)(NASDAQ:BLDP)’s shares dropped 3.13% to $4.02. The company on June 19 announced the signing of a definitive agreement with Azure Hydrogen (Azure) in relation to an assembly license for Telecom Backup Power systems for the China market. The agreement has a value of approximately $6 million over the 2014-15 period.
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John Sheridan, Ballard's President and Chief Executive Officer said, "The Telecom Backup Power market is a key growth driver for our business and is also a significant opportunity in China given the scale of the market and China's growing focus on clean energy technology."
Molycorp Inc. (NYSE:MCP)’s shares jumped 5.76% to $2.94. Molycorp’s stock was downgraded to Caa2 from Caa1 by Moody's, outlook stable on June 19. Moody's downgraded the corporate family rating of Molycorp to Caa2 from Caa1 and affirmed the B3 rating on the company's senior secured notes. Moody's also downgraded the probability of default rating to Caa2-PD from Caa1-PD, and changed the Speculative Grade Liquidity rating to SGL-4 from SGL-3. The outlook is stable.
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Additionally, the company on May 7 announced financial and operating results for the first quarter 2014. The Company reported first quarter product sales volume of 3,518 metric tons (mt), a 10% increase over the fourth quarter 2013, at an average selling price ("ASP") of $33.69 per kilogram. Net revenues for the first quarter were $118.5 million, a 4% decrease from the fourth quarter 2013. The Company reported a net loss of $0.40 per share for the quarter. The Company reported a net loss of $0.29 per share for the quarter on an adjusted non-GAAP basis.
Facebook Inc (NASDAQ:FB)’s shares fell 1.92% and closed at $64.34. Facebook suffered its longest and largest outage in years on June 19, disconnecting millions of users around the globe. Due to a technical failure, users were unable to access their accounts for about a half-hour starting at 4 a.m. ET. Facebook says it restored service in less than 30 minutes, but not before triggering widespread panic among Facebook users.
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Additionally, Facebook infringed on patents held by a Dutch computer programmer who tried to launch a similar site called "Surfbook" more than a decade ago, according to a lawsuit heard by a federal jury on June 11. The civil trial was underway in U.S. District Court in Alexandria, where social media giant Facebook is being sued by a holding company called Rembrandt Social Media. The lawsuit alleges that a Dutch computer whiz, Joannes Van Der Meer, filed for patents in 1998, claiming methods for running a web-based personal diary. The patents were issued in 2001 and 2002, before Facebook debuted in 2003.
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SOURCE: Market Buzz Report