Tag Archives: Plug Power Inc

Doximity is a buy here

Penn National Gaming: “That stock has been crushed. it’s down more than 40%. I have to tell you, we’re in the height of the gambling season coming up. Penn Nat and DraftKings, they may go down later, but right now I think to sell them is a mistake. Whoa, they’re bad, but to sell them here is a mistake.”

GlaxoSmithKline: “GSK has got a 5% yield, is trying to bring out value. I think it’s doing OK. Not great. Not bad. I think it’s OK to own. Income is important.”

Asana: “I actually think that people are saying, ‘You know what, I think it’s too expensive versus Salesforce, and Salesforce just did OK. Let’s own Salesforce and not that one.’ That’s kind of been the way this market is working.”

Doximity: “I like Doximity. … Doctors love it. They communicate with it, and it does not stop going down. But again, this fits this pattern I’ve been talking about the whole show. We’re trying to find footing for these [kinds of stocks]. They’re very expensive stocks. We’re closer to a bottom than we were a week ago. I think Doximity is a buy here.”

TG Therapeutics: “[CEO] Mike Weiss has not been on since the stock was at like $4. … Biotech has found very little bottom here, but TG Therapeutics, actually nothing is really wrong. They’ve actually done OK. But they got some price target cuts. They made a couple of mistakes. Let’s get Mike on … and we’ll find out what’s going on.”

Plug Power: “It’s part of our [CNBC Next Generation 50 index]. Plug Power needs a better rate environment. It actually needs interest rates to go down for it to go higher, and we don’t have that right now. But I’m not going to tell you to sell Plug Power in the $30s. I think you can sell it in the $40s for a trade.”

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Cramer’s lightning round: Nokia is a buy

Clover Health: “Why do you want to traffic in Clover? No, thank you. That’s a two-leaf clover. I don’t like their business model … go into UnitedHealth.”

Nokia: “They’re making a comeback … at $5.80, believe it or not … Nokia’s a buy.”

Clean Energy Fuels: “Long-term spec.”

Plug Power: “Jimmy Chill says, ‘during the first week of August, Plug Power reports, and if they screw up then I’m going to have to bring me the head of [CEO] Andrew Marsh because they have got to put up good numbers. They have to … They must put up good numbers.”

Inseego: “[CEO] Dan Mondor has worn me out. That has been a series of broken dreams, that stock. And I’m done with the broken-dream stocks.”

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Fastly has room to run to the upside

Fastly: “I like it, but it’s caught up in the Zoom, Peloton, you know it’s caught up in the Zscaler. It’s regarded as a high-multiple stock, but I wouldn’t sell it here. I think this one has room to run to the upside. Maybe not all the way back, but certainly to the upside.”

Taiwan Semiconductor: “Taiwan Semi’s got so many orders, don’t know what to do with it. I would buy it at these levels.”

Retractable Technologies: “I think that this kind of stock right now is not going to be working and I would not be a buyer of Retractable.”

Canoo: “Let’s have them on the show, but this group has become very, very tough … I have to just say right now there are other ways to make money that are easier.”

Nio: “Nio’s got to come down. I mean, there’s just too much hot money in some of these. I recognize that [but] that doesn’t mean I don’t like the company.”

Plug Power: “I’ve got to get them on … We’ve got to find out what the hell is going on.”

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Plug Power, Coupa Software, Lennar and more

Plug Power hydrogen delivery truck.

Source: Plug Power

Check out the companies making headlines in midday trading.

Plug Power – The fuel cell maker’s shares slid more than 16% after Plug Power said it will restate financial results following accounting errors. In a filing the company said the errors are primarily related to areas including the impairment of certain long-lived assets, as well as loss accruals for certain service contracts. “There is no expected impact to our cash position, business operations or economics of commercial arrangements,” the company said, adding that the review did not find any misconduct.

Coupa Software – Shares of the financial management software company dropped more than 7% even after a better-than-expected quarterly report. Coupa earned an adjusted 17 cents per share for its latest quarter, compared to expectations of an 11 cents per share loss, according to Refinitiv. The company’s revenue also topped expectations. 

Lennar — The homebuilder’s share price popped nearly 7% after reporting strong quarterly results. Lennar reported earnings per share of $2.04. Revenue came in at $5.33 billion, topping estimates of $5.13 billion, according to Refinitiv.

CrowdStrike Holdings  – The security software stock rose about 0.3% after the company reported earnings that topped analysts’ estimates. CrowdStrike reported quarterly earnings of 13 cents per share, beating estimates by 5 cents, according to Refinitiv. CrowdStrike also issued an upbeat outlook, projecting more than $1 billion in revenue this year.

Uber — Shares of the ride-hailing service dropped 4.7% Wednesday morning after the company said it would grant U.K. drivers worker status, minimum wage and certain benefits. Uber’s decision came after the country’s Supreme Court upheld a ruling that a group of drivers were workers, not independent contractors.

McDonald’s — Shares of McDonald’s rose 1.6% in midday trading after Deutsche Bank upgraded the global burger chain to buy and said investors should see 11% upside over the next year. UBS also published a bullish note on Wednesday and said McDonald’s should continue to see strong sales growth throughout 2021 thanks to its foray into chicken sandwiches.

Coherent — The laser company’s stock price jumped 2.8% after Coherent said it had received a revised takeover bid from optical components maker Lumentum for $6.9 billion in cash and stock.  This is the 8th bid for Coherent in a takeover contest involving Lumentum, II-VI and MKS Instruments.

— with reporting from CNBC’s Yun Li, Pippa Stevens, Tom Franck and Jesse Pound.

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