Plug Power hydrogen delivery truck.
Source: Plug Power
Look at the companies that make headlines in the afternoon trading.
Plug Power – The stock of the fuel cell manufacturer decreased by 7.9% after Plug Power said it would recover financial results after accounting errors. In a statement, the company said the errors were mainly related to areas, including the impairment of certain long-lived assets, as well as loss proceeds for certain service contracts. “There is no expected impact on our cash position, business operations or the economy of commercial arrangements,” the company said, adding that the misconduct found no misconduct.
Coupa Software – Shares of the financial management software company fell 4.8%, even after a better-than-expected quarterly report. According to Refinitiv, Coupa earned 17 cents per share for its last quarter, compared to expectations of a loss of 11 cents per share. The company’s revenue also outperformed.
Lennar – The homebuilder’s share price rose 13.8% after reporting strong quarterly results. Lennar reported earnings of $ 2.04 per share. Revenue is $ 5.33 billion, according to Refinitiv.
CrowdStrike Holdings – The security software stock rose 6% after the company reported its earnings above analysts’ estimates. According to Refinitiv, CrowdStrike earned quarterly earnings of 13 cents a share, beating estimates by 5 cents. CrowdStrike also posted an optimal outlook, forecasting more than $ 1 billion in revenue this year.
Uber – Shares in the ride service fell 4.2% on Wednesday morning after the company said it would grant driver status, minimum wage and certain benefits to UK drivers. Uber’s ruling comes after the country’s high court upheld the ruling that a group of executives were workers, not independent contractors.
McDonald’s – Shares in McDonald’s rose 1.9% during afternoon trading after Deutsche Bank upgraded the global civic chain to buy, saying investors should see an 11% upturn in the next year. UBS also published a clumsy note on Wednesday, saying McDonald’s will have strong sales growth during 2021, thanks to the resort to chicken sandwiches.
Coherent – The share price of the laser business rose 3.3% after Coherent said it had received a revised $ 6.9 billion takeover bid from Lumentum for optical components in cash and stock. This is the 8de offers an offer for Coherent in a takeover contest involving Lumentum, II-VI and MKS Instruments.
– with coverage of OilGasJobz’s Yun Li, Pippa Stevens, Tom Franck and Jesse Pound.