24/7 Wall St. » FCEL

FuelCell Hammers Holders With Large Secondary Offering (FCEL)

Administrator — Thu, 22 Mar 2012 15:07:15 +0000

FuelCell Energy Inc. (NASDAQ: FCEL) is taking it on the chin this morning on news that the company is raising capital. A secondary offering of 20 million shares may sound like a huge offering, but the price was only at $1.50 per share against a prior close of $1.76. The news is hammering holders because the stock is down almost 11% at $1.58 on only about 3.5 million shares.

While the average daily volume is 2 million shares and while this is technically very active in trading comparisons to most days, the fact that you have not seen over 10 million shares trade hands after 90 minutes implies that the stock was not just flipped for a 7% gain by the investors who got the stock at the offering price. Yahoo! Finance lists the market cap without the impact of this offering as being about $222 million.

The net proceeds from the sale of the shares after all expenses is expected to be approximately $28.0 million and the underwriters were granted a 30-day option to purchase up to an additional 3,000,000 shares of common stock or roughly $4.5 million if exercised in full. The use of proceeds is for growth capital and general corporate purposes.

Lazard Capital Markets LLC was the sole book-running manager; Stifel Nicolaus Weisel was the co-lead manager; and FBR Capital Markets was the co-manager for the offering.

What is interesting is that this comes on the heels of a strong move upward from under $1.00 to about $1.90 before the recent pullback. This secondary hammered the buyers of recent days, but it looks to be very opportunistic by the company. The problem that is underlying here is simple: If management believed this was going to be a $2.00 stock, a $4.00 stock, or a much higher priced stock, then it wouldn’t dilute the float at only $1.50 per share.

JON C. OGG

Filed under: Alternative Energy, Green Biz, Secondary Offering Tagged: FCEL

24/7 Wall St. Closing Bell (TWX, DIS, PEP, KBH, FSLR, PLOW, FCEL, NNBR, VELT, HTH, ODC, MIDD, TODU, PCBC, ANTH, TZYM, CDTI)

Paul Ausick — Mon, 12 Mar 2012 20:06:38 +0000

US markets opened mixed this morning as there was not a big piece of news to drive investors in any particular direction. The Greek debt swap deal triggered a credit event and a payout to CDS holders last Friday (more coverage here) and new Greek bonds went on sale this morning a extraordinarily high yields (more coverage here). China reported a trade deficit last month, which weighed on Asia markets prior to this morning’s opening bell. Even the latest budget deficit report from the US Treasury didn’t get much of a reaction (more coverage here). Crude oil is lower today on the weak news from China, with WTI crude settling at $106.34/barrel, down -1%, and Brent crude trading at $125.38/barrel, down -0.5%. Gold settled at $1,699.80/ounce, down -0.7%, its first losing session following three straight winners.

The unofficial closing bells put the DJIA up nearly 38 points to 12,959.71 (0.29%), the NASDAQ fell nearly 5 points (-0.16%) to 2,983.66, and the S&P 500 rose 0.02% or less than 1 point to 1,371.09.

There were several analyst upgrades and downgrades today, including Time Warner Inc. (NYSE: TWX) cut to ‘neutral’ at Janney Capital; Walt Disney Co. (NYSE: DIS) raised to ‘buy’ at Janney Capital; Pepsico Inc. (NYSE: PEP) reiterated as ‘buy’ at Gabelli; KB Home (NYSE: KBH) raised to ‘overweight’ at Barclays; and First Solar Inc. (NASDAQ: FSLR) maintained as ‘hold’ by target price cut to $30 at Canaccord Genuity.

Earnings reports since markets closed last Friday have led to some price changes as of the last half hour of trading today: Douglas Dynamics Inc. (NYSE: PLOW) is up 1.7% at $13.16; Fuel Cell Energy Inc. (NASDAQ: FCEL) is up 10% at $1.65; NN Inc. (NASDAQ: NNBR) is down -7.2% at $7.83; Velti plc (NASDAQ: VELT) is up 24.6% at $12.24; Hilltop Holdings Inc. (NYSE: HTH) is up 2.4% at $8.41; Oil-Dri Corporation of America (NYSE: ODC) is up 1.6% at $20.25; and Middleby Corp. (NASDAQ: MIDD) is up 5% at $98.21 after posting a new 52-week high today of $101.72.

Other standouts from today include the following stocks:

Tudou Holdings Ltd. (NASDAQ: TUDO) is up 155% at $39.26 after posting a new 52-week high of $42.81. The Chinese online video company is merging with competitor Youku Inc. (NYSE: YOKU). More coverage here.

Pacific Capital Bancorp (NASDAQ: PCBC) is up 57% at $45.03 after posting a new 52-week high of $45.45 earlier this morning. The bank holding company is being acquired by Union Bank for $1.5 billion ($46/share).

Anthera Pharmaceuticals Inc. (NASDAQ: ANTH) is down more than -45% at $3.51 after posting a new 52-week low of $3.08 earlier this morning. The drug company has unexpectedly cancelled a heart drug trial because the drug does not work.

Tranzyme Inc. (NASDAQ: TZYM) is down nearly -42% at $2.98 after posting a new 52-week low of $1.68 earlier. The company’s bowel drug failed a phase III drug trial.

Clean Diesel Technologies Inc. (NASDAQ: CDTI) is up about 64% at $5.09. The biofuel maker reported a net profit for the fourth quarter, where a net loss was expected.

Stay tuned for Tuesday. We have noted the following events on the schedule (all times Eastern):

7:30 a.m. – National Federation of Independent Businesses small business confidence index
8:30 a.m. – Retail sales
10:00 a.m. – Business inventories
11:30 a.m. – 4-week Treasury bill auction
1:00 p.m. – 10-year Treasury note auction
2:15 p.m. – Federal Reserve FOMC meeting announcement

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: ANTH, CDTI, DIS, FCEL, FSLR, HTH, KBH, MIDD, NNBR, ODC, PCBC, PEP, PLOW, TODU, TWX, TZYM, VELT

Mid-day Movers (FIRE, HSTM, FCEL, NFX, CELL)

Paul Ausick — Wed, 22 Feb 2012 17:40:48 +0000

Just after noon ET today, all three major US stock indexes are showing losses, with the DJIA down about 49 points at about 12,916, the Nasdaq down nearly 18 points at 2,931, and the S&P 500 down more than 6 points to 1,356. After opening lower this morning, markets markets continued to slide on weak home sales and everyone remains concerned about what will happen in Greece. The dollar is stronger today, with the dollar index up 0.11% at 79.195. The stronger greenback is pushing some commodities up, with grains gaining the most.

Among the major movers at around noon today are Sourcefire Inc. (NASDAQ: FIRE), HealthStream Inc. (NASDAQ: HSTM), FuelCell Energy Inc. (NASDAQ: FCEL), Newfield Exploration Co. (NYSE: NFX), and Brightpoint Inc. (NASDAQ: CELL)

Sourcefire is up more than 23% at $44.20 after posting a new all-time high of $44.73 earlier this morning. Volume is nearly 9x the daily average of about 437,000 shares traded. The Internet security provider handily beat earnings and revenue expectations last night.

HealthStream is up nearly 23% at $21.31 after posting a new all-time high of $21.95 earlier today. Volume is about 4x the daily average of 200,000 shares traded. The Internet-based health learning company beat both EPS and revenue expectations in its most recent quarter.

FuelCell is up nearly 18% at $1.73. Volume is already nearly 5x the daily average of 1.2 million shares traded. The fuel cell maker has signed a joint venture deal to develop fuel cells in Europe and could benefit from a decision by Apple Inc. (NASDAQ: AAPL) to build a clean-energy data center in North Carolina.

Newfield is down nearly -12% at $37.33. Volume is about 3x the daily average of around 2.2 million shares traded. The independent oil & gas company missed EPS and revenue estimates last night.

Brightpoint is down more than -11% at $8.89. Volume is about 1.5x the daily average of 617,000 shares traded. The mobile-phone wholesaler has cut its outlook for 2012.

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: CELL, FCEL, FIRE, HSTM, NFX

Morning Movers (FIRE, FCEL, GRMN, LL, NFX)

Paul Ausick — Wed, 22 Feb 2012 15:17:37 +0000

The three major US equities indexes opened lower this morning as manufacturing data from Europe came in below expectations and the ratings cut to ‘CCC’ on Greek debt by Fitch Ratings has cooled expectations of Greece’s ability to meet its promises. In the first half hour of trading, the DJIA is up about 3 points at around 12,969, the Nasdaq Composite is lower by nearly 4 points at around 2,945, and the S&P 500 is down less than 1 point at around 1,362.

There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include the Sourcefire Inc. (NASDAQ: FIRE), FuelCell Energy Inc. (NASDAQ: FCEL), Garmin Ltd. (NASDAQ: GRMN), Lumber Liquidators Holdings Inc. (NYSE: LL), and Newfield Exploration Co. (NYSE: NFX).

Sourcefire is up more than 19% at $42.70 after posting a new 52-week high of $43.88 earlier. Volume is already about 3x the daily average of about 437,000 shares traded. The Internet security provider handily beat earnings and revenue expectations last night.

FuelCell is up nearly 13% at $1.66. Volume is already nearly double the daily average of 1.2 million shares traded. The fuel cell maker has signed a joint venture deal to develop fuel cells in Europe and could benefit from a decision by Apple Inc. (NASDAQ: AAPL) to build a clean-energy data center in North Carolina.

Garmin is up nearly 9% at $48.65 after posting a new 52-week high of $49.93 earlier. Volume is already about 3x the daily average of around 1 million shares traded. The GPS maker reported better-than-expected earnings and gave guidance above estimates. More coverage here.

Lumber Liquidators is down more than -12% at $18.85. Volume is already nearly equal to the daily average of around 358,000 shares traded. The hardwood floor retailer missed EPS estimates this morning and offered weak guidance.

Newfield is down more than -9% at $38.39. Volume is already equal to the daily average of about 2.2 million shares traded. The independent oil & gas company missed EPS and revenue estimates last night.

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: FCEL, FIRE, GRMN, LL, NFX

24/7 Wall St. Closing Bell (INTC, KALU, NOR, MA, V, BBY, FDS, FCEL, PTRY, MILL, LIVE, SYNO, RVSN, ECYT, IVN, GMCR, FST)

Paul Ausick — Tue, 13 Dec 2011 21:09:38 +0000

Stocks opened firmly higher this morning and the DJIA rose by more than 130 points in the first hour of trading. The dollar gained strength against the euro putting more enthusiasm into the market. Investors were also hoping that the Fed would indicate that a new round of quantitative easing would be available instantly if necessary. That didn’t work out however, and equities tumbled following the Fed’s mid-afternoon statement. Crude oil also rose on a threat from Iran to block the Strait of Hormuz. WTI crude is up more than 2%, at $99.81/barrel after topping $100 earlier in the day, and Brent crude is up 1.9% at 109.30/barrel. Gold is down nearly -2%, at $1,636.90.

The unofficial closing bells put the DJIA down more than 66 points to 11,954.94 (-0.55%), the NASDAQ fell nearly 33 points (-1.26%) to 2,579.27, and the S&P 500 fell -0.87% or nearly 11 points to 1,225.73.

There were several analyst upgrades and downgrades today, including Intel Corp. (NASDAQ: INTC) maintained ‘outperform’ but estimates cut at Credit Suisse and maintained ‘hold’ with a $24 price target at Canaccord Genuity. Other ratings actions today include Kaiser Aluminum Corp. (NASDAQ: KALU) started as ‘buy’ at BofA/Merrill Lynch; Noranda Aluminum Holding Corp. (NYSE: NOR) started as ‘buy’ at BofA/ML; Mastercard Inc. (NYSE: MA) and Visa Inc. (NYSE: V) both started as ‘buy’ at Nomura.

Here are today’s post-earnings news reactions with prices during the last half-hour of trading: Best Buy Co. Inc. (NYSE: BBY) is down more than -15.5% at $23.68 (more details here); FactSet Research Systems, Inc. (NYSE: FDS) is down more than -8% at $87.01; FuelCell Energy Inc. (NASDAQ: FCEL) is down more than -15% at $0.93; The Pantry Inc. (NASDAQ: PTRY) is down more than -12% at $10.41, after posting a new 52-week low earlier today of $9.52; and Miller Energy Resources, Inc. (NYSE: MILL) is down nearly -11% at $2.90.

Other standouts from today include the following stocks:

LiveDeal Inc. (NASDAQ: LIVE) is up more than 236%, at $4.88. The customer acquisition company issued 1.6 million shares of new stock, raising its capital by by $2 million and enabling it to meet Nasdaq listing requirements.

Synovis Life Technologies, Inc. (NASDAQ: SYNO) is up more than 50%, at $27.78. The medical device maker agreed to be acquired by Baxter International Inc. (NYSE: BAX) for $28/share, a 52% premium to the stock’s Monday closing price. The deal is worth $325 million.

RADVision Ltd. (NASDAQ: RVSN) is up more than 14%, at $9.62. The communications equipment maker is said to be an acquisition target for Avaya at a price of around $200 million.

Endocyte Inc. (NASDAQ: ECYT) is down more than -65%, at $3.56, a new 52-week low. The pharmaceutical maker announced that trials of a new cancer drug have not shown that the drug helps patients live longer.

Ivanhoe Mines Ltd. (NYSE: IVN) is down nearly -22%, at $16.16. The junior miner lost a court decision to Rio Tinto plc (NYSE: RIO) which essentially kills Ivanhoe’s poison pill plan. Rio owns 49% of Ivanhoe and can maintain that stake regardless of new share issuances until April 2013.

Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR) is down more than -11%, at $50.03. The coffee merchant has lost some market share for its single-cup coffee products, and prices are also falling.

Forest Oil Corp. (NYSE: FST) is down nearly -13%, at $14.01. The oil & gas E&P company announced its outlook for 2012, and analysts were disappointed with the level of capital expenditures and cash flows.

Stay tuned for Wednesday. Dennis Lockhart, president of the Atlanta Federal Reserve Bank, is giving a speech in the morning. Here are some other noteworthy events on the schedule (all times Eastern):

7:00 a.m. – Mortgage Bankers Association purchase applications
10:30 a.m. – EIA weekly petroleum status report
1:00 p.m. – 30-year Treasury bond auction

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: BBY, ECYT, FCEL, FDS, FST, GMCR, INTC, IVN, KALU, LIVE, MA, MILL, NOR, PTRY, RVSN, SYNO, V

Top Analyst Upgrades & Downgrades (ARUN, CMI, DMND, ENZN, FCEL, FIG, HLF, KFT, MYGN, NTAP, OIS, PMTC, PTR, PETD, SWFT)

Administrator — Wed, 15 Jun 2011 12:23:53 +0000

These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street research calls this Wednesday morning.

Aruba Networks, Inc. (NASDAQ: ARUN) Started as Buy at UBS.
Cummins, Inc. (NYSE: CMI) Reiterated Outperform as Bull of the Day at Zacks.
Diamond Foods, Inc. (NASDAQ: DMND) Started as Buy at Jefferies.
Enzon Pharmaceuticals, Inc. (NASDAQ: ENZN) Cut to Underperform as Bear of the Day at Zacks.
Fortress Investment Group (NYSE: FIG) Raised to Outperform at Credit Suisse.
FuelCell Energy Inc. (NASDAQ: FCEL) Maintained Buy with $3 target at Canaccord Genuity.
Herbalife Ltd. (NYSE: HLF) Reiterated Buy and raised target to $63 at Argus.
Kraft Foods Inc. (NYSE: KFT) Started as Buy at Jefferies.
Myriad Genetics Inc. (NASDAQ: MYGN) Raised to Buy at Auriga.
NetApp Inc. (NASDAQ: NTAP) Raised to Outperform at Credit Suisse.
Oil States International, Inc. (NYSE: OIS) Reiterated Strong Buy as Value at Zacks.
Parametric Technology Corporation (NASDAQ: PMTC) Reiterated Buy with $28 target at Canaccord Genuity.
PetroChina Co. Ltd. (NYSE: PTR) Raised to Buy at BofA/ML.
Petroleum Development Corporation (NASDAQ: PETD) Raised to Overweight at JPMorgan.
Swift Transportation Co., LLC (NYSE: SWFT) Raised to Overweight at JPMorgan.

You are invited to join our free daily email distribution list to hear more about analyst upgrades and downgrades, top day trader and active trader alerts, dividend trends, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Filed under: Analyst Calls Tagged: ARUN, CMI, DMND, ENZN, FCEL, FIG, HLF, KFT, MYGN, NTAP, OIS, PETD, PMTC, PTR, SWFT

Top Analyst Upgrades & Downgrades (AIG, BKH, BXP, CI, CME, FCEL, JRCC, LDK, MFB, WFR, MU, ORCL, SQI, SODA, SFG, UA, ZLC, ZIP)

Administrator — Fri, 10 Jun 2011 12:35:10 +0000

These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street research calls this Friday morning.

American International Group, Inc. (NYSE: AIG) Started as Buy at BofA/ML.
Black Hills Corporation (NYSE: BKH) Raised to Outperform but cut target to $33 at Credit Suisse.
Boston Properties Inc. (NYSE: BXP) Raised to Buy at Argus.
CIGNA Corporation (NYSE: CI) Raised to Outperform as Bull of the Day at Zacks.
CME Group Inc. (NYSE: CME) Raised to Buy at UBS.
FuelCell Energy Inc. (NASDAQ: FCEL) Maintained Buy but cut target to $3.00 at Canaccord Genuity.
James River Coal Co. (NASDAQ: JRCC) Cut to Strong Sell at S&P Equity Research (late-Thursday).
LDK Solar Co., Ltd. (NYSE: LDK) Reiterated Hold at Argus.
Maidenform Brands, Inc. (NYSE: MFB) Reiterated Strong Buy as Value at Zacks.
MEMC Electronic Materials Inc. (NYSE: WFR) Cut to Hold at Stifel Nicolaus.
Micron Technology Inc. (NYSE: MU) Raised to Outperform at Wells Fargo; Reiterated Buy and $14 target at Gleacher & Co.
Oracle Corporation (NASDAQ: ORCL) Reiterated Outperform as #1 pick with $42 target at Credit Suisse.
SciQuest, Inc. (NASDAQ: SQI) Started as Buy at Canaccord Genuity.
SodaStream International Ltd. (NASDAQ: SODA) Reiterated Buy as Aggressive Growth at Zacks.
StanCorp Financial (NYSE: SFG) Reiterated Underperform as Bear of the Day at Zacks.
Under Armour, Inc. (NYSE: UA) Raised to Buy at Stifel Nicolaus.
Zale Corporation (NYSE: ZLC) Cut to Neutral at BofA/ML.
Zipcar, Inc. (NASDAQ: ZIP) Raised to Overweight at JPMorgan.

JON C. OGG

Filed under: Analyst Calls Tagged: AIG, BKH, BXP, CI, CME, FCEL, JRCC, LDK, MFB, MU, ORCL, SFG, SODA, SQI, UA, WFR, ZIP, ZLC

Key Earnings to Watch This Coming Week (FCEL, PBY, THO, HOV, CIEN, LULU, NSM, TXN, FNSR)

Administrator — Fri, 03 Jun 2011 18:31:37 +0000

Earnings season has all but ended as far as the great market-movers. That does not mean that there are not some interesting companies reporting earnings that need to be watched. The corporate earnings reports that we will be watching are Fuelcell Energy Inc. (NASDAQ: FCEL), The Pep Boys – Manny, Moe & Jack (NYSE: PBY), Thor Industries Inc. (NYSE: THO), Hovnanian Enterprises Inc. (NYSE: HOV), Ciena Corporation (NASDAQ: CIEN), Lululemon Athletica Inc. (NASDAQ: LULU), National Semiconductor Corporation (NYSE: NSM), and Finisar Corporation (NASDAQ: FNSR).

We have added in Thomson Reuters estimates, added in price action, and added in color if appropriate on each. As a reminder, some of the days and estimates could have changed, and many may change before the actual reports.

Fuelcell Energy Inc. (NASDAQ: FCEL) is due on Monday and this one has been a disaster in alternative energy. We do not even care about the losses nor do we interpret anything that the company says as being a sector-moving event. All that matters is whether or not the company can reach profits by 2013 or so.

The Pep Boys – Manny, Moe & Jack (NYSE: PBY) is just one more auto parts company with earnings, but it is one which some investors are hoping is a buyout. Thomson Reuters has estimates of $0.30 EPS and $537.03 million in revenue; next quarter estimates are $0.25 EPS and $534.44 million in revenues. With shares around $13.60, the 52-week range is $7.86 to $15.96.

Thor Industries Inc. (NYSE: THO) is not about the movie, but it is about RVs. Thomson Reuters has estimates of $0.67 EPS and $848.92 million in revenue; next quarter estimates are $0.83 EPS and $869.73 million in revenues. With shares around $31.00, the 52-week range is $20.74 to $39.12.

Hovnanian Enterprises Inc. (NYSE: HOV) is due on Tuesday and we are not expecting anything of any merit other than from “other operations” as housing data just stinks now. Thomson Reuters has estimates of -$0.51 EPS and $263 million in revenue; next quarter estimates are -$0.38 EPS and $341.35 million in revenues. With shares around $2.46, the 52-week range is $2.31 to $6.19.

Ciena Corporation (NASDAQ: CIEN) is due Wednesday and the equipment maker could have some very volatile shares as traders will have very little else to focus on. Thomson Reuters has estimates of -$0.10 EPS and $428.1 million in revenue; next quarter estimates are $0.06 EPS and $456.42 million in revenues. With shares around $25.30, the 52-week range is $11.86 to $29.24.

Lululemon Athletica Inc. (NASDAQ: LULU) is due next Thursday and it has been impossible to not notice that the chart is becoming strained after a monster run up in the yoga and athletic-wear retailer. Thomson Reuters has estimates of $0.38 EPS and $180.91 million in revenue; next quarter estimates are $0.40 EPS and $196.95 million in revenues. With shares around $87.25, the 52-week range is $31.08 to $102.83. We do not expect that investors will be happy with a “meet and reaffirm guidance” quarter. As a reminder, we saw this as one of the top analyst calls of last week based upon its chart and valuation.

National Semiconductor Corporation (NYSE: NSM) is due next Thursday and we want to remind that this is only being evaluated for the Texas Instruments Inc. (NYSE: TXN) angle. Thomson Reuters has estimates of $0.27 EPS and $365.15 million in revenue; next quarter estimates are $0.29 EPS and $374.9 million in revenues.

Finisar Corporation (NASDAQ: FNSR) is due with earnings next Friday morning. Thomson Reuters has estimates of $0.33 EPS and $242.89 million in revenue; next quarter estimates are $0.38 EPS and $253.9 million in revenues. With shares around $21.57, the 52-week range is $11.98 to $46.09. Keep in mind that this one got killed last quarter as shares fell from $40 to $25 and its shares have traded in a range of $21 to $25 almost ever since.

You are invited to join our free daily email distribution list to hear more about analyst upgrades and downgrades, top day trader and active trader alerts, dividend trends, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Filed under: Calendar, Earnings, The Week Tagged: CIEN, FCEL, FNSR, HOV, LULU, NSM, PBY, THO, TXN

Another Cal-State University Moves to Fuel Cell Power (FCEL)

Administrator — Tue, 01 Feb 2011 14:29:09 +0000

FuelCell Energy Inc. (NASDAQ: FCEL) is running higher this morning on news that Southern California Edison Company has ordered a 1.4 megawatt DFC1500 fuel cell power plant to install as a utility-owned fuel cell on the campus of California State University, San Bernardino.

The ultra-clean electricity generated by the power plant will interconnect into the existing SCE distribution grid without a commensurate investment in the transmission and distribution grid. An aim is to cut the reliance on the power grid and the DFC1500 installation will use natural gas as the fuel source to generate this ultra-clean electricity with virtually zero pollutants.

California State San Bernardino will become the fifth California university with a DFC installation, representing eight megawatts in total power generation capacity. The unit is expected to be operational in early 2012.

No financial terms were disclosed. Shares are still showing thin trading volume right before the open. The initial news pop appeared to be up by double-digit percentages, but shares are up 4% at $1.82 right before the open. The 52-week trading range is $0.98 to $3.40 and the market cap was $215 million at yesterday’s close.

JON C. OGG

Filed under: Alternative Energy, Green Biz, Utilities Tagged: FCEL

Top Analyst Upgrades & Downgrades (AIB, AMAT, IRE, ENR, FCEL, GEOY, HBC, SNN, TEF, VVUS, WX)

Administrator — Tue, 03 Aug 2010 12:13:35 +0000

These are some of this Tuesday’s top analyst upgrades, downgrades, and initiations seen from Wall Street research calls:

Allied Irish Bank Group (NYSE: AIB) Cut to Hold and Target Cut to 1.02 (Euro) at RBS; Started as Outperform at Credit Suisse.
Applied Materials Inc. (NASDAQ: AMAT) Cut to Neutral at UBS.
Bank of Ireland (NYSE: IRE) Started as Outperform at Credit Suisse.
Energizer Holdings Inc. (NYSE: ENR) Raised to Overweight at Morgan Stanley.
FuelCell Energy Inc. (NASDAQ: FCEL) Started as Hold at Needham.
GeoEye, Inc. (NASDAQ: GEOY) Cut to Neutral at JPMorgan.
HSBC Holdings plc (NYSE: HBC) Cut to Hold at RBS.
Smith & Nephew plc (NYSE: SNN) Cut to Equal-weight at Morgan Stanley.
Telefonica, S.A. (NYSE: TEF) Cut to Hold at Citigroup.
VIVUS Inc. (NASDAQ: VVUS) Cut to Sell at Brean Murray.
WuXi PharmaTech Inc. (NYSE: WX) Raised to Buy at Jefferies.

You can join our free daily email distribution list to hear more about dividend trends, analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Filed under: Analyst Calls Tagged: AIB, AMAT, ENR, FCEL, GEOY, HBC, IRE, SNN, TEF, VVUS, WX