Plug Power Hydrogen Supply Truck.
Source: Plug Power
Check out the companies that own the noon trade.
Plug Power: Fuel cell maker shares fell more than 16% after Plug Power said it would reconfirm financial results after accounting errors. In a file, the company said the errors relate primarily to areas that include impairment of certain long-term assets, as well as to accruals of losses for certain service contracts. “No impact is expected on our cash position, business operations or the economy of trade agreements,” the company said, adding that the review found no misconduct.
Coupa Software: The shares of the financial management software company fell more than 7%, even after a better-than-expected quarterly report. Coupa gained 17 cents per share adjusted during its last quarter, compared to expectations of a loss of 11 cents per share, according to Refinitiv. The company’s revenue also exceeded expectations.
Lennar – The builder’s stock price rose about 7% after reporting strong quarterly results. Lennar reported earnings per share of $ 2.04. According to Refinitiv, revenue stood at $ 5.33 billion, exceeding estimates of $ 5.135 billion.
CrowdStrike Holdings: Security software shares rose about 0.3% after the company reported earnings that exceeded analysts ’estimates. CrowdStrike reported quarterly earnings of 13 cents per share, beating estimates by 5 cents, according to Refinitiv. CrowdStrike also issued an optimistic outlook, projecting more than $ 1 billion in revenue this year.
Uber: Travel assistance service shares fell 4.7% Wednesday morning after the company said it would grant worker status to British drivers, the minimum wage and certain benefits. Uber’s decision came after the country’s Supreme Court upheld the ruling that a group of drivers were workers and not independent contractors.
McDonald’s: McDonald’s shares rose 1.6% in midday trading after Deutsche Bank upgraded the global burger chain to buy and said investors should see an 11% rise during the next year. UBS also released a bullish note on Tuesday and said McDonald’s should continue to experience strong sales growth throughout 2021 thanks to its foray into chicken sandwiches.
Coherent – The laser company’s share price rose 2.8% after Coherent said it had received a revised takeover bid from optical components maker Lumentum for $ 6.9 billion in cash and shares. This is the eighthth tender by Coherent in a tender for the acquisition of Lumentum, II-VI and MKS Instruments.
– with reports from Yun Li, Pippa Stevens, Tom Franck and CNBC’s Jesse Pound.