VALENCE TECHNOLOGY INC – announces earning call
Valence Technology, Inc. (NASDAQ: VLNC), an international developer of safe lithium phosphate energy storage solutions, is trading flat following the Company’s July 23, 2008 announcement that it will conduct a conference call to discuss its first quarter fiscal 2009 financial results on August 7, 2008, at 3:30 p.m. CDT (4:30 p.m. EDT). To read the entire story, click here:
QUANTUM FUEL SYSTEMS TECHNOLOGIES WORLDWIDE – Ships hydrogen storage units to Suzuki Motor Corp.
Quantum Fuel Systems Technologies Worldwide, Inc. (Nasdaq: QTWW) is trading up slightly following the Company’s July 23, 2008 announcement that it has designed, developed and shipped a new generation of ultra light weight advanced composite hydrogen storage units for Suzuki Motor Corporation’s Fuel Cell Vehicle Program. These unique systems for Suzuki were developed, analyzed, and tested to meet the Japanese
The higher fuel density capability of Quantum’s hydrogen tank systems allows efficient on-board packaging without intrusion into passenger and cargo areas, while providing uncompromising range. Quantum’s new generation of Type IV (polymer lined, all composite) ultra-light weight tank has been successfully tested and validated to operating conditions beyond current industry and government standards. High capacity of the Quantum systems allow extended driving range. These systems exhibit exceptional fast-fill performance and low permeation levels. Quantum was also able to achieve further reductions in material cost and improvements in both material utilization and manufacturing efficiency compared with previous generation tanks. To read the entire story, click here:
PLUG POWER – Discloses Directors departure, one lands CEO job, the other cites personal reasons.
Plug Power (Nasdqa: PLUG) is trading off 2% following the Company’s disclosure in a Form 8K filing with the SEC on July 21, 2008 that two of it’s directors, Sergey Batekhin and Lisa Rosenblum have resigned from their positions with the company. It further disclosed that Mr. Batekhin has accepted the position of Chief Executive Officer of Norilsk Nickel, the world’s leading producer of nickel and palladium, a job that would require his full attention. To read the entire story, click here:
EXCELON CORPORATION – Nuke profits help Excelon’s Second Quarter Results
Exelon Corporation (NYSE: EXC) shares are trading down 3.79% despite positive second quarter results released July 23, 2008. The Company’s second quarter 2008 consolidated earnings prepared in accordance with GAAP were $748 million, or $1.13 per diluted share, compared with earnings of $702 million, or $1.03 per share, in the second quarter of 2007.
Exelon’s adjusted (non-GAAP) operating earnings for the second quarter of 2008 were $746 million, or $1.13 per diluted share, compared with $700 million, or $1.03 per diluted share, for the same period in 2007. “Our strong second quarter results primarily reflected higher margins at Generation largely due to our first-rate operating performance. We also continue to realize the benefits of a large fleet of extremely well-run nuclear plants amid rising environmental pressures,” said John W. Rowe, Exelon’s chairman, president and CEO. “We recognize, however, that protecting these benefits requires that we actively meet our customers’ needs for affordable energy in a climate constrained environment. As a result, last week we announced a comprehensive strategy to reduce, offset or displace more than 15 million metric tons of greenhouse gas emissions by 2020 with both efficiency and new sources of supply.” To read the entire article, click here:
RASER TECHNOLOGIES – Short list announcement offset by new Piper Jaffray “sell” rating
Raser Technologies (NYSE/Arca: RZ) is trading off 5.47% despite announcing on July 23, 2008 that it has been short-listed on its bid to sell geothermal power to a major California utility. The California utility has accepted Raser’s offer to sell baseload geothermal renewable energy at a price in excess of $100 per megawatt hour with a 1% annual increase over a 20 year term. Raser will complete negotiations and finalize the terms of the power purchase agreement over the next several months.
At the same time Piper Jaffray was initiating coverage on Raser with a “Sell” rating and a target price of $7 commenting, “Although state Renewable Portfolio Standards (RPS) in the Western U.S. create solid business opportunities for Raser, we believe the risk associated with their new plant technology and with geothermal resource exploration are not fully reflected in the current share price.” To read the entire story, click here:
APPLIED MATERIALS – Breaks ground on new plant to build Thin Film Solar manufacturing equipment
Applied Materials, Inc. (Nasdaq:AMAT ) is trading up 1.41% following the Comany’s July 22, 2008 announcement regarding the groundbreaking for an expansion project of its Tainan Manufacturing Center. This expansion, with a total investment estimated at around US$17 million, will increase the company’s ability to meet the demand for both its AKT flat panel display equipment and SunFabTM Thin Film Solar manufacturing equipment. The new facility is expected to be completed by the middle of next year. To read the entire story, click here: .
