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Plug Energy hydrogen supply truck.
Supply: Plug Energy
Take a look at the businesses making headlines in noon buying and selling.
Plug Energy – The gas cell maker’s shares slid 7.9% after Plug Energy mentioned it should restate monetary outcomes following accounting errors. In a submitting the corporate mentioned the errors are primarily associated to areas together with the impairment of sure long-lived belongings, in addition to loss accruals for sure service contracts. “There isn’t any anticipated affect to our money place, enterprise operations or economics of business preparations,” the corporate mentioned, including that the overview didn’t discover any misconduct.
Coupa Software program – Shares of the monetary administration software program firm dropped 4.8% even after a better-than-expected quarterly report. Coupa earned an adjusted 17 cents per share for its newest quarter, in comparison with expectations of an 11 cents per share loss, in line with Refinitiv. The corporate’s income additionally topped expectations.
Lennar — The homebuilder’s share value popped 13.8% after reporting robust quarterly outcomes. Lennar reported earnings per share of $2.04. Income got here in at $5.33 billion, topping estimates of $5.13 billion, in line with Refinitiv.
CrowdStrike Holdings – The safety software program inventory rose 6% after the corporate reported earnings that topped analysts’ estimates. CrowdStrike reported quarterly earnings of 13 cents per share, beating estimates by 5 cents, in line with Refinitiv. CrowdStrike additionally issued an upbeat outlook, projecting greater than $1 billion in income this yr.
Uber — Shares of the ride-hailing service dropped 4.2% Wednesday morning after the corporate mentioned it could grant U.Ok. drivers employee standing, minimal wage and sure advantages. Uber’s determination got here after the nation’s Supreme Court docket upheld a ruling {that a} group of drivers have been employees, not unbiased contractors.
McDonald’s — Shares of McDonald’s rose 1.9% in noon buying and selling after Deutsche Financial institution upgraded the worldwide burger chain to purchase and mentioned traders ought to see 11% upside over the subsequent yr. UBS additionally revealed a bullish notice on Wednesday and mentioned McDonald’s ought to proceed to see robust gross sales development all through 2021 due to its foray into hen sandwiches.
Coherent — The laser firm’s inventory value jumped 3.3% after Coherent mentioned it had acquired a revised takeover bid from optical parts maker Lumentum for $6.9 billion in money and inventory. That is the 8th bid for Coherent in a takeover contest involving Lumentum, II-VI and MKS Devices.
— with reporting from CNBC’s Yun Li, Pippa Stevens, Tom Franck and Jesse Pound.
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