Home METALS Watch List: Plug Power Inc, Ballard Power Systems Inc. (USA), Hanwha Solarone Co Ltd, CVR Energy Inc

Watch List: Plug Power Inc, Ballard Power Systems Inc. (USA), Hanwha Solarone Co Ltd, CVR Energy Inc


Plug Power Inc (NASDAQ:PLUG) shares decreased 14.06% to $0.372. The company, on May 20, announced that the preferred stock  investment  by Air Liquide closed on May 16. Plug Power issued 10,431 shares of convertible Series C Preferred Stock to Air Liquide and realized $2,595,400 in gross proceeds from the stock sale.  The stock is entitled to receive dividends at a rate of 8 percent per year and is convertible into shares of common stock at a conversion price equal to $0.248794 per share.

Is PLUG a Buy After The Recent Fall? Find Out Here

Ballard Power Systems Inc. (USA) (NASDAQ:BLDP) shares dropped 12.87% to $1.76. The company, on May 28, announced the signing of a non-binding Memorandum of Understanding (MOU) with its partner Azure Hydrogen Corporation of Beijing, China (Azure), extending the scope of their collaboration to include fuel cell buses. The MOU with Azure envisions Ballard providing a manufacturing license agreement, engineering services, fuel cell stacks and components.

Hanwha Solarone Co Ltd (NASDAQ:HSOL) shares declined 11.64% to $1.67. The company on May 30 reported its unaudited financial results for the quarter ended March 31, 2013. The Company will host a conference call to discuss the results at 8:00 am Eastern Time (8:00 pm Shanghai Time) on May 30, 2013. Total net revenues were RMB1,112.9 million (US$179.2 million), an increase of 33.0% from RMB836.7 million in 4Q12, and an increase of 38.4% from RMB803.9 million in 1Q12. Net loss attributable to shareholders on a non-GAAP basis  was RMB202.9 million (US$32.7 million), compared with a net loss attributable to shareholders of RMB650.6 million in 4Q12 and a net loss attributable to shareholders of RMB269.9 million in 1Q12.

CVR Energy, Inc. (NYSE:CVI) shares dropped 1.03% and closed at $62.53 in the last trading session. The company on May 28 announced that its board of directors has declared a special dividend of $6.50 per share payable on June 10, 2013, to stockholders of record at the close of business on June 3, 2013.  The total amount of the special dividend payment will be approximately $564 million and brings the company’s cumulative dividends declared in 2013 to approximately $1.1 billion.