Unusually active option classes on open February 14th » 09:4002/1402/14/20
AVXL, INO, CGC, FEYE, CRON, SDC, WMT, FCEL, LYFT, TLRY
Unusual total active…
Unusual total active option classes on open include: Anavex (AVXL), Inovio (INO), Canopy Growth (CGC), FireEye (FEYE), Cronos Group (CRON), SmileDirectClub (SDC), Wal-Mart (WMT), FuelCell (FCEL), Lyft (LYFT), and Tilray (TLRY).
FuelCell closes tax equity sale-leaseback financing » 08:4602/1302/13/20
FuelCell Energy announced…
FuelCell Energy announced that the Company closed on a tax equity sale-leaseback financing transaction for the 2.8 MW Tulare BioMAT Project in Tulare, California with Crestmark Equipment Finance, a division of Metabank. Crestmark's commitment totals $14.4 million through a ten-year sale-leaseback structure and further demonstrates the market's interest in FuelCell Energy and our sustainable energy platforms. Adding this operating asset to the Company's generation portfolio is expected to yield recurring revenue in excess of $2.5 million per year and increases the Company's operating assets to 28.9 MW. The Company has another 44.3 MW in backlog, in various stages of development and construction with commercial operation dates ranging from 2020 through 2022. The net proceeds to the Company from the financing, after deducting an initial down payment on the lease, taxes and transaction costs, totaled approximately $10.5 million. Under the terms of the Company's senior secured credit facility with Orion Energy Partners Investment Agent, LLC and its affiliated lenders, the net proceeds of $10.5 million were deposited into a restricted cash account for future distribution at the discretion of Orion for use to construct another project, for working capital support or for repayment of principal under the Orion facility. Initial distributions will include $1 million to a module reserve account for the benefit of Orion under the terms of the credit agreement. In addition, approximately $3.0 million of proceeds will be released to fund interest due under the Orion credit facility as well as certain reserves, interest and accrued and unpaid dividends for on the Series B Preferred Stock issued by the Company and the Series 1 Class A Preferred Stock Shares issued by FCE FuelCell Energy Ltd. and guaranteed by the Company.
|Over a week ago|
Largest borrow rate increases among liquid names » 08:4502/0302/03/20
WFC, MET, STT, AUPH, FCEL, JCI, MTCH, KBH, MJ
Latest data shows the…
Latest data shows the largest indicative borrow rate increases among liquid option names include: Wells Fargo (WFC) 1.85% +1.60, MetLife (MET) 1.85% +1.60, State Street (STT) 1.85% +1.60, Aurinia Pharmaceuticals (AUPH) 3.04% +0.30, FuelCell (FCEL) 18.27% +0.24, Direxion S&P Biotech Bull 3X (LABU) 1.65% +0.23, Johnson Controls (JCI) 0.42% +0.17, Match Group (MTCH) 7.12% +0.15, KB Home (KBH) 0.36% +0.08, and ETFMG Alternative Harvest ETF (MJ) 2.59% +0.07.
FuelCell downgraded to Sell at Craig-Hallum » 09:2101/2301/23/20
As previously reported,…
As previously reported, Craig-Hallum analyst Eric Stine downgraded FuelCell to Sell from Hold with a price target of $1.50, up from 50c. The analyst notes that while the company does not lack substantial opportunities, it remains a business in transition. Along with Q4 results that were below expectations and included a quarter over quarter decline in backlog, FuelCell introduced its "Powerhouse" 3-year strategy to strengthen and build a sustainable business, he notes. Stine believes many of the steps targeted are strategically sound but will take time and must be successfully executed upon. As such, he thinks that there is a level to get constructive on FuelCell shares and its products, projects, partners and technology, but at current levels, shares are very over-extended.
FuelCell downgraded to Sell from Hold at Craig-Hallum » 07:1701/2301/23/20
Craig-Hallum analyst Eric…
Craig-Hallum analyst Eric Stine downgraded FuelCell to Sell from Hold with a $1.50 price target.
Fly Intel: Wall Street's top stories for Wednesday » 16:4701/2201/22/20
IBM, NFLX, JNJ, AAPL, DIS, ETN, BA, TSLA, ABT, NAVI, ARNC, FCEL, NTRS
Stocks were rebounding…
FuelCell plunges on bigger than expected loss, revenue miss » 14:1401/2201/22/20
Shares of FuelCell (FCEL)…
Fly Intel: Wall Street's top stories at midday » 12:1201/2201/22/20
NFLX, IBM, AAPL, ETN, ABT, NAVI, ARNC, FCEL, NTRS
Stocks are rebounding…
Fly Intel: Pre-market Movers » 09:1601/2201/22/20
AKCA, TSLA, ABT, ALLY, IBM, NFLX, BKR, FCEL, ZION, ARNC, EFC
HIGHER: Akcea Therapeutics (AKCA), up 16% after announcing topline results from the Phase 2 study of AKCEA-APOCIII-LRx in the treatment of patients with hypertriglyceridemia who are at risk for or have established cardiovascular disease. The study met the primary endpoint of significant triglyceride lowering and multiple secondary endpoints with a favorable safety and tolerability profile... Tesla (TSLA), up 4% after Wedbush analyst Daniel Ives said he believes the stock will not disappoint Tesla bulls next week when the company reports earnings and gives guidance, noting that underlying strength in demand in China and Europe look robust based on his analysis. The analyst, who thinks Tesla's delivery guidance is likely to be strong and believes the China opportunity is worth "at least $100 per share," or $300 in a bull case scenario, raised his price target on Tesla shares to $550 from $370 ahead of earnings. Ives, whose new long term bull case scenario on the stock is $900, maintains a Neutral rating on Tesla shares. UP AFTER EARNINGS: Abbott (ABT), up 1%... Ally Financial (ALLY), up 3%... IBM (IBM), up 3%. DOWN AFTER EARNINGS: Baker Hughes (BKR), down 1%... FuelCell (FCEL), down 20%... Zions Bancorp (ZION), down 4%. LOWER: Arconic (ARNC), down 1% after Longbow analyst Chris Olin says he believes shares could lose up to $400M of previously expected commercial aerospace revenue in CY20. In a research note to investors, Olin, who made no change to his Neutral rating, says recent communications between Boeing (BA) and its main global suppliers suggests the OEM is likely to issue conservative 737 production targets for CY20, starting at 21/month followed by a shift to 28/month... Ellington Financial (EFC), down 2% after 4.6M share Spot Secondary priced at $18.29.
FuelCell launches new "Powerhouse" business strategy » 07:0601/2201/22/20
FuelCell Energy announced…
FuelCell Energy announced the details of its new "Powerhouse" business strategy, which is focused on the fundamental pillars of Transform, Strengthen, and Grow. "We have launched a series of strategic initiatives to strengthen our financial and operational position, which we believe will enable the Company to deliver current projects on time and budget and set the stage for future growth. As we enter 2020, our recent performance indicates that we are on the right track. We are implementing a comprehensive strategy to strengthen and grow FuelCell Energy by executing on our core business, building on customer relationships, delivering and expanding our project backlog, and developing and commercializing new technologies, products and markets. Our "Powerhouse" business strategy consists of three fundamental pillars: Transform, Strengthen, and Grow," said Jason Few. Transform: Much of our transformation strategy has already been accomplished, including the following: Restructured management, secured funding, restructured organization, delivered cost savings, refinanced debt. With our transformation already well underway, we are now fully committed to delivering on the remaining two pillars of the Powerhouse strategy: Strengthen: Capital deployment: Continue to focus on disciplined capital deployment and obtaining lower-cost, long-term financing and tax equity for completed generation projects. Commercial excellence: Build on customer relationships and extend our customer-centric reputation. Operational excellence: Implement a rigorous approach to project backlog execution and on-time, on-budget delivery. Cost reductions: Continued focus on lean resource management and cost reduction opportunities. Grow: Sales growth: Increase global product sales to key strategic customers, grow service revenue through pricing strategy and enhanced energy solutions, and reduce the cost of ownership for our customers. Innovation: Increase product life and reliability, and expand commercialization of new technologies such as carbon capture, hydrogen, biofuels, long-term energy storage, and solid oxide systems. Segment leadership: Capitalize on our expertise and competitive advantages in key addressable markets-biofuels, microgrid development, and the expanding hydrogen economy for industry, transportation and electric power generation. Education: Ensure federal, state and local legislators, regulators and environmental organizations understand the environmental benefits, grid reliability advantages and multi-featured capabilities of the FuelCell SureSource platforms. Geographic and market expansion: Continue to develop new clean and renewable energy partnerships to advance carbon capture, hydrogen and multi-fuel/biofuel technology, and pursue growth around the world.