Capstone Green Energy Corp (fka CGRNQ)

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Fuel Cell Stocks May Rebound: Plug Power Inc (PLUG), Ballard Power Systems Inc. (USA) (BLDP), FuelCell Energy Inc (FCEL), Capstone Turbine Corporation (CPST)

by Mena Callahan / April 16, 2014


Fuel cell stocks traded lower Tuesday after a resumed slide in momentum shares. US stocks finished higher after a wild swing down led by tech stocks that saw the Nasdaq Composite index lower by nearly 2 per cent at one point.

Wall Street rose a second day, after equities posted the worst week since 2012, as earnings from Coca-Cola Co. and Johnson & Johnson overwhelmed concerns that tensions in Ukraine are worsening.

“The market is all over the place, everyday it is the same thing. The market doesn’t seem to be trading on fundamentals right now, but on intraday momentum”, said Steven Rosen, of Societe Generale.

While equity returns will slow in coming years because of relatively higher valuations, the selloff in technology stocks will likely be contained, according to Cliff Asness, founder and chief investment officer at AQR Capital Management.

Plug Power Inc (NASDAQ:PLUG) plunged 4.51%, FuelCell Energy Inc (NASDAQ:FCEL) dropped 0.86%, Ballard Power Systems Inc. (USA) (NASDAQ:BLDP) tumbled 6.17% and ZBB Energy Corporation (NYSEMKT:ZBB) lost 9.37% whereas Capstone Turbine Corporation (NASDAQ:CPST) grew 3.52%.

Almost all these were on up, as of this writing, after Ballard Power Systems unveiled it plans to hold a conference call to disucess first quarter 2014 operating results on Tuesday, April 29, 2014 at 8:00 a.m. PST (11:00 a.m. EST).

“There still seems to be some concern about valuation in some corners of the market, especially some of the more high-flying names that had run pretty far, pretty fast, and that’s putting an overall weight on the market,” said Brad Sorensen, director of market and sector analysis at the Schwab Center for Financial Research.

The subsequent bounce-back left the Dow Jones Industrial Average in the green at the end, up 89.32 points (0.55 per cent) to 16,262.56. The broad-based S&P 500 jumped 12.37 (0.68 per cent) to 1842.98, while the Nasdaq Composite put on 11.47 (0.29 per cent) at 4034.16.

What Next?

“Stocks are having meaningful moves in both directions because people are nervous on both sides,” Michael James, a Los Angeles-based managing director of equity trading at Wedbush Securities Inc., said in a phone interview. “Subjectivity plays such a pivotal role, and emotions, in what’s been going on in this market that it’s hard to pinpoint what causes a turn in the direction.”

“As long as the market can close on a positive note, it sends a signal to investors that there are bargains in the market still to be had,” said Quincy Krosby, market strategist at Prudential Financial.

http://www.marketsemerging.com/fuel-cell-stocks-may-rebound-plug-power-inc-plug-ballard-power-systems-inc-usa-bldp-fuelcell-energy-inc-fcel-capstone-turbine-corporation-cpst/177164/