Key Earnings, News Developments: FreeSeas Inc, ReneSola Ltd, Rite Aid Corporation, BP plc, Plug Power Inc
NEW YORK, December 6, 2013 /PRNewswire/ --
Market Buzz Report, an online portal for penny stock investors, issues key stock analysis for BP plc (NYSE: BP), ReneSola Ltd. (NYSE: SOL), FreeSeas Inc (NASDAQ: FREE), Plug Power Inc(NASDAQ: PLUG), Rite Aid Corporation (NYSE: RAD).
Three years after the Deepwater Horizon disaster, BP plc (ADR)(NYSE: BP) is leading an industry charge to develop technology that can retrieve oil from formations that are so deep under the sea floor, and under such high pressure and temperature, that conventional equipment would melt or be crushed by the conditions. BP's Tiber field in the Gulf of Mexico makes the Macondo field look like a mere puddle; it is about twice as deep - 35K ft. below the sea floor - and is thought to hold 20x the amount of oil. Another disaster could threaten BP's existence, but success could restore its fortunes and perhaps its reputation: "There's 10B-20B barrels of oil just for BP in this" - worth up to $2T at today's prices - says Kevin Kennelly, who runs BP's global technology operations.
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In its Q3 report, ReneSola Ltd. (NYSE: SOL) states it has decided to "permanently cease production" at its Phase I polysilicon plant, following unsuccessful effort to lower its cost structure. A $202.8M charge is being taken on the plant's assets. The company saw Q3 wafer/module shipments of 851MW, roughly flat Q/Q but above guidance of 730MW-750MW. Module shipments rose 6.6% Q/Q to 462.9MW, and are expected to be in a range of 490MW-510MW in Q4.ReneSola is upping its full-year wafer/module shipment range to 3GW-3.1GW from a prior 2.8GW-3GW.Q3 gross margin was 8.1%, up from 7.3% in Q2 and -18% a year ago (no typo), and in-line with guidance of 7%-9%. Investors may have wanted more in light of the big GM gains posted by some peers. Q4 GM is expected to be in a range of 9%-11%.Strong sales to the U.S. and other overseas markets improved ReneSola's ASPs; the company sees the trend continuing in Q4.Cash/equivalents totaled $438.5M at the end of Q3, and total debt/borrowings $1.53B.
Free Urgent Insider Catalyst Report for SOL Available Here: http://marketbuzzreport.com/index.php?code=SOL (Or Copy and paste the URL into your browser)
FreeSeas Inc (NASDAQ: FREE) shares gained 9.32% to $1.29 in the pre-market hour. The company on Dec. 2 announced today the Company's Amended and Restated Articles of Incorporation were amended to effect a reverse stock split of the Company's issued and outstanding common stock at a ratio of one new share for every 5 shares currently outstanding. The Company anticipates that its common stock will begin trading on a split adjusted basis when the market opens on December 2, 2013. FreeSeas' common stock will continue to trade under the symbol "FREE." The common shares will also trade under a new CUSIP number Y26496300.
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Plug Power Inc (NASDAQ: PLUG) shares surged 40% to $1.77. The company on Dec. 4 will host conference call and webcast during which CEO Andy Marsh will provide business update for Plug Power and the Company's expectations for the remainder of 2013 and for 2014.
Free Urgent Insider Catalyst Report for PLUG Available Here: http://marketbuzzreport.com/index.php?code=PLUG (Or Copy and paste the URL into your browser)
Since the October 8th business update call, the Company has seen an additional 17.8M USD in bookings. Plug Power is currently in negotiations with several large customers on sales agreements to deploy turn-key GenDrive solutions at multiple distribution centers. The Company believes this will significantly impact the fourth quarter bookings, as well as provide a recurring revenue stream from product, service and hydrogen contracts. Plug Power expects orders to range between 30M and 40M USD for the fourth quarter of 2013.
Rite Aid Corporation (NYSE: RAD) reports same store sales rose 2.8% Y/Y in November. Front-end same store sale registered a 0.4% gain, while pharmacy sales increased 3.9% despite a negative impact from new generic drugs on the market. The comparisons for the month were boosted by the negative impact of Superstorm Sandy during last year.
Free Urgent Insider Catalyst Report for RAD Available Here: http://marketbuzzreport.com/index.php?code=RAD (Or Copy and paste the URL into your browser)
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