Plug Power hydrogen delivery truck.
Source: Plug Power
Look at the companies that make headlines in the afternoon trading.
Plug Power – The fuel cell manufacturer’s shares slipped more than 16% after Plug Power said it would recover financial results after accounting errors. In a statement, the company said the errors were mainly related to areas, including the impairment of certain long-lived assets, as well as loss returns for certain service contracts. “There is no expected impact on our cash position, business operations or the economy of commercial arrangements,” the company said, adding that the review found no misconduct.
Coupa Software – Shares of the financial management software company fell more than 7%, even after a better-than-expected quarterly report. According to Refinitiv, Coupa earned an adjusted 17 cents per share for the last quarter, compared to expectations of a loss of 11 cents per share. The company’s revenue also outperformed.
Lennar – The homebuilder’s share price rose almost 7% after having a strong quarterly result. Lennar reported earnings of $ 2.04 per share. Revenue is $ 5.33 billion, according to Refinitiv.
CrowdStrike Holdings – The share in the security software rose 0.3% after the company reported earnings that were above analysts’ estimates. According to Refinitiv, CrowdStrike reported quarterly earnings of 13 cents per share, beating estimates by 5 cents. CrowdStrike also posted an optimal outlook, forecasting more than $ 1 billion in revenue this year.
Uber – Shares in the ride service fell 4.7% on Wednesday morning after the company said it would grant UK drivers worker status, minimum wage and certain benefits. Uber’s ruling comes after the country’s high court upheld the ruling that a group of drivers were workers, not independent contractors.
McDonald’s – Shares in McDonald’s rose 1.6% during afternoon trading after Deutsche Bank upgraded the global civic chain to buy, saying investors would have to see 11% up next year. UBS also published a clumsy note on Wednesday, saying McDonald’s will have strong sales growth during 2021, thanks to the resort to chicken sandwiches.
Coherent – The share price of the laser business rose by 2.8% after Coherent said it had received a revised takeover bid from Lumentum for optical components for $ 6.9 billion in cash and inventory. This is the 8de offers an offer for Coherent in a takeover contest involving Lumentum, II-VI and MKS Instruments.
– with coverage of CNBC’s Yun Li, Pippa Stevens, Tom Franck and Jesse Pound.