PLUG, BLDP, FCEL Stocks Down on ClearEdge Power Bankruptcy
by William White | May 2, 2014 1:58 pm
Plug Power (PLUG), Ballard Power Systems (BLDP) and FuelCell Energy (FCEL) stocks are down on news that ClearEdge Power, a fellow maker of fuel cells, has filed for bankruptcy.
ClearEdge Power filed for Chapter 11 bankruptcy in U.S. Bankruptcy Court in San Jose, California on Thursday. The company listed over $100 million of both assets and debts in its filing, reports Businessweek.
ClearEdge Power is also being sued by about 250 employees that it fried without giving the mandatory 60-day notification. The fired employees come from the company’s South Windsor, Connecticut plant, Businessweek notes.
ClearEdge Power was looking to land a major contract, but it was delayed. The delay caused a shortage is cash in the company.
PLUG and BLDP shares were down 4% as of Friday afternoon. FCEL shares had dropped by 1% at the same time.
More Stocks on the Move
- WWE Stock Takes Hit After Tough Earnings
- EL: Estee Lauder Stock Is Looking Pretty Post-Earnings
- TPX: Tempur Sealy Stock Shoots Higher on Earnings Beat
- PLUG: http://studio-5.financialcontent.com/investplace/quote?Symbol=PLUG
- BLDP: http://studio-5.financialcontent.com/investplace/quote?Symbol=BLDP
- FCEL: http://studio-5.financialcontent.com/investplace/quote?Symbol=FCEL
- are down: http://www.businessweek.com/news/2014-05-02/fuel-cell-producer-clearedge-power-files-for-bankruptcy-1
- [Image]: http://investorplace.com/wp-content/uploads/2013/12/plug-power-plug-stock.jpg
- land a major contract: http://www.streetinsider.com/Trader+Talk/FuelCell+(FCEL),+Ballard+(BLDP),+Plug+Power+(PLUG)+on+Watch+as+Peer+Files+Bankruptcy/9438427.html
- WWE Stock Takes Hit After Tough Earnings: http://investorplace.com/2014/05/wwe-stock-takes-hit-tough-earnings/
- EL: Estee Lauder Stock Is Looking Pretty Post-Earnings: http://investorplace.com/2014/05/el-estee-lauder-stock-looking-pretty-post-earnings/
- TPX: Tempur Sealy Stock Shoots Higher on Earnings Beat: http://investorplace.com/2014/05/tpx-tempur-sealy-stock-shoots-higher-earnings-beat/
Source URL: http://investorplace.com/2014/05/plug-bldp-fcel-clearedge-power-bankruptcy/
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