Plug Power (NASDAQ:PLUG) stock continues to fall on Monday, extending a sell-off triggered on Friday Last week, the fuel cell company priced its follow-on offering of 22.6 million shares at $5.50 a share. Plug Power said it had also granted underwriters a 30-day option to purchase up to an additional 3.39 million shares. The gross proceeds will be $124.3 million, while net proceeds are expected to total $116.3 million. The offering is expected to close around April 30. Also affecting sentiment on Monday, Global Equities Research’s Trip Chowdhry said in a report that fuel cell cars are a “complete failure,” noting they are “not a viable source of fuel for automobiles. Plug Power Inc(NASDAQ:PLUG) shares after opening at $5.37 moved to $5.40 on last trade day and at the end of the day closed at $4.66. Company price to sales ratio in past twelve months was calculated as 0.26 and price to cash ratio as 3.10. Plug Power Inc (NASDAQ:PLUG) showed a negative weekly performance of -16.27%.
Bank of America Corp (NYSE:BAC) said it made an “incorrect adjustment” on investments acquired along with Merrill Lynch five years ago. The result: The Federal Reserve told the bank to suspend plans to buy back shares and raise its dividend. Investors aren’t happy. Bank of America Corp (NYSE:BAC) shares moved down -6.27% in last trading session and was closed at $14.95, while trading in range of $ 14.86 – 15.41. Bank of America Corp (NYSE:BAC) year to date (YTD) performance is -3.92%.
Nokia Corporation (ADR) (NYSE:NOK) announced that Rajeev Suri, the current head of Nokia Solutions and Networks (NSN) will succeed Stephen Elop as the Chief Executive Officer of the company. Moreover, in an announcement made separately, the management announced a €5 billion ($6.9 billion) plan to optimize the company’s capital structure. Nokia Corporation (ADR)(NYSE:NOK) shares moved down -3.30% in last trading session and was closed at $7.03, while trading in range of $. 7.00 – 7.22 Nokia Corporation (ADR)(NYSE:NOK) year to date (YTD) performance is -13.32
Northstar Realty Finance Corp. (NYSE:NRF) soared 7.30% to more than 7-year high on a report American Realty Capital Properties Inc (NASDAQ:ARCP) is holding talks to purchase NorthStar Realty Finance Corp., in a cash-and-stock deal that would value the company at more than $6.5 billion. The report claims both the companies are discussing a purchase price of $20 per share. The talks are incomplete and there is no guarantee a deal would materialize. Northstar Realty Finance Corp.(NYSE:NRF) weekly performance is 13.76%. On last trading day company shares ended up $17.20. Northstar Realty Finance Corp.(NYSE:NRF) distance from 50-day simple moving average (SMA50) is 11.11%. Analysts mean target price for the company is $18.02.