DIRS.INFO The most relevant business & tech news

An electric vehicle charge station by ChargePoint, Inc. is seen in Manhattan, New York, U.S., December 8, 2021. REUTERS/Andrew Kelly Acquire Licensing RightsNEW YORK, Nov 17 (Reuters) - ChargePoint Holdings' (CHPT.N) stock slumped by nearly 38% to a record low on Friday after the electric vehicle (EV) charging network slashed its third quarter revenue forecast and replaced key executives. California-based ChargePoint also announced that longtime Chief Executive Pasquale Romano will be replaced by Rick Wilmer, its chief operating officer, effective immediately. The shares of other major EV charging network providers besides ChargePoint were also trading lower. But they downgraded the company to "perform" from "outperform" citing the executive departures, choppy demand, and "potential for further organizational changes."

Persons: Andrew Kelly, ChargePoint, Pasquale Romano, Rick Wilmer, Rex Jackson, Mansi Khetani, Cowen, Oppenheimer, Needham, ChargePoint F3Q, Bill Peterson, bode, Colin Rusch, Chibuike Oguh, Lance Tupper, David Evans Organizations: ChargePoint, REUTERS, ChargePoint Holdings, Reuters Graphics, JPMorgan, EV, EVgo, Thomson Locations: Manhattan , New York, U.S, North America, Europe, California, New York

☆ Plug Power shares dive on raising going concern doubts
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +2 min

Nov 10 (Reuters) - Shares of Plug Power (PLUG.O) plunged nearly 30% in premarket trading on Friday after the hydrogen fuelcell maker raised going concern doubts. Plug has been facing liquidity issues and has lost more than half of its market capitalization since the start of the year. Its annual financial performance has also been impacted by "unprecedented" supply challenges in the hydrogen network in North America. The Latham, New York-based Plug said cash and equivalents at the end on Sept. 30 stood at $110.8 million. Plug on Thursday also reported a bigger loss for the three months ended Sept. 30 and its revenue of $198.7 million widely missed estimate of $228.2 million, according to LSEG data.

Persons: The Latham, J.P, Morgan, Bill Peterson, Tanay, Maju Samuel Organizations: U.S . Department Of Energy, Thomson Locations: North America, New York, Bengaluru

☆ JPMorgan on clean tech stocks: It's going to get worse before it gets better
▼ + stars: | 2023-10-27 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

There could be more pain ahead for clean technology stocks — but there may be a buying opportunity for long-term investors, according to JPMorgan. Analyst Bill Peterson said clean technology stocks have seen sentiment become even more challenged following the second-quarter earnings cycle, as investors struggle to digest sliding demand trends, inflation and project delays. Clean technology stocks have fallen about 22% since 2023 began by JPMorgan's calculations, while the technology-heavy Nasdaq Composite has climbed around 21%. "Despite several positive catalysts on the horizon, we think the Clean Tech universe will likely see sentiment worsen before it gets better," Peterson told clients on Friday. However, the average analyst polled by LSEG has a buy rating with an expected upside of nearly 320%.

Persons: Bill Peterson, Peterson, LSEG, — CNBC's Michael Bloom Organizations: JPMorgan, Nasdaq

☆ JPMorgan says this struggling clean energy play may have finally bottomed, sees nearly 60% upside
▼ + stars: | 2023-10-12 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Hydrogen fuel cell company Plug Power is on pace for meaningful upside with several near-term catalysts ahead, according to JPMorgan. Analyst Bill Peterson added Plug Power to its positive catalyst watch list for the near term in a Thursday note, in addition to reiterating its overweight rating on the stock. Plug Power lowered its 2023 revenue forecast to account for a disappointing third quarter, but Peterson said he had anticipated this would occur. On Friday, the Biden administration is expected to announce $7 billion in hydrogen hub grants, from which Peterson thinks Plug Power is well-positioned to benefit. Plug Power could see further tailwinds from a positive resolution with the U.S. Department of the Treasury on the Inflation Reduction Act's clean hydrogen production tax credits.

Persons: Bill Peterson, Peterson, Biden, — CNBC's Michael Bloom Organizations: JPMorgan, U.S . Department of, Treasury, U.S . Department of Energy Locations: Wednesday's, company's Georgia

☆ This rare earth stock can rally more than 30% amid growing demand, JPMorgan says
▼ + stars: | 2023-08-31 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

MP Materials is poised to gain from a growing market for rare earth products, according to JPMorgan. The stock has pulled back despite the price of neodymium praseodymium alloy climbing about 8% this quarter. Meanwhile, Peterson said demand could approximately double by 2030 as electric vehicles and wind turbines — both of which can utilize rare earth magnets from the alloy — gain favor. The U.S.-based company is also increasingly attractive as geopolitical rifts with China, a major supplier in the rare earth supply chain, escalate. MP is considered one of only two "sizable" producers of rare earth oxides outside of the country by Peterson's count.

Persons: Bill Peterson, Peterson, Michael Bloom Organizations: Materials, JPMorgan Locations: Wednesday's, China, U.S

Aluminum ended July on a high note and there are several stocks that could benefit from the recent strength in the metal and prove opportunities for investors. Aluminum futures capped July with a 2.72% monthly gain, the most since January and their second-straight monthly advance. CNBC Pro found 11 stocks using data from Refinitiv that tend to move with aluminum prices. Each one is a member of the Russell 1000 and has a 50-day correlation coefficient of at least 0.4, which indicates at least a moderate correlation. Further down the list are stocks with more moderate correlations to aluminum: chipmaker Texas Instruments , Domino's Pizza , Align Technology and Korean e-commerce retailer Coupang .

Persons: Bill Peterson, Russell, It's, — CNBC's Michael Bloom, Gina Francolla Organizations: JPMorgan, CNBC Pro, Southern Copper Corporation, Air Products, Chemicals, Jefferies, Texas, Technology, Coupang, New York Stock Exchange, Intercontinental Exchange, Cboe, KKR Locations: China, Freeport, McMoRan, Korean

☆ Electric helicopters could replace rideshares. How to invest in this 'evolutionary' technology
▼ + stars: | 2023-07-23 | by ( Alex Harring | ) www.cnbc.com time to read: +7 min

"It's more of an evolutionary technology than a revolutionary technology." But Cowen managing director Cai von Rumohr said investors should be prepared for timelines to be pushed back, as this is still considered "early-stage tech." "Given the push for climate and to basically reduce carbon emissions, I think, at some point, there's going to be a market," von Rumohr said. The outlook is still clouded by many variables, von Rumohr said. "It's definitely an important investment opportunity for investors," Moeller said.

Persons: Harry Potter, Austin Moeller, Moeller, Archer, Joby, Cowen, Cai von Rumohr, von Rumohr, Lilium, Von Rumohr, Marco Iachini, Vanda Research's, Bill Peterson, It's Organizations: Archer, Federal Aviation Administration, FAA, Toyota, Stellantis, Air Force, Aerospace, JPMorgan

☆ JPMorgan downgrades this electric aircraft maker, calls stock outperformance 'largely overblown'
▼ + stars: | 2023-07-19 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

JPMorgan is turning more cautious on shares of Joby Aviation in the wake of its recent stock outperformance. Analyst Bill Peterson downgraded the electric aircraft stock to underweight from neutral. For the year, Joby shares are up 200%. Along with the downgrade, Peterson lifted his price target to $6 from $5 a share, reflecting 40% downside from Monday's close. He views Blade Air Mobility as a potentially "safer way" to currently play the advanced air mobility trend.

Persons: Bill Peterson, Peterson, — CNBC's Michael Bloom Organizations: JPMorgan, Joby Aviation, Aviation, Mobility Locations: OW

☆ JPMorgan downgrades this aluminum stock ahead of earnings
▼ + stars: | 2023-07-14 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Analyst Bill Peterson downgraded the stock to neutral from overweight and slashed his price target to $36 from $54 in the runup to its earnings report next week. Despite an approximately 90% correlation between Alcoa shares and aluminum prices over the past decade, Alcoa has underperformed the metal by 7% since April. Aluminum prices as a whole should also be cheaper than previously forecasted in both the fourth quarter and 2024, but may find support in the second half of next year as inventories thin out. Cost pressure could also remain into 2024 given the lower bauxite grade feed for refineries. As a group, Peterson said he remained constructive on aluminum stocks in the long term.

Persons: Bill Peterson, Peterson, Kaiser, Constellium, — CNBC's Michael Bloom Organizations: JPMorgan, Alcoa, AA, Midwest Locations: Alcoa, China, U.S, Western Australia

JPMorgan is bullish on aluminum producer Alcoa shares as the commodity's outlook becomes more positive. The outlook also looks promising for its proprietary, zero-carbon Elysis smelting technology, which eliminates all scope 1 emissions associated with aluminum smelting, instead emitting pure oxygen as a byproduct," said Peterson. Alcoa shares jumped 2.1% Monday during premarket trading. However, the aluminum producer's shares have declined 20.5% in 2023, and more than 40% over the past 12 months. AA YTD mountain Alcoa shares —CNBC's Michael Bloom contributed to this report.

☆ These 3 clean tech stocks should beat the market the rest of the year, JPMorgan says
▼ + stars: | 2023-05-01 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Investors may want to consider betting on three downtrodden clean technology stocks situated to outperform the market as the year stretches on, according to JPMorgan. But these stocks should benefit from favorable policy tailwinds, analyst Bill Peterson said in a Monday note to clients. Support for hydrogen, electric vehicle charging and batteries following the Inflation Reduction Act should fueled strong demand for these stocks going forward, Peterson said. PLUG YTD mountain Plug Power shares in 2023 So far this year, the stock's tumbled more than 28%. Another name JPMorgan is betting on long-term is ChargePoint as a longer-term clean tech winner.

☆ JPMorgan downgrades electric vehicle charging stock EVgo, sees little upside going forward
▼ + stars: | 2023-01-26 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

JPMorgan thinks it's time to move to the sidelines on electric vehicle charging company EVgo . However, "we think its network throughput growth will likely be dampened as a result of slower site growth." While EVgo recently announced a partnership with Amazon's Alexa , which will guide electric vehicle users to EVgo charging stations, the company's growth outlook remains tricky. JPMorgan said early signs of consolidation among electric vehicle charging operators and larger energy players, such as Shell and Volta, could pose a threat to EVgo. Further challenges lie ahead for the broader electric vehicle charging market, J.P. Morgan added.

☆ Here are JPMorgan's top clean energy picks for 2023 after tough year for sector
▼ + stars: | 2022-12-15 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Next year should be a pivotal one for clean energy companies — and certain stocks are poised to stand out in the crowd, according to JPMorgan. Supply constraints and Covid-related dislocations have made for a difficult 2022 for clean energy names, analyst Bill Peterson said. Hydrogen company Plug Power is a leader in the emerging global hydrogen ecosystem, Peterson said. "The company continues to innovate, pursue global partnerships and acquisitions, and win customer bookings across its lines of business," Peterson wrote. Thus, the reward should be strong, sustainable growth within an expanding customer base as the EV market expands," Peterson wrote.

☆ Archer Aviation plans to build 250 air taxis in 2025
▼ + stars: | 2022-10-24 | by ( Aishwarya Nair | ) www.reuters.com time to read: +2 min

Adam Goldstein (R) and Brett Adcock, co-founders and co-CEOs of flying taxi company Archer Aviation, pose for a picture as they rehearse for the unveiling of their all-electric aircraft from a facility in Hawthorne, California, U.S. June 8, 2021. REUTERS/Mike BlakeOct 24 (Reuters) - Archer Aviation Inc (ACHR.N) said it aims to make about 250 battery-electric air taxis in 2025 and scale up production in the following years, after setting a goal of getting its aircraft certified by the end of 2024. "In our first year, we will build 250 aircraft, our second year will build 500 aircraft, our third year will build 650 aircraft and then we scale it up to around 2,000 aircraft per year," CEO Adam Goldstein told Reuters in an interview. Archer aims to certify its pilot-plus-four-passenger aircraft, 'Midnight', by end-2024, though the U.S. Federal Aviation Administration (FAA) is still in the process of drawing up certification rules for these futuristic aircraft. Register now for FREE unlimited access to Reuters.com Register"In terms of aircraft production, we have estimated in our Archer model ~20 units in 2025," JPM analyst Bill Peterson said.

Search resuls for: "Bill Peterson"

14 mentions found