Stocks making the biggest moves noon: Plug Power, Coupa Software, Lennar and more

Plug Power hydrogen supply truck.

Source: Plug Power

Check out the firms making headlines in noon buying and selling.

Plug Power – The gasoline cell maker’s shares slid 7.9% after Plug Power stated it can restate monetary outcomes following accounting errors. In a submitting the firm stated the errors are primarily associated to areas together with the impairment of sure long-lived property, in addition to loss accruals for sure service contracts. “There is no expected impact to our cash position, business operations or economics of commercial arrangements,” the firm stated, including that the overview didn’t discover any misconduct.

Coupa Software – Shares of the monetary administration software program firm dropped 4.8% even after a better-than-expected quarterly report. Coupa earned an adjusted 17 cents per share for its newest quarter, in comparison with expectations of an 11 cents per share loss, in line with Refinitiv. The firm’s income additionally topped expectations. 

Lennar — The homebuilder’s share worth popped 13.8% after reporting sturdy quarterly outcomes. Lennar reported earnings per share of $2.04. Revenue got here in at $5.33 billion, topping estimates of $5.13 billion, in line with Refinitiv.

CrowdStrike Holdings  – The safety software program inventory rose 6% after the firm reported earnings that topped analysts’ estimates. CrowdStrike reported quarterly earnings of 13 cents per share, beating estimates by 5 cents, in line with Refinitiv. CrowdStrike additionally issued an upbeat outlook, projecting more than $1 billion in income this yr.

Uber — Shares of the ride-hailing service dropped 4.2% Wednesday morning after the firm stated it could grant U.Ok. drivers employee standing, minimal wage and sure advantages. Uber’s resolution got here after the nation’s Supreme Court upheld a ruling {that a} group of drivers have been staff, not impartial contractors.

McDonald’s — Shares of McDonald’s rose 1.9% in noon buying and selling after Deutsche Bank upgraded the world burger chain to purchase and stated traders ought to see 11% upside over the subsequent yr. UBS additionally revealed a bullish observe on Wednesday and stated McDonald’s ought to proceed to see sturdy gross sales development all through 2021 due to its foray into hen sandwiches.

Coherent — The laser firm’s inventory worth jumped 3.3% after Coherent stated it had obtained a revised takeover bid from optical parts maker Lumentum for $6.9 billion in money and inventory.  This is the 8th bid for Coherent in a takeover contest involving Lumentum, II-VI and MKS Instruments.

— with reporting from CNBC’s Yun Li, Pippa Stevens, Tom Franck and Jesse Pound.

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