Active Stocks: Plug Power Inc. (NASDAQ:PLUG), Devon Energy Corp. (NYSE:DVN), Baidu Inc. (ADR) (NASDAQ:BIDU)
Dallas, Texas, 09/29/2014 (ustrademedia) – Plug Power Inc. (NASDAQ:PLUG) today mentioned in its blog post that the automotive manufacturing market has notably recognized the advantages of hydrogen fuel cells. The company’s hydrogen fuel cell solutions are offering their value with material handling customers across North America. To-date, Plug Power has helped BMW, Honda, Mercedes-Benz and Volkswagen utilize GenDrive power. These auto manufacturers have experienced that hydrogen fuel cells are easy to adopt to power the material distribution fleets, especially in their vehicle assembly operations. Plug Power offers productivity, sustainability, predictability and workforce safety with its hydrogen and fuel cell solution. Plug Power solutions significantly reduces operations costs and value proposition increases with larger fleets.
Sumitomo Corp. incurred huge losses at the shale oil project it shares with the U.S.-based Devon Energy Corp. (NYSE:DVN). Sumitomo today announced to form an internal committee to probe how it lost $1.8 billion in Texas shale oil and Australian coal mining. Sumitomo’s board is considering selling the northern part of the oil project. The Board said that it was difficult to extract the oil and gas from that project. The company will also write down the price of its tire business in the U.S. and an iron ore project in Brazil. Sumitomo cut its annual profit guidance by 96 percent as it written down the value of the two investments.
Baidu Inc. (ADR) (NASDAQ:BIDU) will join as a Chinese partner to The BMW Group in their latest research project. The highly automated prototypes developed in this joint initiative will be piloted on urban highways in Shanghai and Beijing. Baidu provides map and cloud services and operates China’s largest search engine. The BMW Group is known for its design of highly automate vehicle prototypes. The joint research project involving Baidu will pave the way for highly automated driving on the highways in China. Highly automated driving can help achieve an accident-free mobility.