NEW HAMPTON, N.Y., Nov. 03, 2020 (GLOBE NEWSWIRE) — Balchem Corporation (NASDAQ: BCPC) Chairman of the Board, Chief Executive Officer, and Pres… Plug Power (PLUG) is in the news Tuesday after announcing a new public offering that has it devaluing shares of its stock. (RTTNews) – The South Korea stock market on Tuesday ended the two-day winning streak in which it had spiked almost 70 points or 2.8 percent. The KOSPI now rests just beneath the 2,540-point plateau and it may take further damage on Wednesday. The global forecast for the Asian markets suggests mild consolidation after significant upside […] More
NEW HAMPTON, N.Y., Nov. 03, 2020 (GLOBE NEWSWIRE) — Balchem Corporation (NASDAQ: BCPC) Chairman of the Board, Chief Executive Officer, and President Ted Harris and Chief Financial Officer Martin Bengtsson will present at Stephens Annual Investment Conference 2020 on Tuesday, November 17, 2020. Balchem’s presentation will begin at 2:00 p.m. (EST).
Presentation materials will be made available prior to the conference at www.balchem.com/investor-relations/
About Balchem Corporation
Balchem Corporation develops, manufactures and markets specialty ingredients that improve and enhance the health and well-being of life on the planet, providing state-of-the-art solutions and the finest quality products for a range of industries worldwide. The company reports three business segments: Human Nutrition & Health; Animal Nutrition & Health; and Specialty Products. The Human Nutrition & Health segment delivers customized food and beverage ingredient systems, as well as key nutrients into a variety of applications across the food, supplement and pharmaceutical industries. The Animal Nutrition & Health segment manufactures and supplies products to numerous animal health markets. Through Specialty Products, Balchem provides specialty-packaged chemicals for use in healthcare and other industries, and also provides chelated minerals to the micronutrient agricultural market.
Markets Insider and Business Insider Editorial Teams were not involved in the creation of this post.
Author: finanzen.net GmbH
Power News: Why PLUG Stock Is Plunging 9% Today
Plug Power (NASDAQ:PLUG) is in the news Tuesday after announcing a new public offering that has it devaluing shares of its stock.
The Plug Power upsized public offering has it adding 38 million shares of PLUG stock to the market at a price of $22.50. That’s worth noting as the closing price for PLUG stock on Monday was $25 per share.
It’s easy to understand why Plug Power stock is falling following this news. When the company’s own public offering of shares is lower than the current price, it only makes sense that the shares would lose value.
Another thing to note about the upsized offering is the additional shares available to the underwriters. They have a 30-day option to buy an additional 5.7 million shares of PLUG stock at the public price, less the underwriting discount. In this case, Morgan Stanley is the sole book-running manager of the public offering.
The oversized public offering news from Plug Power comes just a week after the release of its earnings report for the third quarter of 2020. The results went over well with investors after the company beat out estimates and set a revenue record during the quarter.
Keeping its positive performance in mind, investors might want to consider taking a stake in PLUG stock. The company appears poised to grow in the coming years and buying on this dip could be a smart idea.
PLUG stock was down 9.2% as of Tuesday morning but is up 600.9% year-to-date.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
William White, InvestorPlace Writer
South Korea Bourse May Extend Tuesday’s Losses
(RTTNews) – The South Korea stock market on Tuesday ended the two-day winning streak in which it had spiked almost 70 points or 2.8 percent. The KOSPI now rests just beneath the 2,540-point plateau and it may take further damage on Wednesday.
The global forecast for the Asian markets suggests mild consolidation after significant upside in recent sessions, with a rising number of coronavirus cases also likely to weigh. The European markets were mixed and the U.S. bourses were down and the Asian markets figure to split the difference.
The KOSPI finished slightly lower on Tuesday following losses from the airlines, gains from the financials and mixed performances from the technology, oil and chemical companies.
For the day, the index slid 3.88 points or 0.15 percent to finish at 2,539.15 after trading between 2,533.34 and 2,556.09. Volume was 1.2 billion shares worth 17.5 trillion won. There were 524 decliners and 318 gainers.
The lead from Wall Street is soft as stocks opened lower on Tuesday, pared the losses as the day progressed but still ended in the red after two sessions of solid gains.
The Dow shed 167.09 points or 0.56 percent to finish at 28.783.35, while the NASDAQ lost 24.79 points or 0.21 percent to end at 11,899.34 and the S&P 500 fell 17.38 points or 0.48 percent to close at 3,609.53.
Profit taking contributed to the initial pullback on Wall Street after the strength seen in the previous session lifted the Dow and the S&P 500 to new record closing highs.
The markets were also troubled by data that showed more than 166,000 news coronavirus cases on Monday, with the total number of cases in the U.S. now exceeding 11 million.
Crude oil futures contracts ended slightly higher on Tuesday as hopes for tighter production cuts by OPEC outweighed surging coronavirus. West Texas Intermediate Crude oil futures for December ended up $0.09 or 0.2 percent at $41.43 a barrel.
Author: Written by FinancialNews