Following U.S. Stocks were among the “Top Losers” during Monday’s trade: Violin Memory Inc (NYSE:VMEM)’, Quiksilver, Inc (NYSE:ZQK), FuelCell Energy Inc (NASDAQ:FCEL), Cliffs Natural Resources Inc (NYSE:CLF)
Their insights are depicted underneath:
Violin Memory Inc (NYSE:VMEM)’s shares dwindled -8.36%, and closed at $3.29, hitting new 52-week high of $3.55.
Violin Memory, Inc. (VMEM)‘s Q4 proceed that was announced last Thursday, missed Wall Street views amid escalating competition in the solid-state flash memory market.
According to Investor’s Business Daily, Violin Memory also forecast current quarter proceed below analyst expectations.
On the other hand, BUSINESS WIRE, stated Fourth Quarter Fiscal 2015 Financial Results of the company which illustrates the following data:
Fourth quarter fiscal 2015 proceed was $20.5 million, 6% lower sequentially contrast to $21.7 million stated in the third quarter of fiscal 2015, and 27% lower contrast to $28.0 million stated in the fourth quarter of fiscal year 2014.
Fourth quarter fiscal 2015 GAAP gross margin was (50%) contrast to 51% stated in the third quarter of fiscal 2015 and contrast to 22% stated in the fourth quarter of fiscal year 2014.
Fourth quarter fiscal 2015 non-GAAP gross margin was 50% contrast to 54% stated in the third quarter of fiscal 2015 and contrast to 56% stated in the fourth quarter of fiscal year 2014.
Fourth quarter fiscal 2015 GAAP net loss was $46.8 million, or $0.50 per share, contrast to third quarter fiscal 2015 GAAP net loss of $23.5 million, or $0.25 per share and contrast to fourth quarter fiscal 2014 GAAP net loss of $56.5 million, or $0.69 per share.
Fourth quarter fiscal 2015 GAAP net loss comprised of a net charge of $28.7 million from special items, counting inventory provisions due to product transitions of $19.9 million, stock-based compensation expense of $5.3 million, impairment of a cost method investment of $3.5 million and amortization of attained intangibles of $0.1 million.
Not taking into account special items, fourth quarter fiscal 2015 non-GAAP net loss was $18.1 million, or $0.19 per share, contrast to third quarter fiscal 2015 non-GAAP net loss of $17.8 million, or $0.19 per share, and contrast to fourth quarter fiscal 2014 non-GAAP net loss of $23.5 million, or $0.28 per share.
Cash and cash equivalents, restricted cash, and short-term investments totaled $156.2 million as of fiscal 2015 year-end.
“Violin is having a major product transition that will likely hurt proceed near term but assist future periods. The corporation is still lagging the growth of the solid-state flash array market by a wide margin,” said Barclays analyst Ben Reitzes in a research report. “With prospects for proceed momentum to remain muted in the April quarter, Violin Memory needs to build backlog with new products.
Violin Memory transforms the speed of business with high performance, always accessible, low cost administration of critical business information and applications. Violin’s All Flash optimized solutions accelerate breakthrough CAPEX and OPEX savings for building the next generation data center.
Quiksilver, Inc (NYSE:ZQK), declined -8.14%, and closed at $1.58.
Through BUSINESS WIRE, Quiksilver Inc. (ZQK), declared that it has postponed the distribution of its 2015 first quarter earnings release, in addition to the related conference call and webcast formerly planned to take place on March 5th, as a result of a proceed cut-off issue identified by administration and brought to the attention of the Audit Committee.
The Audit Committee promptly commenced an investigation last week and has not yet reached any conclusions. Based on presently accessible information, the Corporation believes that the completion of the Audit Committee’s investigation will have no material influence on its formerly issued financial statements, its 2015 first quarter financial results, or its current guidance.
The Audit Committee plans to review progress regarding its investigation at a formerly planned regular meeting of the Board of Directors on March 16th, after which the Corporation anticipates announcing a date for distribution of its first quarter 2015 financial results during March.
Quiksilver, Inc. designs, develops, and distributes branded apparel, footwear, accessories, and related products primarily for men, women, and children.
FuelCell Energy Inc (NASDAQ:FCEL), dipped -7.80%, and closed at $1.30.
Through GLOBE NEWSWIRE, FuelCell Energy Inc. (FCEL), a global leader in the design, manufacture, operation and service of ultra-clean, efficient and reliable fuel cell power plants, on March 5, declared the continued progress in the commercialization of an affordable and efficient carbon capture solution utilizing fuel cells, following thousands of hours of testing with simulated flue gas of a coal-fired power plant. In addition to this evaluation under a U.S. Department of Energy (DOE) contract, the program comprised of a detailed design and cost analysis for fuel cell applications capturing carbon dioxide (CO2) from large scale coal-fired power plants. Results of this study support cost targets below the U.S. Department of Energy threshold of $40/ton. An additional benefit demonstrated is tolerance levels and clean up requirements for the impurities in coal plant exhaust, in addition to the ability to destroy about 70 percent of smog-producing nitrogen oxide (NOx).
In addition to this progress for coal-fired applications, testing is being conducted with private funding for the evaluation of fuel cells for capturing CO2 from natural gas fired power plants. Results to date are supporting the viability and cost targets for gas-fired power plants and exhaust sources.
Investopedia’s article of March 09, depicts that FuelCell Energy stands out from most of the other best-known companies in the fuel cell industry by concentrating on a completely different niche that involves a different type of technology from that of its peers.
According to it, shareholders assume the corporation is in exactly the same business as other fuel cell companies. But FuelCell Energy targets a much different customer base for its products.
For instance, FuelCell Energy’s products comprise two power plant solutions, one of which produces 2.8 megawatts of electricity while the other produces 1.4 megawatts.
The technology behind FuelCell Energy’s systems involves a different type of fuel cell than you’ll find at many other companies.
FuelCell Energy specializes in molten carbonate fuel cells, which involves a different chemical process. By using electrolytes that operate at high temperatures, these cells offer raised efficiency contrast to other types of large-scale fuel cell power plants.
As a result of its unique technology, in order for FuelCell Energy to grow, it has to convince large-scale energy users to adopt its power plant technology. So far, it hasn’t been able to do so. Early last year, it appeared that FuelCell Energy was on a path to build up a sustainably profitable business in the near future. Yet over the course of the year, proceed dropped down from 2013 levels, and FuelCell Energy’s backlog of future projects also declined. Of particular concern is the drop in product-order backlog, which has fallen by half in the past two years as the corporation accomplished a major hydrogen fuel cell park in South Korea last year.
The nature of its technology also puts FuelCell Energy in an awkward position.
Still, FuelCell Energy is working with partners to try to bring in new business. One deal had a major utility take a $35 million ownership stake in FuelCell Energy, in addition to offering a credit line to finance new projects.
FuelCell Energy faces many challenges to its growth. If the corporation can thread the needle between natural-gas turbines and other alternative energy sources, then it could bounce back from its disappointing performance over the past year.
Direct FuelCell(R) power plants are generating ultra-clean, efficient and reliable power at more than 50 locations worldwide. With more than 300 megawatts of power generation capacity installed or in backlog, FuelCell Energy is a global leader in providing ultra-clean baseload distributed generation to utilities, industrial operations, universities, municipal water treatment facilities, government installations and other customers around the world.
Cliffs Natural Resources Inc (NYSE:CLF) dropped -7.66%, and closed at $5.79.
Through PRNewswire, Cliffs Natural Resources Inc. (CLF), declared that it has amended its formerly declared private offers to exchange its newly issued 7.75% Senior Secured Notes due 2020, for certain outstanding senior unsecured notes of Cliffs, upon the terms and subject to the conditions set forth in the Corporation’s offering memorandum dated February 26, 2015, in order to raise the maximum aggregate principal amount of Senior Secured Notes to be exchanged from $750 million to $1.25 billion.
Cliffs has also raised the maximum principal amount of 6.25% Senior Notes due 2040 that will be accepted in the Exchange Offers from $325 million to $400 million.
The acceptance priority levels for each series of outstanding senior unsecured notes subject to the Exchange Offers and the applicable consideration offered for each series of Existing Notes remain unchanged. The deadlines for the Exchange Offers also remain unchanged.
Accordingly, eligible holders must validly tender their Existing Notes at or preceding to 5:00 p.m., New York City time, on March 11, 2015 (the “Early Tender Date”), in order to be eligible to receive the applicable “Total Exchange Consideration”. Existing Notes tendered after the Early Tender Date but preceding to expiration of the Exchange Offers will not be eligible to receive the “Early Tender Premium” of $50 in principal amount of new senior secured notes per $1,000 principal amount of Existing Notes.
The Exchange Offers will expire at midnight, New York City time, on March 25, 2015 (the “Expiration Date”). Tenders of Existing Notes may not be withdrawn after 5:00 p.m., New York City time, on March 11, 2015, except in certain limited circumstances described in the offering memorandum and related letter of transmittal. The offering memorandum has been supplemented by a supplement dated March 5, 2015 (the “Supplement”), which contains the revisions described in this press release.
Cliffs Natural Resources Inc. is a leading mining and natural resources corporation in the United States. The Corporation is a major supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota.
