Tuesday, May 31, 2011


Below we highlight few companies whose shares are actively trading in Tuesday's session.

Shares of Nokia Corp. (NYSE: NOK) slumped more than 14% Tuesday after the company lowered its second-quarter sales forecast citing lower than expected selling prices and volumes."Nokia now expects Devices and Services net sales to be substantially below its previously expected range of 6.1 billion to 6.6 billion euros ($8.6-9.5 billion dollars) for the second quarter 2011," the company said in a statement.

LDK Solar Co., Ltd. (NYSE: LDK) surged more than 7% after Germany said it would shut down all 17 of its nuclear reactors by 2022.  Germany is the world’s largest market for the solar sector.

FuelCell Energy, Inc. (NASDAQ: FCEL) soared more than 26% after the company announced a two-year order for 70 megawatts (MW) of fuel cell kits from POSCO Power. The total value of the order and other commitments for services is estimated to be at least $129 million with delivery of fuel cell kits beginning in October 2011 and occurring monthly through October 2013. Payment terms include a down payment and progress payments during the term of the contract, with approximately 40 percent of the contract value received by October, 2011. POSCO Power is an independent power producer in South Korea and subsidiary of POSCO, a global steel producer.

Yongye International, Inc. (NASDAQ: YONG) soared more than 48% after the Chinese plant and animal feed maker announced that that Morgan Stanley's Asian private equity arm has agreed to make a $50 million investment in the company. Yongye intends to use the proceeds to expand its production capacity, repay bank debt and for general corporate purposes.

General Dynamics Corp (NYSE: GD) jumped more than 4% Tuesday after the U.S. defense contractor  said that the U.S. Navy has awarded it a $744 million contract to produce a new type of amphibious support ship. Construction of the first ship will begin immediately, with delivery to occur by the spring of 2013. The contract includes an option for the construction of a third MLP which, if exercised, will increase the total contract value to approximately $1.3 billion.

Full Disclosure: None. 
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