Boston, MA 02/17/2014 (wallstreetpr) – Plug Power Inc. (NASADAQ:PLUG) banking on GenKey order for turnaround
Plug Power Inc. (NASADAQ:PLUG) was up in the market by +20.6% immediately after news came out it had received a significant GenKey contract to roll out its hydrogen fuel cell into North America six major centers. The company has never reported quarterly net income since 1999, so this should be good news in its attempt of trying to reverse the condition.
This deal should essentially solidify its position as a key global proton exchange clearly showing the technology has become important and should help a lot in turning the fortunes of the ailing company. The company has not been able to post profits since 2008 and was recently under threat of being thrown out of the NASDAQ. The GenKey order could not have come at a better time as the company tries to get its footing in the market.
JPMorgan Chase & Co (NYSE:JPM) and justice department taken to court over settlement package
A case has been filed in court against the US department over its record settlement with JPMorgan Chase & Co (NYSE:JPM). Nathan Andrada of the Fourth estate cooperative Contributor New York claims the deal to resolve the mortgage issues that JPMorgan Chase &Co had with investments was unconstitutional.
The public interest group wants the settlement to be revoked and declared illegal until judge reviews and approves the settlement package. JPMorgan Chase &Co had come into a consensus agreement with the US government to pay $13 billion for issuing fraudulent and substandard mortgages. The case could hit hard rocks as the justice department constitutionally has the powers to solve civil matters out of court as long as full settlement is made available to the public domain.
Rite Aid Corporation (NYSE:RAD) sued by Walgreen over mobile Refill scans
Rite Aid Corporation (NYSE:RAD) together with Caremark Corp and Shopko stores Inc. are being sued by Walgreen on claims they are misusing its technology for refilling prescriptions with the help of mobile scanners. Walgreen currently owns a patent mainly used to “express refill” prescription and also owns exclusive rights of using the invention.
Walgreen clams the three accused parties are using the methods without any license thus their immediate move to seek compensation for damages and to bar them from using the technology. The retail chain currently “owns offers and operates” a wide range of mobile applications.