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3 Tech Stocks That Soared This Week
 

3 Tech Stocks That Soared This Week

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In a field with dozens of interesting jumps, these are three of the most exciting tech gainers between June 16 and June 20. Nuance might be for sale, Plug Power is riding a wave of big news elsewhere ...

In a field with dozens of interesting jumps, these are three of the most exciting tech gainers between June 16 and June 20. Nuance might be for sale, Plug Power is riding a wave of big news elsewhere in the fuel cell industry, and BlackBerry isn't dead quite yet, thank you very much.

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    3 Tech Stocks That Soared This Week 3 Tech Stocks That Soared This Week Presentation Transcript

    • 3 Tech Stocks That Soared This Week
    • These 3 tech tickers beat the market, June 16 – June 20
    • Fuel cell power systems builder Plug Power gained 17% in 5 days. Image source: Plug Power.
    • The big move: Plug Power shares actually jumped 18% on Wednesday alone. The rest of the week was kind of a wash.
    • But why did the stock jump, mid-week? • The entire fuel cell industry soared on Wednesday – not just Plug Power. • Analyst firm Jennings Capital started coverage on Plug Power supplier Ballard Power Systems. • Jennings tagged Ballard with a “buy” rating and a $4 price target. That stock traded at $3.50 at the time. • Of course, Ballard shares immediately rose above Jennings’ price target, but major Ballard customer Plug Power jumped even higher.
    • Plug Power jumps and drops easily • Last week, Plug Power was on my list of the tech sector’s biggest crashes. This time, it’s up on the biggest winners rundown. • The stock is up 210% year-to-date and a staggering 1,042% over the last year. • It’s also down 59% from yearly highs that were set in March. • Plug Power shares are a day trader’s plaything at this point. Share prices can double or drop by half in a couple of weeks – and there’s no telling which way it’s going next. • If fuel cells hit the mainstream, Plug Power will make you rich in the long run. • If not, you may very well lose your entire Plug Power investment.
    • The big Plug Power takeaway: Be careful out there! Image source: Plug Power.
    • Smartphone maker BlackBerry jumped 24%.
    • BlackBerry’s catalyst: • BlackBerry’s rocket fuel? A classic beat-and-raise first-quarter earnings report. • The Canadian company is hardly selling any smartphones these days, but makes up for that problem with software sales and cost-cutting. • BlackBerry hopes to report breakeven cash flows in the recently started 2015 fiscal year. • CEO John Chen’s turnaround plan is working, but there’s much work left to do.
    • Finally, Nuance Communications gained 14%. The big push happened on Monday.
    • What happened on Monday? • The huge spike came from a Wall Street Journal article, published near noon. • Citing anonymous insiders, the WSJ said that Nuance is talking to potential buyout partners. • Samsung might buy the speech recognition software expert, or private equity firms might pick it up.
    • The Apple factor • Samsung buying Nuance would be uncomfortable for Apple, which uses Nuance software in its popular Siri voice assistant feature. • Apple and Samsung are locking horns in courtrooms across the world, fighting billion-dollar battles over smartphone patents. • Making Apple depend on yet another Samsung-owned technology against that backdrop? Awkward. • That being said, rumor has it that there’s a ceasefire in the works. If so, Samsung owning Siri’s brain would be just another, totally normal, business relationship.
    • The man behind the curtain • Selling Nuance to the highest bidder would hardly be a shock. • Consider that corporate raider Carl Icahn owns 19% of Nuance’s shares, making him the company’s largest shareholder. • Icahn builds large stakes like this one to force big changes. Looking for a buyout exit is one of his favorite tactics. • So the Icahn factor plays in favor of a real buyout deal right now. • However, Nuance has neither confirmed nor denied any of this. Until further notice, Nuance shares are riding about 14% higher on a plausible rumor.
    • Apple hopes to sell millions of iWatches… but not without this small-cap components supplier.