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Luke Kawa

Plug Power soars on planned collaboration with US data center developer, highlighting its “growing presence in the rapidly expanding” sector

Shares of Plug Power are jumping double digits as of 7:30 a.m. ET after the hydrogen fuel cell company announced that it “has signed a non-binding Letter of Intent to monetize its electricity rights in New York and one other location and collaborate with a US data center developer.”

Access to energy has emerged as the key bottleneck in the US AI boom, as recently highlighted by Nvidia CEO Jensen Huang and Microsoft CEO Satya Nadella.

Management highlighted that expanding Plug’s footprint in the “rapidly expanding data center sector” by offering backup power solutions is a priority for the company.

In October, HC Wainwright analyst Amit Dayal spotlighted Plug’s potential role in providing power to data centers, upping his price target to $7 from $3, the highest on Wall Street, which set off record call activity in the stock.

Amid rising energy demand, Plug’s offerings begin to look “increasingly price-competitive and case for adoption becomes stronger,” he wrote. Peer Bloom Energy has also cashed in on the AI boom, striking a deal to deliver power to some of Oracle’s data centers, which accelerated the stock’s surge.

In the press release, Plug also noted that it expects to generate more than $275 million in “liquidity improvement” through monetizing assets (like the aforementioned electricity rights in New York and elsewhere), the release of restricted cash, and lower maintenance expenses. Management added that they are suspending activities related to the Department of Energy loan program (which was going to be used to increase hydrogen production), saying that its July announcement for hydrogen supply reduced its need to produce more itself.

The company is slated to deliver its Q3 results today.

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Luke Kawa

Plug Power wins shareholder approval to boost its share count, avoiding reverse split and paving the way for more dilution

After the close on Thursday, Plug Power revealed that it received sufficient shareholder support to increase its share count.

This approval paves the way for the hydrogen fuel cell company to raise more money via share offerings, something it’s announced 20 times since its IPO, according to data from Bloomberg.

Management had urged shareholders to vote in favor of this proposal. It’s a sign of how important retail investors are to Plug that CEO Andy Marsh even hosted an AMA on Reddit to build support among the community.

If this measure had failed to get a “yes” vote from the majority of shareholders, Plug warned that it would have been forced to proceed with a reverse stock split (which would have raised the per-share price) in order to issue more shares.

“Without additional authorized shares, the Company will not be able to: meet its contractual obligations to increase authorized shares of common stock by February 28, 2026; raise capital necessary for operations and growth; and execute on its business plans and strategy,” the company said in a November filing.

Plug is aiming to capitalize on the data center-driven bid for power by offering auxiliary solutions.

markets
Millie Giles

Pinterest plummets on disappointing Q1 sales forecast, as retailers pull back on ad spending

Shares of social media platform Pinterest are down around 20% in premarket trading on Friday, following fourth quarter earnings after the bell on Thursday that fell short of expectations.

While revenue grew 14% to $1.32 billion in Q4, broadly in line with forecasts of $1.33 billion, the company reported earnings per share of 67 cents, below the 69 cents projected. Pinterest forecast sales in Q1 2026 to fall between $951 million and $971 million, missing average analyst estimates of $980 million.

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Pinterest forecasts downbeat revenue as it battles for digital ad dollars; shares plunge

Pinterest forecasts downbeat revenue as it battles for digital ad dollars; shares plunge
markets
Nate Becker

DraftKings drops after issuing downbeat 2026 sales, profit forecasts

DraftKings plunged after the sports betting company gave downbeat guidance for the current year.

Shares were down 15% in recent after-hours trading.

It forecast: 

  • Revenue between $6.5 billion and $6.9 billion, compared with analysts’ estimates of $7.29 billion, according to FactSet. 

  • Adjusted EBITDA of $700 million to $900 million, compared with estimates of $981 million.

For the fourth quarter, DraftKings posted: 

  • Revenue of $1.99 billion, in line with Wall Street’s $1.99 billion expectation 

  • Earnings per share of $0.25, compared with a consensus estimate of $0.09. 

DraftKings Reports Fourth Quarter Revenue Growth of 43% | DraftKings Inc.

DraftKings Reports Fourth Quarter Revenue Growth of 43% | DraftKings Inc.

It forecast: 

  • Revenue between $6.5 billion and $6.9 billion, compared with analysts’ estimates of $7.29 billion, according to FactSet. 

  • Adjusted EBITDA of $700 million to $900 million, compared with estimates of $981 million.

For the fourth quarter, DraftKings posted: 

  • Revenue of $1.99 billion, in line with Wall Street’s $1.99 billion expectation 

  • Earnings per share of $0.25, compared with a consensus estimate of $0.09. 

markets
Max Knoblauch

Rivian climbs after posting better-than-expected Q4 results; sees R2 SUV hitting the market in Q2

EV maker Rivian reported its fourth-quarter and full-year earnings results after markets closed on Thursday. Its shares climbed 13% in after-hours trading.

In the fourth quarter, which coincided with the end of federal EV tax credits in the US, Rivian booked $1.29 billion in revenue, down 26% year over year but above analysts’ expectations of $1.26 billion. The company posted an adjusted loss of $0.54 per share in Q4, compared to the expected loss of $0.68 per share.

Rivian forecast full-year adjusted losses in the range of $1.8 billion to $2.1 billion, compared to the $1.75 billion loss expected by Wall Street.

2026 is set to be a big year for the company, with its upcoming $45,000 R2 SUV planned to begin deliveries in the second quarter. Rivian issued full-year delivery guidance of between 62,000 and 67,000 vehicles, compared to Wall Street’s expectations of 65,700. Analysts polled by FactSet expect 14,700 of those 2026 deliveries to be R2s. Last year, Rivian delivered 42,247 vehicles.

“It’s incredibly exciting to see the early strong reviews of the R2 pre-production builds, and we can’t wait to get them to our customers next quarter,” CEO RJ Scaringe said.

markets
Matt Phillips

Arista Networks soars as it beats on Q4 EPS and revenue, gives upbeat sales guidance

Arista Networks, which sells equipment and software used to run and monitor data center networks, reported better-than-expected fourth-quarter earnings and sales after the close of trading on Thursday.

Arista shares were up about 9% in the after-hours session.

Here’s what the switch and router maker reported:

  • Adjusted earnings per share of $0.82 vs. Wall Street expectations for $0.76, according to FactSet.

  • Sales of $2.49 billion vs. an expected $2.38 billion, per FactSet data.

  • A non-GAAP Q4 gross margin, a measure of how profitable a company’s core products are to produce, of 63.4% vs. previous guidance of 62% to 63%.

  • Guidance for Q1 sales of approximately $2.6 billion vs. the $2.46 billion expected on Wall Street.

  • Guidance for a Q1 non-GAAP gross margin of between 62% and 63% vs. the 63% FactSet forecast.

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