Diamonds and Dogs
Clean Energy Fuels (CLNE)
Clean Energy Fuels, a gas utilities company, is up 18% on the day after announcing that their business plan to complete 36 new station projects is on track. This will be a record number for the company, and investors are anticipating future growth with the completion of the final projects. 14 station construction projects have been competed so far, and the company plans on completing the final 22 projects during the second half of the year. Alongside these projects, recent insider buying has been a strong signal for future growth for the Clean Energy Fuels.
QLogic lowered its guidance for the fiscal first quarter and is now down 21.35% to $11, far below its 20, 50, and 200 day simple moving averages. The networking server and storage manufacturer lowered its EPS guidance to 16 cents, far below its original guidance of 23 cents per share. Revenue was also lowered to $113 million, down $11 million from its previous guidance. This revision is due to lower than expected demand and general market weakness. Today's drop is far from what the company had previously been experiencing, as it was up almost 20% YTD at the beginning of June.