$PLUG

Plug Power (PLUG) said it tested with Microsoft a 3-megawatt hydrogen fuel cell backup power prototype for data centers, designed to replace a diesel generator during simulated grid outages. CEO Jose Luis Crespo said it is not a strategic pivot. Plug is pursuing cost cuts and targets EBITDA profitability by Q4 and profitability by 2028, while monetizing assets, including selling land and 164 MW interconnection assets to Stream for up to $76.5 million.

Plug Power (PLUG) reported Q2 results with operating margin improving to -36% from -102% and free cash flow improving to -$100.4M from -$230.4M. GenDrive deployments rose to 1,666 units. Service revenue rose 82% to about $30M with a 27% service margin, and fuel revenue rose ~15% to ~$39M. The company lifted its 2026 outlook and expects Q3 loss of $0.07/share. Analysts rate it a Hold with a $3.54 target.

U.S. indexes fell for a second day ahead of the July CPI report. The S&P 500, Nasdaq, and Dow closed down 0.3%, 0.6%, and 0.3%. WTI rose 1.6% to about $83.50 and Brent to $89.15. Alphabet (GOOGL) led declines, while Sea Limited (SE) gained 14% on Q2 results; Riot Platforms (RIOT) rose on a reported $9.1B deal with Anthropic.

Nebius Group (NASDAQ:NBIS) said it selected Bloom Energy fuel cells for its 300-megawatt AI data center in Vineland, New Jersey, citing no significant schedule impact. Bloom Energy (NYSE:BE) rose about 13% and FuelCell Energy (NASDAQ:FCEL) about 11% in sympathy. Nebius gained after its Q2 call, and Bloom reported Q2 revenue of $1.07B, up 165% YoY.

Plug Power reported adjusted net loss per share falling from $0.18 to $0.07 in Q2. Revenue rose 9% quarter over quarter to $178 million, while operating expenses dropped 50% year over year to $62 million. Gross margin reached breakeven. Services revenue rose 82% to about $30 million. The company raised its full-year revenue growth forecast to 15% to 16% and still burned $61 million cash in the quarter.

Plug Power (PLUG) shares rose about 5% to $2.22 after Q2 results. The company reported revenue of $178.3m, gross margin near breakeven, and net cash usage of about $61m. Net loss was $188.2m, though narrower than a year earlier, with the article weighing improved margins against ongoing losses and liquidity risk.

Ahead of Plug Power’s Q2 earnings after the Aug. 10 close, shares were up slightly. Consensus calls for a loss of $0.08 per share, about a 50% improvement year over year. Barchart cites bullish options skew (Aug. 14 put-to-call 0.35, upper strike $2.46) but also a “40% SELL” view and notes P/S above 4x and insider selling. Wall Street consensus is Hold with a $3.54 mean target.

Plug Power shares rose after the company raised full-year growth targets. In Q2, revenue increased 2% to $178M, service revenue rose 82% to $30M, and fuel revenue grew 15% to $39M. Plug deployed 1,666 GenDrive units. Gross margin improved to breakeven and adjusted net loss per share narrowed to $0.07. Plug forecasts 2026 revenue up 15%-16% and expects EBITDA positive in Q4.

Midday movers included Jabil, up 5% after a UBS upgrade to Buy, and AppLovin, down 5% after Bank of America downgraded to neutral and cut its price target to $400. Aramark rose 9% after Q3 beat and raised forecast. Under Armour fell 8% on a Barclays downgrade. Upwork dropped 13% on weaker guidance. Fermi jumped 22% after a first binding lease with TensorWave for 222 MW and about $6.5B contracted revenue.

Plug Power reported Q2 2026 revenue of about $178 million, up ~9% sequentially, with gross margin improving to near break-even. Operating expenses fell ~50% YoY to ~$62 million, and GAAP loss per share narrowed to $0.14. Plug raised full-year 2026 revenue growth guidance to 15% to 16% and expects positive adjusted EBITDAS in Q4 2026.