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Market Morning Sentiment: $BLDP

Jul. 19, 2016 5:38 AM ETSPY, BLDP
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Market Morning Sentiment - July 19th

US stocks started the week out slowly as the S&P500, DJIA and Nasdaq rose a modest 0.24%, 0.09% and 0.52% respectively. The S&P500 and DJIA closed at fresh all time highs while the Nasdaq finished at its highest point all year. The technology, financial and consumer discretionary sectors led the gains.

Investors opted for a wait and see approach ahead of a multitude of quarterly earnings reports to scheduled to be released this week. The market is hoping to see improving margins that support the current high valuations.

The US dollar index fell 0.03 to 96.55 as commodity currencies, the euro and the pound each gained ground on the USD.

With economic and political uncertainty, a lack of clarity of what will happen next in the UK, and concerns about anemic global growth, market sentiment on the SPY is highly negative.

FEATURED COMPANY:$BLDP

$BLDP Social Sentiment and Chatter Volume

67% Strong Buy

Ballard Power Systems Shares Jump 44% on Announcement of Fuel Cell Deal

Ballard Power Systems Inc. is engaged in the design, development, manufacture, sale and service of fuel cell products. On July 18 th, $BLDP announced the signing of definitive agreements in Foshan, China with Guangdong Nation Synergy Hydrogen Power Technology Co. Ltd. for the establishment of an FCvelocity®-9SSL fuel cell stack production operation in the City of Yunfu, in Guangdong Province.

The stacks will be installed in hydrogen-powered buses and trucks. The deal is the latest in a string of deals made by $BLDP in China recently, taking advantage of subsidies and leveraging its clean technology and intellectual property in the biggest market in the world focused on curbing emissions.

The deal won't close until late 2016 but is said to have a minimum value of $168 million over 5 years. Ballard should see revenue from the deal in late 2017.

"We expect this transaction to deliver a number of high-value benefits to Ballard, including attractive near-term and long-term deal economics and cash flows, positive market reception, risk mitigation, scaling of MEA production with guaranteed volumes, and capital efficiency. In addition, Ballard is not exposed to any compromise of our core intellectual property since we will maintain production of all MEAs at our headquarter facility." - Randy MacEwen, Ballard's President and CEO

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