By Jeff Siegel of GreenChipStocks.com
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In the 1973 movie Papillon (adapted from the 1969 French novel by Henri Charriere), there’s a scene where Papillon is considering jumping off a cliff to escape the island on which he is being imprisoned. His friend Dega says, “It seems so desperate. You think it will work?”
And Papillon replies, “Does it matter?”
Papillon had two options: Stay on the island and … Read the rest
A123 Systems (AONE) has been surging off the bottom over the past 30 minutes on news it will use $5 million from the US Dept of Energy to collaborate with Detroit Edison on a study to find out if electric car batteries can be bundled together to store emergency supplies of power for the electric grid. Detroit Edison, owned by DTE Energy, will bundle the battery packs containing 25 lithium batteries in 20 groups and … Read the rest
A123 Systems just announced that they are setting up 2 new business groups, one focused on transportation and one focused on cell design and development. Jason Forcier will head the Automotive Solutions Group, which will work with automtive and transportation manufacturers around the world to provide batteries and battery systems. Chris Tecca will head the Cell Products Group, which will focus on developing and improving a123’s battery cell products and Nanophosphate technology.
In a press … Read the rest
A123 Systems (AONE) beat estimates after the bell yesterday, but the company remains a long ways off from being profitable and results were basically flat over the year ago quarter. The company posted an EPS loss of .22/share, which is a bit worse than the .19/share loss reported last year, but better than the .33/loss analyst expected. Revenues came in at $23.6 million which is better than the $19 million analyst estimate and a slight … Read the rest
The coverage is beginning to come out on A123 Systems (AONE) and the first round is generally positive with some bullish comments coming out of Deutsche Bank.
Bank of America initiates with a Hold rating and $17 price target.
Morgan Stanley has initiated coverage an Equalweight which I assume is similar to a Hold rating.
Deutsche Bank initiates coverage with a Hold rating and price target of $17.
Hat tip to StreetInsider.com for the following … Read the rest
A123 Systems just announced that they have signed a joint marketing agreement with IHI Corporation, one of Japan’s largest manufacturers of heavy industry equipment. Under the agreement, the two companies will work together to seek out new energy storage customer opportunities in the Japanese market. The agreement is significant for A123 because IHI is a such major player in the Japanese market, with clients that include big names like Toyota, Honda,
Nissan, Mazda, Suzuki and … Read the rest
It’s clear that there is a tremendous appetite for the IPO of A123 Systems.. They initially estimated the price range around 9, then upped to 11 and it ultimately priced at 13.50. Trading opened up just a few minutes ago at 16.74 and it’s already up another 15% from there. I never chase IPO’s in the first few days of trading. I’ll have more on this in the coming days, but I always wait for … Read the rest
The much anticipated A123 Systems IPO is closer to a reality after a year long wait following its IPO registration on 8/8/08. While the launch date has yet to be announced (most likely between Sept 21 – 25), the lithium battery company revealed the expected stock price of $8 – $9.50/share last week and plans to sell 25 million shares, raising more than $200 million in the process. When the stock begins trading, it will … Read the rest