Market Overview

Plug Power Inc Up On 'Announcement' From New York Gov. Andrew Cuomo


Plug Power Inc (NASDAQ: PLUG) shares got goosed up Wednesday on anticipation of an announcement from New York Governor Andrew M. Cuomo that didn't quite happen.

Cuomo, in the midst of campaigning for a second term, had scheduled the official "announcement" at Plug's headquarters near Albany. "It was a pleasure to tour Plug Power today," was the highlight of the governor's remarks.

Plug shares near Wednesday's close having gained more than 5 percent. Basking in the glow, competitor FuelCell Energy Inc (NASDAQ: FCEL) also gained 5 percent.

Cuomo, a Democrat with an apparent lock on the November election, took credit during the plug tour for creating a half-million jobs in the state and for eliminating a state manufacturing tax earlier this year.

Plug's Chief Executive Andrew J. Marsh said Cuomo "is having a positive influence."


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