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Plug Power Rises 12%

Shares of hydrogen fuel cells manufacturer Plug Power Inc. (PLUG) are climbing 9 percent on Tuesday's trade after the company announced results for the first quarter. While the company's net loss widened, its revenues were higher, but came in below the Street expectations.

During the three-month period, the company posted net loss of $60.75 million or $0.12 per share, wider than net loss of $37.45 million or $0.12 per share in the year-ago period. On average, 16 analysts polled by Thomson Reuters expected the company to report net loss of $0.08 per share in the quarter. Analysts' estimates usually exclude one-time items.

Quarterly revenues soared 76 percent to $71.96 million, but fell short of analysts estimates of $76.9 million.

The stock is currently trading at $32.77, up $2.92 or 12% on the NASDAQ. PLUG has traded between $5.97 and $75.49 during the past 52 weeks.

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