OT, is this Gilderesque stock another PWER??? CPST (Naz)
<<From Bloomberg News
Capstone Turbine Corp. shares jumped 20% Wednesday after a New Zealand newspaper reported that Fletcher Challenge Ltd. might sell its 11% stake in the Woodland Hills-based maker of generators for homes and small businesses.
The shares surged $7.69 to close at $46.75 on Nasdaq. They've nearly tripled since Capstone sold a 12% stake to the public last week, giving the company a market value of $3.43 billion.
Auckland-based Fletcher plans to sell the Capstone stake to concentrate on its forestry, energy and construction businesses, the New Zealand Herald reported. Capstone lost a total of $142.2 million from 1998 through March 31 and doesn't expect to post a profit until 2002.
Capstone makes generators able to produce as much as 30 kilowatts of electricity, enough to power a convenience store. The company plans to begin shipping larger units this year.
Capstone's microturbines are fueled by waste gas from oil and natural-gas wells, in addition to more conventional fuels. They're seen as a rival technology to fuel cells, which produce electricity using an electrochemical reaction that emits almost no pollution. Both technologies can generate electricity independent of a grid.
Capstone's biggest investors are Southern Union Co., a gas-utility owner based in Austin, Texas, and Vulcan Ventures Inc., the investment vehicle for Microsoft Corp. co-founder Paul Allen. >> |
