Here's the headline story from TheStreet:
President Obama is better for natural gas vehicle stocks than the companies' earnings reports.Recently:
That's likely to be the trading talk after Clean Energy Fuels(CLNE_) reported a loss of 10 cents on revenue of $46 million in the third quarter. The Street was looking for a loss of 7 cents on revenue of $51 million. A tax credit that expired at the end of 2009 impacted earnings per share for the company, as it lost the value of more than $3 million in a tax credit it was able to book in the third quarter 2009.
Even though it's a miss for Clean Energy Fuels, it's not likely to be the type of miss that weighs heavily on the shares. After all, the Street was expecting a loss, and companies in the natural gas vehicle space are bets on the enactment of federal legislation to support the development of natural gas vehicle fleets, as opposed to plays on quarter to quarter earnings.
Clean Energy Fuels shares were down 1.5% in after-hours trading on Monday.
Clean Energy Fuels and Westport Innovations(WPRT_) both recently rallied when President Obama mentioned natural gas vehicles as part of energy legislation he hopes to enact short of carbon cap-and-trade. In reality, what Obama proposed was no different from what is already expected to be a natural gas vehicle provision of any energy bill; it's getting a bill passed and on what timeline that remains the issue. The natural gas vehicle stocks even rallied when the EPA introduced its first emissions standards for heavy duty trucks, even though it didn't directly relate to nat gas vehicles....MORE
"Clean Energy Winners: EPA Emissions Trades" (CLNE; FSYS; WPRT; JCI)
T. Boone Pickens-- Score!: EPA Proposes Carbon Dioxide Regulations for Trucks, Buses, Pickups (CLNE)
Why Clean Energy Fuels Should Benefit From a Lame Duck Congress
Clean Energy to build natural gas fueling stations
T. Boone Pickens No Score: Clean Energy Fuels Settling Back While Call Buyers Proliferate (CLNE)
This one should be a natural for me to follow. It is as much an example of Political Capitalism as it is a business, and seeing that I hang out at the intersection of money and politics it should be a case study.
Instead I am bored by Boone and his machinations....
Jul 30, 2010
Analysis: Pickens must wait for payday on energy bill (CLNE)
Senate Gives Natural Gas Transportation Some Lovin', Pickens, Pelosi Score (CLNE)
Jul 23, 2010
"Boone Pickens unceremoniously drops wind from his energy plan"
And many more.