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TheStreet Open House

BlackBerry (BBRY), Plug Power (PLUG) Back on Track

NEW YORK (TheStreet) -- Wall Street bulls are snapping up deals on Tuesday after a brutal sell-off in U.S. stock markets a day earlier left a few choice stocks trading at a significant discount.

This comes as welcome news for investors in BlackBerry (BBRY) and Plug Power (PLUG), two stocks which were pummeled as the market took a dive. Halfway through Tuesday's session the stocks are making up for losses, with BlackBerry up 5.8% to $9.63 and Plug Power surging 14.8% to $3.26.

The S&P 500 dropped more than 2% on Monday after data from the Institute for Supply Management showed manufacturing growth in January had dropped to an eight-month low.

Year to date, BlackBerry is up 28.8%, as investors grew more confident a turnaround could take place under the direction of new CEO John Chen.

For its February-ending fourth quarter, analysts surveyed by Thomson Reuters predict a net loss of 56 cents a share, a narrower drop than the prior quarter's loss of 67 cents a share. Consensus is for revenue of $1.13 billion, 57% lower than $2.68 billion a year earlier.

Meanwhile, Plug Power has spiked 105.8% since the beginning of the year after announcing contracts from top clients including Wal-Mart  (WMT), Kroger (KR) and Procter & Gamble (PG).

For its December-ended fourth quarter, analysts expect Plug Power to post a net loss of 8 cents a share on $7.45 million.

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