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WOODCLIFF LAKE, N.J., Sept. 17, 2024 (GLOBE NEWSWIRE) -- Hudson Technologies, Inc. (NASDAQ: HDSN), a leading provider of innovative and sustainable refrigerant products and services to the Heating, Ventilation, Air Conditioning, and Refrigeration industry – and one of the nation’s largest refrigerant reclaimers sponsored a report released today by RMI (founded as Rocky Mountain Institute) assessing the emissions reduction impact of the implementation of R-410A refrigerant reclamation in the United States residential HVAC sector. The report finds that lifecycle greenhouse gas emissions can be reduced by up to 70% (on a per pound basis) through the use of reclaimed refrigerant versus producing and using newly manufactured virgin refrigerant.
The residential air conditioning and heat pump (ACHP) market and the installed base are currently predominantly served by newly manufactured, virgin R-410A, which is a high global warming potential (GWP) refrigerant. The Environmental Protection Agency’s Technology Transition Rule will prohibit the manufacturing of R-410A for new residential equipment beginning in 2025, as it promotes the sector’s transition to new equipment that requires lower-GWP refrigerants. However, a bridge is necessary to provide an orderly transition and to allow the current installed base of equipment to achieve its economic life, consisting of approximately the next 20 years. RMI’s report illustrates how R-410A reclamation mandates to service the existing installed base significantly reduce greenhouse gas emissions and can serve as a viable, climate-friendly solution to meet market demand for R-410A with reduced need for further virgin R-410A manufacturing as the industry evolves to new technology and refrigerants.
“Refrigerant reclamation is an overlooked climate solution in the United States, and we are proud that Hudson is taking a leadership role in shaping the circular economy for refrigerants. As the availability of virgin R-410A decreases to meet EPA’s phasedown goals, refrigerant reclamation will be essential to meeting the demand for existing systems, limiting market disruptions, ensuring a smooth transition for consumers, and providing a significant reduction to GWP. We are pleased to partner with RMI to illuminate the significant emissions reduction role refrigerant reclamation plays in protecting our environment,” said Brian F. Coleman, President and Chief Executive Officer of Hudson Technologies.
Key report findings:
Refrigerants are the lifeblood of air-conditioning and heat pump equipment. As the EPA implements new rules constraining the supply of high global warming potential refrigerants and requiring a transition to more climate-friendly alternatives, recovering and reclaiming R-410A refrigerant for servicing millions of existing home heating and cooling systems will be paramount. RMI is pleased to partner with Hudson Technologies and provide critical research that illustrates why we must advance policies and adopt refrigerant lifecycle best practices from around the world today. By advancing reclamation practices, policymakers and industry can support the transition to lower GWP refrigerants, reduce greenhouse gas emissions across supply chains, and protect both businesses and homeowners from potential price spikes and service disruptions,” said Ankit Kalanki, co-author of the report and global cooling expert at RMI.
Download the full report here.
About Hudson Technologies
Hudson Technologies, Inc. is a leading provider of innovative and sustainable refrigerant products and services to the Heating Ventilation Air Conditioning and Refrigeration industry. For nearly three decades, we have demonstrated our commitment to our customers and the environment by becoming one of the first in the United States and largest refrigerant reclaimers through multimillion dollar investments in the plants and advanced separation technology required to recover a wide variety of refrigerants and restoring them to Air-Conditioning, Heating, and Refrigeration Institute standard for reuse as certified EMERALD Refrigerants™. The Company's products and services are primarily used in commercial air conditioning, industrial processing and refrigeration systems, and include refrigerant and industrial gas sales, refrigerant management services consisting primarily of reclamation of refrigerants and RefrigerantSide® Services performed at a customer's site, consisting of system decontamination to remove moisture, oils and other contaminants. The Company’s SmartEnergy OPS® service is a web-based real time continuous monitoring service applicable to a facility’s refrigeration systems and other energy systems. The Company’s Chiller Chemistry® and Chill Smart® services are also predictive and diagnostic service offerings. As a component of the Company’s products and services, the Company also generates carbon offset projects.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Statements contained herein which are not historical facts constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to, changes in the laws and regulations affecting the industry, changes in the demand and price for refrigerants (including unfavorable market conditions adversely affecting the demand for, and the price of, refrigerants), the Company's ability to source refrigerants, regulatory and economic factors, seasonality, competition, litigation, the nature of supplier or customer arrangements that become available to the Company in the future, adverse weather conditions, possible technological obsolescence of existing products and services, possible reduction in the carrying value of long-lived assets, estimates of the useful life of its assets, potential environmental liability, customer concentration, the ability to obtain financing, the ability to meet financial covenants under its existing credit facility, any delays or interruptions in bringing products and services to market, the timely availability of any requisite permits and authorizations from governmental entities and third parties as well as factors relating to doing business outside the United States, including changes in the laws, regulations, policies, and political, financial and economic conditions, including inflation, interest and currency exchange rates, of countries in which the Company may seek to conduct business, the Company’s ability to successfully integrate any assets it acquires from third parties into its operations, and other risks detailed in the Company's 10-K for the year ended December 31, 2023 and other subsequent filings with the Securities and Exchange Commission. The words "believe", "expect", "anticipate", "may", "plan", "should" and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made.
Investor Relations Contact:John Nesbett/Jennifer BelodeauIMS Investor Relations (203) 972-9200jnesbett@imsinvestorrelations.com | Company Contact:Brian F. Coleman, President & CEOHudson Technologies, Inc.(845) 735-6000bcoleman@hudsontech.com |
Hudson Technologies HDSN announced that it collaborated with LG Air Conditioning Technologies to supply EMERALD Refrigerants to LG's customer base. The agreement demonstrates Hudson Technologies' dedication to responsible and sustainable refrigerant management techniques.
Hudson Technologies & LG Combining Strengths
LG is an international player in the air conditioning business, committed to providing solutions that reduce energy consumption, boost efficiency and improve comfort.
LG will use Hudson Technologies' established expertise in refrigerant recovery and reclamation to provide lower Global Warming Potential ("GWP") reclaimed refrigerants to LG's customer base.
The alliance will benefit from the combination of Hudson Technologies' expertise in refrigerant recovery, reclamation and redistribution with LG's large customer network. The agreement will increase the HVAC industry's recognition and adoption of environmentally friendly products and practices.
HDSN’s Strategic Partnership to Reduce Carbon Emissions
Hudson Technologies' EMERALD Refrigerants are certified reclaimed refrigerants. They have much lower environmental effects and GWP values than virgin refrigerants. Approved reclaimed refrigerants have the same in-system performance as virgin refrigerants.
The partnership supports LG's efforts to reduce carbon emissions and drive the future of cleaner energy through sustainable solutions, including the adoption of refrigerants with lower GWP.
Hudson Technologies’ Q2 Top Line Declines Y/Y
HDSN reported second-quarter earnings of 20 cents per share, missing the Zacks Consensus Estimate of 26 cents. The metric was down from earnings of 41 cents per share a year ago.
Hudson Technologies posted revenues of $75.3 million for the quarter ended June 2024, missing the Zacks Consensus Estimate of $79 million. The metric was down from the year-ago quarter’s $90.5 million.
HDSN Shares Dip While Industry Grows
In the past year, HDSN shares have lost 36.3% against the industry’s 3.1% growth.
Hudson Technologies’ Zacks Rank & Stocks to Consider
HDSN currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks from the Industrial Products sector are Crane Company CR, Flowserve Corporation FLS and Cintas Corporation CTAS. These three companies have a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Crane’s 2024 earnings is pegged at $5.07 per share. The consensus estimate for 2024 earnings has moved north by 6% in the past 60 days. The company has a trailing four-quarter average earnings surprise of 11.2%. CR shares have gained 75.2% in a year.
Flowserve has an average trailing four-quarter earnings surprise of 18.2%. The Zacks Consensus Estimate for FLS’ 2024 earnings is pinned at $2.76 per share, which indicates year-over-year growth of 31.6%. The consensus estimate for 2024 earnings has moved north by 4% in the past 60 days. The company’s shares have gained 27.5% in a year.
The Zacks Consensus Estimate for Cintas’ 2024 earnings is pegged at $16.64 per share. The consensus estimate for 2024 earnings has moved north by 1% in the past 60 days. The company has a trailing four-quarter average earnings surprise of 4%. CTAS shares have gained 60.4% in a year.
Zacks Investment Research
WOODCLIFF LAKE, N.J., Sept. 12, 2024 (GLOBE NEWSWIRE) -- Hudson Technologies, Inc. (NASDAQ: HDSN) a leading provider of innovative and sustainable refrigerant products and services to the Heating, Ventilation, Air Conditioning, and Refrigeration industry – and one of the nation’s largest refrigerant reclaimers, today announced that it will host a panel discussion “Reclaiming the Future-Capitalizing on Emissions Reduction Opportunities in Refrigerant Management,” on Monday, September 23, 2024 at 11:30 a.m. The event, which will be held at the NASDAQ MarketSite, is part of Climate Week NYC 2024, the largest annual climate event of its kind, bringing together more than 600 events and activities across the City of New York.
The Hudson-hosted panel discussion will focus on the soon-to-be-released Rocky Mountain Institute (“RMI”) report assessing the climate impacts of refrigerant reclamation. Effectively managing refrigerants at the end of their life is a critical action in the fight against climate change. Expert panelists, Ankit Kalanki, RMI Principal; Liane Randolph, Chair of the California Air Resources Board; and Karen Meyers, Global Vice President, Government Affairs at Rheem Manufacturing, will discuss the report’s findings on how the US can further reduce greenhouse gas emissions from the refrigerant sector by stimulating the recovery and subsequent reclamation of the widely used refrigerant R-410A from end-of-life residential equipment. RMI will discuss their analysis showing that lifecycle emissions from reclaiming R-410a are significantly lower than virgin production. The conversation will also address how reclamation initiatives can reduce building and facility emissions and do so cost-effectively.
Brian F. Coleman, President & Chief Executive Officer of Hudson Technologies commented, “We are pleased to have the opportunity to sponsor this important panel discussion as part of Climate Week NYC 2024. As the United States continues through the phase down of HFCs, we look forward to bringing together this esteemed group of industry and non-profit experts to share perspectives on managing the gaps between supply and demand during the phasedown and capitalizing on the emission reduction opportunity enabled by improved lifecycle refrigerant management. As an early adopter of products and practices to promote the circular economy for refrigerant , Hudson welcomes this opportunity to continue our efforts to drive the global transition to more climate friendly and sustainable approaches to cooling and refrigeration. We look forward to an informative session and thank NASDAQ for providing the venue and our panel participants for their participation in this valuable discussion.”
Registration for this in-person event is limited and available on a first come/first served basis at: https://www.climateweeknyc.org/events/reclaiming-future-capitalizing-emissions-reduction-opportunities-refrigerant-management
About Hudson Technologies
Hudson Technologies, Inc. is a leading provider of innovative and sustainable refrigerant products and services to the Heating Ventilation Air Conditioning and Refrigeration industry. For nearly three decades, we have demonstrated our commitment to our customers and the environment by becoming one of the first in the United States and largest refrigerant reclaimers through multimillion dollar investments in the plants and advanced separation technology required to recover a wide variety of refrigerants and restoring them to Air-Conditioning, Heating, and Refrigeration Institute standard for reuse as certified EMERALD Refrigerants™. The Company's products and services are primarily used in commercial air conditioning, industrial processing and refrigeration systems, and include refrigerant and industrial gas sales, refrigerant management services consisting primarily of reclamation of refrigerants and RefrigerantSide® Services performed at a customer's site, consisting of system decontamination to remove moisture, oils and other contaminants. The Company’s SmartEnergy OPS® service is a web-based real time continuous monitoring service applicable to a facility’s refrigeration systems and other energy systems. The Company’s Chiller Chemistry® and Chill Smart® services are also predictive and diagnostic service offerings. As a component of the Company’s products and services, the Company also generates carbon offset projects.
A Climate Week NYC overviewClimate Week NYC is the largest annual climate event of its kind, bringing together over 600 events and activities across the City of New York – in person, hybrid and online. Each year, business leaders, political change makers, local decision takers and civil society representatives of all ages and backgrounds, from all over the world, gather to drive the transition, speed up progress, and champion change that is already happening.
Climate Week NYC is hosted by Climate Group, an international non-profit whose purpose is to drive climate action, fast. Climate Group hosts the official program during the week that brings together the most senior international figures from business, government, civil society and the climate sector.
This year, Climate Week NYC is being held from September 22-29, 2024. The event takes place every year in partnership with the United Nations General Assembly and is run in coordination with the United Nations and the City of New York.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Statements contained herein which are not historical facts constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to, changes in the laws and regulations affecting the industry, changes in the demand and price for refrigerants (including unfavorable market conditions adversely affecting the demand for, and the price of, refrigerants), the Company's ability to source refrigerants, regulatory and economic factors, seasonality, competition, litigation, the nature of supplier or customer arrangements that become available to the Company in the future, adverse weather conditions, possible technological obsolescence of existing products and services, possible reduction in the carrying value of long-lived assets, estimates of the useful life of its assets, potential environmental liability, customer concentration, the ability to obtain financing, the ability to meet financial covenants under its existing credit facility, any delays or interruptions in bringing products and services to market, the timely availability of any requisite permits and authorizations from governmental entities and third parties as well as factors relating to doing business outside the United States, including changes in the laws, regulations, policies, and political, financial and economic conditions, including inflation, interest and currency exchange rates, of countries in which the Company may seek to conduct business, the Company’s ability to successfully integrate any assets it acquires from third parties into its operations, and other risks detailed in the Company's 10-K for the year ended December 31, 2023 and other subsequent filings with the Securities and Exchange Commission. The words "believe", "expect", "anticipate", "may", "plan", "should" and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made.
Investor Relations Contact:John Nesbett/Jennifer BelodeauIMS Investor Relations (203) 972-9200jnesbett@imsinvestorrelations.com | Company Contact:Brian F. Coleman, President & CEOHudson Technologies, Inc.(845) 735-6000bcoleman@hudsontech.com | |
Sept 11 (Reuters) - Hudson Technologies Inc HDSN.O:
HUDSON TECHNOLOGIES INC: COLLABORATION WITH LG AIR CONDITIONING TECHNOLOGIES, USA FOR SUPPLY OF CO'S EMERALD REFRIGERANTS TO LG'S CUSTOMER BASE
Source text for Eikon: (Full Story)
Further company coverage: HDSN.O
WOODCLIFF LAKE, N.J., Sept. 11, 2024 (GLOBE NEWSWIRE) -- Hudson Technologies, Inc. (NASDAQ: HDSN) a leading provider of innovative and sustainable refrigerant products and services to the Heating, Ventilation, Air Conditioning, and Refrigeration industry – and one of the nation’s largest refrigerant reclaimers, has announced its collaboration with LG Air Conditioning Technologies, USA (“LG”) for the supply of Hudson’s EMERALD Refrigerants™ to LG’s customer base. The collaboration underscores the commitment of both companies to responsible and sustainable refrigerant management practices and highlights the ongoing industry transition to the use of reclaimed refrigerants.
LG Air Conditioning Technologies USA is a leading player in the global air conditioning market, distributing both commercial and residential air conditioning and building management solutions. As a leading player in the market, LG is committed to delivering products that provide an opportunity to reduce energy consumption, increase efficiency, and enhance comfort. With its ‘Better Life For All’ approach, through this agreement, LG will leverage Hudson’s proven expertise in refrigerant recovery and reclamation, to make lower GWP reclaimed refrigerants available to LG’s customer base.
Kate Houghton, Senior Vice President, Sales & Marketing for Hudson commented, “LG is a valued partner, and we are excited about this opportunity to work together toward our shared goal of creating and promoting sustainable refrigerant management practices. Our EMERALD Refrigerants™ are certified reclaimed refrigerants which, as a recycled product, can be manufactured with significantly lower environmental impact and GWP levels than the production of virgin refrigerants. Importantly, certified reclaimed refrigerants match the in-system performance levels of virgin refrigerants, offering LG’s customers a seamless alternative to adopting cleaner refrigerants. Through this collaboration, we are combining Hudson’s expertise in the recovery reclamation and redistribution of refrigerants with LG’s extensive customer base, to further the HVAC industry’s recognition and use of more environmentally sound products and practices.”
Darren Gibula, Vice President of Operations for LG Air Conditioning Technologies USA stated, “At LG, we’re committed to efforts to reduce carbon emissions and drive the future of cleaner energy through our all-electric heat pump HVAC products, the introduction of hydronics solutions and the adoption of refrigerants with a lower GWP (Global Warming Potential). Leveraging Hudson’s extensive experience in reclaimed refrigerants will enable LG to help our customers meet new California refrigerant-related regulations as well as reinforce our efforts to deliver more eco-conscious solutions for end-users nationwide.”
About Hudson Technologies
Hudson Technologies, Inc. is a leading provider of innovative and sustainable refrigerant products and services to the Heating Ventilation Air Conditioning and Refrigeration industry. For nearly three decades, we have demonstrated our commitment to our customers and the environment by becoming one of the first in the United States and largest refrigerant reclaimers through multimillion dollar investments in the plants and advanced separation technology required to recover a wide variety of refrigerants and restoring them to Air-Conditioning, Heating, and Refrigeration Institute standard for reuse as certified EMERALD Refrigerants™. The Company's products and services are primarily used in commercial air conditioning, industrial processing and refrigeration systems, and include refrigerant and industrial gas sales, refrigerant management services consisting primarily of reclamation of refrigerants and RefrigerantSide® Services performed at a customer's site, consisting of system decontamination to remove moisture, oils and other contaminants. The Company’s SmartEnergy OPS® service is a web-based real time continuous monitoring service applicable to a facility’s refrigeration systems and other energy systems. The Company’s Chiller Chemistry® and Chill Smart® services are also predictive and diagnostic service offerings. As a component of the Company’s products and services, the Company also generates carbon offset projects.
About LG Air Conditioning Technologies USA
LG Electronics USA’s Air Conditioning Technologies business is based in Alpharetta, Ga. LG is a leading player in the global air conditioning market, manufacturing both commercial and residential air conditioners and building management solutions. From consumer and individual units to industrial and specialized air conditioning systems, LG provides a wide range of products for heating, ventilating, air conditioning, water heating and energy storage. Eleven-time ENERGY STAR® Partner of the Year, LG Electronics USA (based in Englewood Cliffs, N.J.), is the North American subsidiary of LG Electronics Inc., a $60-billion-plus global technology and manufacturing. For more information, please visit lghvac.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Statements contained herein which are not historical facts constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to, changes in the laws and regulations affecting the industry, changes in the demand and price for refrigerants (including unfavorable market conditions adversely affecting the demand for, and the price of, refrigerants), the Company's ability to source refrigerants, regulatory and economic factors, seasonality, competition, litigation, the nature of supplier or customer arrangements that become available to the Company in the future, adverse weather conditions, possible technological obsolescence of existing products and services, possible reduction in the carrying value of long-lived assets, estimates of the useful life of its assets, potential environmental liability, customer concentration, the ability to obtain financing, the ability to meet financial covenants under its existing credit facility, any delays or interruptions in bringing products and services to market, the timely availability of any requisite permits and authorizations from governmental entities and third parties as well as factors relating to doing business outside the United States, including changes in the laws, regulations, policies, and political, financial and economic conditions, including inflation, interest and currency exchange rates, of countries in which the Company may seek to conduct business, the Company’s ability to successfully integrate any assets it acquires from third parties into its operations, and other risks detailed in the Company's 10-K for the year ended December 31, 2023 and other subsequent filings with the Securities and Exchange Commission. The words "believe", "expect", "anticipate", "may", "plan", "should" and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made.
Investor Relations Contact:John Nesbett/Jennifer BelodeauIMS Investor Relations (203) 972-9200jnesbett@imsinvestorrelations.com | Company Contact:Brian F. Coleman, President & CEOHudson Technologies, Inc.(845) 735-6000bcoleman@hudsontech.com |
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