FuelCell’s stock soars after narrower-than-expected loss snaps long streak of misses

by Msnbctv news staff

Shares of FuelCell Power Inc.
shot up 10.7% in premarket buying and selling Tuesday, after the gasoline cell know-how firm reported a uncommon narrower-than-expected fiscal third-quarter web loss, helped by greater gross margin, and income that rose above forecasts. The web loss narrowed to $12.8 million, or 4 cents a share, from $16.1 million, or 7 cents a share, in the identical interval a yr in the past. That beat the FactSet consensus for per-share losses of 5 cents, to snap a seven-quarter streak of wider-than-expected losses. Income rose 43.2% to $26.8 million from $18.7 million, above the FactSet consensus of $21.1 million, boosted by a $7.2 million enhance in service agreements and license income. Gross margin improved to constructive 4.1% from destructive 16.7%. The inventory has tumbled 49.7% yr up to now by means of Monday, whereas the S&P 500
has gained 19.0%.

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