FCEL reported Q2 fiscal 2024 results with revenue decline of 43%, beating consensus. The company recently announced new partnerships and added a $160 million agreement to backlog.
U.S. stocks are poised to start Monday’s session in the red as traders brace for the all-important decision from the Federal Reserve’s monetary policy committee on Wednesday and the May inflation report ahead of the rate decision.
Earlier in May, President Joe Biden announced increased tariffs on a range of Chinese goods, including clean energy technologies, leading to a spike for FuelCell Energy shares. The stock initially gave back the gains, but has been climbing steadily since last week.