FuelCell Energy Shares Fall After Releasing Earnings and Moderna Shares Surge on News of Vaccine Testing in Children
On Tuesday, shares of FuelCell Energy fell, closing down 9.45%.
Shares of the fuel cell company plunged after the company reported its 1Q fiscal earnings. The company’s net loss increased, and its revenue decreased from the year-ago quarter—both missed analysts’ expectations.
Total revenue fell 8.5% to $14.9 million vs analysts’ expectations of $22.1 million. The company reported a net loss for the quarter of $0.15 a share compared with a net loss of $0.20 a share in the year-ago quarter.
Shares of FuelCell Energy are up over 35% this year.
On Tuesday, shares of Moderna surged, closing up 8.60%.
The pharmaceutical and biotechnology company’s shares surged after the company reported it had begun testing its COVID-19 vaccine in children. The study is being conducted on children age 6 months to 12 years-old in the U.S. and Canada.
Moderna is working on expanding its coronavirus vaccine to people under 18 years old. Last December, the company began testing the vaccine in teenagers aged 12 to 18.
The National Institute of Allergy and Infectious Diseases and the Biomedical Advanced Research and Development Authority are working together on the initiative.
Shares of Moderna have grown over 45% this year.
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