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

Shares of FuelCell Energy Inc. FCEL, +23.34% changeable up 10.7% successful premarket trading Tuesday, aft the substance compartment exertion institution reported a uncommon narrower-than-expected fiscal third-quarter nett loss, helped by higher gross margin, and gross that roseate supra forecasts. The nett nonaccomplishment narrowed to $12.8 million, oregon 4 cents a share, from $16.1 million, oregon 7 cents a share, successful the aforesaid play a twelvemonth ago. That bushed the FactSet statement for per-share losses of 5 cents, to drawback a seven-quarter streak of wider-than-expected losses. Revenue roseate 43.2% to $26.8 cardinal from $18.7 million, supra the FactSet statement of $21.1 million, boosted by a $7.2 cardinal summation successful work agreements and licence revenue. Gross borderline improved to affirmative 4.1% from antagonistic 16.7%. The banal has tumbled 49.7% twelvemonth to day done Monday, portion the S&P 500 SPX, -0.02% has gained 19.0%.