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Benzinga

Business

Henry Khederian

Why Plug Power And FuelCell Shares Are Falling Today

FuelCell Plug Power FCEL FuelCell Energy Inc Plug Power Inc

Shares of several industrial companies, including Plug Power Inc (NASDAQ:PLUG) and FuelCell Energy Inc (NASDAQ:FCEL), are trading lower in sympathy with the broader market as stocks continue to sell off in anticipation of Fed policy tightening in 2022. Weaker-than-expected fourth-quarter sales from General Electric (NYSE:GE) have also weighed on the sector.

General Electric's fourth-quarter adjusted EPS came in at 92 cents, beating the analyst consensus estimate of 87 cents estimate. GE's fourth-quarter sales of $20.30 billion did however miss the analyst consensus estimate of $21.48 billion.

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