What's Going On With FuelCell Energy Stock?
Portfolio Pulse from Erica Kollmann
FuelCell Energy, Inc. (FCEL) and ExxonMobil Corporation (XOM) have extended their joint development agreement through March 31, 2024. The extension will allow further development related to manufacturing scale-up and work towards advancing the carbonate fuel cell technology for point source carbon capture applications and joint marketing and sales efforts. FCEL shares are trading higher following the announcement.
August 29, 2023 | 2:54 pm
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POSITIVE IMPACT
FuelCell Energy's stock is trading higher following the extension of its joint development agreement with ExxonMobil. The company is also set to release its Q3 financial results on Sept. 11.
The extension of the joint development agreement with ExxonMobil is a positive development for FuelCell Energy, which is likely driving the increase in its stock price. The upcoming release of its Q3 financial results could also impact the stock's performance.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
ExxonMobil has extended its joint development agreement with FuelCell Energy, which could potentially lead to advancements in carbonate fuel cell technology.
While the extension of the joint development agreement with FuelCell Energy is a positive development for ExxonMobil, it's unclear how much this will impact the company's stock in the short term, hence the neutral score.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50