Market Update

Shares of FuelCell Energy Inc FCEL gained about 8.6% after the company reported a narrower fiscal first-quarter loss. FuelCell posted a quarterly loss of $5.9 million, versus a year-ago loss of $10.9 million. After the payment of preferred dividends, FuelCell's per-share loss came in at $0.05, versus a per-share loss of $0.10. FuelCell's revenue climbed 12% to $31.3 million. However, analysts were expecting a loss of $0.06 per share on revenue of $33 million. FuelCell's product sales surged 15% to $29.6 million. Shares of Metals USA Holdings Corp MUSA declined about 0.3% after the company reported that it acquired Gregor Technologies LLC. Shares of Mobile TeleSystems MBT dropped about 1% after the company reported a surge in its fourth-quarter net profit. MTS' quarterly net profit climbed to $393.5 million, from $156 million in the year-ago period, and versus analysts' estimates of $372.54 million. Its operating income before depreciation and amortization (OIBDA) climbed to $1.28 billion from $1.15 billion, versus analysts' estimates of $1.24 billion. MTS' revenue fell 0.7% to $2.98 billion from $3.00 billion. Shares of Visteon Corp VC rose about 0.9% after the company reported that it has agreed to sell its automotive lighting business to Varroc Group for $92 million in cash. The automotive lighting business made revenue of $531 million in 2011. The transaction is likely to complete in the third quarter of 2012.