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- Fuel Cell stocks made gains this week and landed the top three spot among gainers, while it wasn't a great week for some space-focused companies as they took decliner spots.
- Industrial Select Sector SPDR (NYSEARCA:XLI) finished the week ending Oct. 15 in the green +1.92%, for the second straight week, after two successive red streaks. The SPDR S&P 500 Trust ETF (NYSEARCA:SPY) also rose (+1.83%) for the second week straight, after being on a decline for two weeks; YTD, XLI is +16.19%, while SPY is +19.25%.
- The top five gainers in the industrial sector (stocks with a market cap of over $2B) all gained more than +12% this week.
- FuelCell Energy (NASDAQ:FCEL) +15.65% gained the most among fuel cell companies. The stock made steady gains throughout the week, barring Oct. 14 when it was down slightly. In the past one year, the stock has risen +202.87% but YTD the stock is down -33.84%. The Wall Street Analysts Rating is Bearish.
- Ballard Power Systems (NASDAQ:BLDP) +15.36% came in a close second. The stock rose the most on Oct. 12 (+8.58%) after the company announced that it signed an Equipment Supply Agreement to provide 8 of its 70-kilowatt FCmove-HD fuel cell modules to Talgo. YTD, Ballard Power too has been down, -32.61%.
- Plug Power (NASDAQ:PLUG) +14.90% It was a busy week for the company and the stock had a seven day gaining streak till Oct. 13 (+12.79%), when it announced that it entered a strategic partnership with Airbus to study the feasibility of bringing green hydrogen to future aircraft and airports.
- The same day the company announced a collaboration with Phillips 66 to develop low-carbon hydrogen business opportunities. The day also brought an upgrade by Morgan Stanley to Overweight from Equal Weight with a $40 price target, up from $35, noting that the company could become a leader in the hydrogen economy.
- On Oct. 14, the company announced it was acquiring Applied Cryo Technologies. The company also issued FY 2022 sales guidance of ~65% increase over 2021.
- The chart shows 6-month total return performance of FCEL, BLDP, PLUG, ASTR, JBHT, against XLI:
- Astra Space (NASDAQ:ASTR) +12.52%. The space-launch company swung back to be among the gainers after landing in the decliners list two weeks ago. The company gained after Deutsche Bank called out near-term upside.
- J.B. Hunt Transport Services (NASDAQ:JBHT) +12.23% gained on the back of earnings after posting an impressive revenue and EPS beat. YTD, the stock has grown +39.44%
- The week's top five decliners among Industrial stocks (market cap of over $2B) lost more than -7% this week.
- Lilium (NASDAQ:LILM) -14.61% The electric jet maker lost throughout the week, barring Oct. 12 where is gained marginally (+0.62%). In the week, ABB signed a deal to provide charging infrastructure for Lilium’s (LILM) high-speed regional air network, which is scheduled for commercial launch in 2024.
- Virgin Galactic Holdings (NYSE:SPCE) -13.45% was among the decliners after being among the gainers list two months ago. The stock fell after the company announced that delaying its commercial space tourism service to Q4 2022 to begin a planned enhancement program. The stock fell to five-month low after pushing back commercial service timeline.
- The chart shows 6-month total return performance of LILM, SPCE, RKLB, TREX and SAVE against XLI:
- Rocket Lab USA (NASDAQ:RKLB) -12.98% fell in to the decliners this week after rallying in the previous month. Earlier in the week, the company announced that it was acquiring Colorado-based aerospace engineering firm Advanced Solutions.
- Trex Company (NYSE:TREX) -10.50% fell the most on Oct. 12 (-10.79%) after Baird downgrades the stock to Neutral from Outperform, citing a U.S. decking contractor survey that showed slowing demand and lower sales growth in Q3.
- Spirit Airlines (NYSE:SAVE) -7.72%, falling the most on Oct. 13 (-4.52%). The stock was being impacted by Delta's warning earlier in the day on higher fuel prices.
