Updated from 12 p.m. on share reversal.
NEW YORK (TheStreet) -- The alternative fuel sector was setting up for another day of robust gains on Tuesday, but the tides turned for three of the heavy-volume stock plays around mid-session.
Fuel-cell maker Plug Power (PLUG - Get Report) began to dive just after midday, after following Ballard Power Systems (BLDP - Get Report), ZBB Energy (ZBB - Get Report) and FuelCell Energy (FCEL - Get Report) higher for much of the session. Shortly after, FuelCell and Ballard Power Systems tumbled.
The industry was celebrating a days-long rally in the sector, extended by an above-consensus first-quarter report from FuelCell after the bell Monday.Danbury, Conn.-based FuelCell posted first-quarter revenue 22% higher to $44.4 million. The company reported an adjusted loss of $9 million, or 4 cents a share, compared with a loss of $12.5 million, or 7 cents a share, in the year-ago period. Product sales grew nearly 19% to $34.5 million and advanced technologies contracts more than doubled to $5 million on higher engagement with the U.S. Department of Energy Solid State Energy Conversion Alliance (SECA). Analysts surveyed by Thomson Reuters had anticipated a net loss of 4 cents a share and revenue of $43.4 million. Must Read: Warren Buffett's 10 Favorite Stocks STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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