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GE profits, FuelCell Energy announces sale

Fairfield-based General Electric posted increased revenue and profit for the fourth quarter on rising sales in emerging markets, higher banking profit, and stronger global sales of aircraft engines and oil and gas drilling equipment.  The company's shares fell nearly 3 percent in Friday morning trading though, because GE failed increase its profit margin as much as it had predicted.


Danbury-based FuelCell Energy  announced that it has priced an underwritten public offering of 22,000,000 shares of its common stock at a price to the public of $1.25 per share for gross proceeds of approximately $27.5 million. The net proceeds from the sale of the shares, after deducting the underwriters' discounts and other estimated offering expenses payable by the Company, will be approximately $26.0 million.


The offering is expected to close on or about January 23.

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