Shares of Constellation Energy (CEG) tumbled Monday morning despite an earningsꦏ beat as a recent regulatory decision dragged nuclear energy stock🐽s.

Constellation posted $6.55 billion in revenue for the third quarter, up about 7% year-over-year and about $1 billion above what analysts had expected, according to estimates compiled by Visible Alpha. Profits also rose from the same time last year, nearly doubling analyst estimates at $1.2 billion.

The company also lifted the bottom end of its projected range for full-year adjusted 澳洲幸运5开奖号码历史查询:earnings per share (EPS), expecting the🐻 metric between $8.00 and $8.40,🦋 up from $7.60 to $8.40 previously.

Talen, Amazon Denial Drags Nuclear Stocks

However, Constellation shares were down about 8% Monday morning despite its earnings beat as a Friday decision from the 澳洲ꦑ幸运5开奖号码历史查询:Federal Energy Regulatory Commission raised concerns about the nuclear energy industry. The agency ruled against a partnership between Amazon (AMZN) and Talen Energy (TLN) that would see an Amazon data center receive additional power from a nearby Talen nuclear facility, according to Reuters.

The panel's members, Reuters reported, said the agreement could limit power and raise p💛rices to residents in the surrounding area. Ta🦹len, Constellation, and other nuclear stocks fell Monday as markets grappled with whether nuclear partnerships with Big Tech companies can survive similar challenges.

Constellation announced a deal with Microsoft (MSFT) 澳洲幸运5开奖号码历史查询:last month to restart one unit of the Three Mile Island nuclear power plant in Pennsylvania to provide power for Microsoft's data centers and 澳洲幸运5开奖号码历史查询:artificial intelligence (AI) efforts.

Constellatioꦕn and Talen shares were each down as markets opened, but have both still doubled in value since the start of 2024.