Shares of Constellation Energy (CEG) tu🍷mbled Monday morning despite an earnings beat as a recent re♋gulatory decision dragged nuclear energy stocks.

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官方开奖结果体彩网:earnings per share (EPS), expecting the metric between $8.00 and $8.40, up from $7.60 to 🧸$8.40 previo🗹usly.

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 澳洲幸运5官方开奖结果体彩网: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 prices to residents in the surrounding area. Talen, Constellation, and other nuclear stocks fell Monday🔯 as markets grappled with whether nuclear partnerships with Bi🦋g Tech companies can survive similar challenges.

Constellation announced a deal with Microsoft (MSFT) 澳洲幸运5官方开奖结果体彩网: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官方开奖结果体彩网:artificial intelligence (AI) efforts.

Constellation and Talen shares were each down as markets opened, but have both still doubl💝ed in value since the start of 2024.