Key Highlights

● Bloom slid after hours on October 22, with sources reporting declines of differing sizes.

● Bloom makes solid oxide fuel cell systems that generate electricity on site.

● Earnings of $0.94 a share beat the $0.69 analysts expected.

● Bloom raised its outlook for 2026.

Bloom Energy (NYSE:BE) slid after the bell on Thursday, October 22, 2026, even though the fuel cell maker reported third-quarter results that topped Wall Street's estimates and raised its outlook for 2026. The stock, listed on the NYSE Composite, fell in after-hours trading, with sources reporting declines of differing sizes.

Bloom had already fallen during the regular session, along with other AI power stocks.

A clear beat

Bloom Energy reported earnings of $0.94 per share for the third quarter, well above the $0.69 analysts had expected, according to market data. The company also raised its outlook for 2026.

The after-hours drop was described as a sell-the-news move. That phrase refers to a pattern in which investors buy a stock ahead of an expected positive event, such as strong earnings, and then take profits once the news is out, pushing the price lower even when results are good.

Why the AI power trade was under pressure

Bloom makes solid oxide fuel cell systems that generate electricity on site, and it has become a popular way for investors to bet on the power needs of AI data centers. Hyperscalers and data center operators have looked for ways to secure electricity quickly as grid connections become harder to obtain.

That made Bloom vulnerable to Thursday's broad retreat from AI infrastructure. Meta Platforms (NASDAQ:META) reported heavy spending on AI and its first cash outflow in more than a decade, according to market data, which raised questions about how data center build-outs will be funded.

AI power names were hit hard during the regular session. GE Vernova (NYSE:GEV) was among the weakest performers in the S&P 500, while Vistra (NYSE:VST), Vertiv (NYSE:VRT), Eaton (NYSE:ETN) and Quanta Services (NYSE:PWR) all fell sharply. Comfort Systems USA (NYSE:FIX), another company tied to data center construction, also slid after the bell despite a strong quarter.

Remarks from Nvidia (NASDAQ:NVDA)'s chief executive fed the debate. "The demand of the capital is much greater than the availability of the capital," he said.

The regular session

The broader market was split. The Nasdaq Composite fell 694.00 points to 26,008.86, its steepest drop since June 5, and the S&P 500 lost 93.74 points to 7,663.43, its worst day since July.

Most stocks rose, however. About two of every three S&P 500 members gained, according to market reports, and the Dow Jones Industrial Average edged up 11.89 points to 52,867.98. Utilities rose, and consumer staples and health care hit record highs.

Western Digital (NASDAQ:WDC), Deckers (NYSE:DECK) and Comfort Systems were among other notable names that fell after the bell, according to market data.

Treasuries rallied as money left technology, and the 10-year yield closed back below a closely watched threshold for the first time since September 22.

Bloom Energy Faces Friday's Open and Data-Center Orders

The first question is whether Bloom's after-hours decline holds once regular trading opens on Friday, October 23.

Investors will be looking for detail on what drove the raised 2026 outlook, including new data center orders and Bloom's manufacturing capacity. The broader direction of AI power stocks may depend on Big Tech's spending plans, with Microsoft (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOGL) reporting on October 28 and Amazon (NASDAQ:AMZN) on October 29.