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Defense companies continue to struggle with margins, notably on fixed-price development programs. Commercial aerospace has its own challenges, and has traditionally been a cyclical industry.
GE Vernova's shares fell nearly 7% on Friday following a turbine-blade failure at an offshore wind farm in the UK, the latest in a string of incidents involving the power service firm's equipment.
GE Aerospace (NYSE: GE) has seen its stock rise by around 65% this year, outperforming the broader indices, with the S&P 500 up 18%. The stock now trades at 40x projected 2024 earnings of $4.13 per share.
DBSDY, CEPU, SLVM, GE and NCLH have been added to the Zacks Rank #1 (Strong Buy) List on August 14, 2024.
GE Vernova is highly leveraged to global catalysts such as increasing electricity and natural gas usage. The firm's impressive second-quarter results show that it is already benefiting from these trends. GE Vernova's valuation is attractive, making it a buy for medium-to-long-term investors.
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GE Aerospace recently emerged as a stand-alone company after spinning off other units. GE Aerospace's first two quarters of 2024 show strong growth.
We're entering the dog days of summer, and the stock market continues to be a rollercoaster ride for investors. After a strong rally in the year's first half, the waters got choppy in July as investors rotated capital out of technology stocks in favor of small-caps and value stocks.
Look at Industrial ETFs as companies report mixed Q2 2024 earnings.
GE Aerospace continues to outperform analysts' expectations in services. The pushout in LEAP engine deliveries means airlines will use CFM56 engines more.