Here's Why GE Aerospace (Formerly General Electric) Soared in March
Shares in General Electric, now GE Aerospace (NYSE: GE), rose by 11.9% in March, according to data provided by S&P Global Market Intelligence. The move occurred in the run-up to the successful spinoff of GE Vernova (NYSE: GEV) (listed as a separate company on April 2.) and bodes well for the new aerospace and defense company.
For reference, GE Vernova combines GE's power business (primarily gas turbines and services), its renewable energy (wind turbines), and its electrification businesses. It's an exciting company because it has an opportunity to significantly improve profitability in the coming years by working through a less profitable backlog in offshore wind and growing margins in offshore wind, electrification, and power services.
The spinoff has begun well, and GE Vernova's current market cap of $38 billion is more than many had anticipated.
Source Fool.com
