Shares in engineering and design software company General Electric (NYSE: GE) rose 16.1% in July, according to data provided by S&P Global Market Intelligence. The more significant part of the move comes after a well-received set of second-quarter earnings released on July 26. 

It's not that the results were anything special in themselves, but that they were not as bad as many had feared they would be. Moreover, management maintained its full-year revenue and earnings guidance but reduced expectations for free cash flow (FCF) in 2022 by referring to a $1 billion "push out." The push out is due to supply chain disruptions and the "timing of renewable energy-related orders" CEO Larry Culp said on the earnings call. In addition, management fell short of confirming the long-established aim of hitting $7 billion in 2023.

There was also a reduction in full-year earnings guidance for GE Healthcare, and I think the segment has a challenge in meeting even the reduced guidance for $3 billion in profit. Meanwhile, the deterioration in GE Renewable Energy continues, with the segment having lost $853 million so far this year.

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Source Fool.com