Latest news with #GeneralElectric
Yahoo
8 hours ago
- Business
- Yahoo
GE Vernova explores sale of Proficy software unit, Bloomberg News reports
(Reuters) -U.S. power equipment maker GE Vernova is exploring the sale of its industrial software business, Proficy, in a deal that could fetch as much as $1 billion, Bloomberg News reported on Friday, citing people familiar with the matter. Following its independence last year after a three-way split of General Electric, GE Vernova is benefiting from surging domestic power demand. This demand is expected to hit record highs in 2025, driven by rapid expansions in AI and cryptocurrency data centers, as well as increased energy consumption by households and businesses. The asset could be sold for between $900 million and $1 billion, the report said. The company is working with advisers and has reached out to industrial software firms and private equity investors, according to Bloomberg. GE Vernova declined to comment.
Reuters
8 hours ago
- Business
- Reuters
GE Vernova explores sale of Proficy software unit, Bloomberg News reports
June 27 (Reuters) - U.S. power equipment maker GE Vernova (GEV.N), opens new tab is exploring the sale of its industrial software business, Proficy, in a deal that could fetch as much as $1 billion, Bloomberg Newsreported, opens new tab on Friday, citing people familiar with the matter. Following its independence last year after a three-way split of General Electric (GE.N), opens new tab, GE Vernova is benefiting from surging domestic power demand. This demand is expected to hit record highs in 2025, driven by rapid expansions in AI and cryptocurrency data centers, as well as increased energy consumption by households and businesses. The asset could be sold for between $900 million and $1 billion, the report said. The company is working with advisers and has reached out to industrial software firms and private equity investors, according to Bloomberg. GE Vernova declined to comment.
CNA
8 hours ago
- Business
- CNA
GE Vernova explores sale of Proficy software unit, Bloomberg News reports
U.S. power equipment maker GE Vernova is exploring the sale of its industrial software business, Proficy, in a deal that could fetch as much as $1 billion, Bloomberg News reported on Friday, citing people familiar with the matter. Following its independence last year after a three-way split of General Electric, GE Vernova is benefiting from surging domestic power demand. This demand is expected to hit record highs in 2025, driven by rapid expansions in AI and cryptocurrency data centers, as well as increased energy consumption by households and businesses. The asset could be sold for between $900 million and $1 billion, the report said. The company is working with advisers and has reached out to industrial software firms and private equity investors, according to Bloomberg. GE Vernova declined to comment.
Hans India
a day ago
- General
- Hans India
Air India Black Box Data Retrieved In Deadly Ahmedabad Crash Investigation
Indian aviation investigators have successfully extracted crucial flight recorder data from the Air India crash that claimed 260 lives earlier this month, marking a significant milestone in determining the cause of the decade's deadliest aviation disaster, India's civil aviation ministry announced Thursday. The tragic incident occurred on June 12 when a London-bound Boeing 787 Dreamliner crashed shortly after departing from Ahmedabad, resulting in the deaths of 241 passengers and crew aboard the aircraft, along with additional fatalities on the ground. The catastrophic accident has prompted an intensive international investigation to understand the sequence of events that led to this devastating outcome. Recovery teams successfully retrieved both black box recorders in the days following the crash, with one cockpit voice recorder found on a building rooftop at the crash site on June 13, while the flight data recorder was located among the wreckage debris on June 16. These critical devices contain essential information about the aircraft's final moments and crew communications before impact. A joint investigation team comprising India's Aircraft Accident Investigation Bureau and the U.S. National Transportation Safety Board accessed the flight recorder data on Wednesday, representing a crucial breakthrough in the ongoing probe. The ministry emphasized that these analytical efforts aim to reconstruct the complete sequence of events preceding the accident while identifying contributing factors to improve aviation safety protocols and prevent similar future incidents. U.S. National Transportation Safety Board Chair Jennifer Homendy expressed optimism about the investigation's progress during an aviation industry event, praising the excellent cooperation between American and Indian authorities. She emphasized the importance of making investigation findings public promptly to enhance aviation safety awareness and prevent future tragedies, noting that her team has been working diligently to provide comprehensive assistance to Indian investigators. The investigation has revealed that the aircraft began losing altitude after reaching just 650 feet, with preliminary focus centering on potential engine thrust issues according to sources familiar with the matter. Reports suggest that investigators believe the Dreamliner's emergency power generator was operational during the crash sequence, potentially providing important clues about the aircraft's final moments. Boeing 787 aircraft are equipped with two General Electric recorders positioned at the front and rear of the aircraft, both capturing identical flight data sets. General Electric, which manufactured both the aircraft engines and the enhanced airborne flight recorder system, has dispatched technical experts to India to assist with the investigation process. The forward recorder features an independent power supply designed to provide backup power for approximately ten minutes if the aircraft's primary power source fails, according to previous NTSB documentation. This backup capability could prove essential in understanding the aircraft's final operational status during the emergency sequence. Aviation safety experts have noted that the decision to begin downloading recorder data approximately two weeks after the crash was unusually delayed compared to typical investigation timelines. Industry professionals typically expect preliminary updates on recorder status and initial data extraction to occur more rapidly in such high-profile incidents, particularly given the international attention surrounding this tragedy. The delay prompted speculation about potentially sending the black boxes to the United States for specialized analysis, though Indian authorities maintained that decisions regarding analysis location remained under consideration. The extracted data is expected to provide critical insights into aircraft performance parameters and cockpit conversations that occurred immediately before the crash. Most aviation accidents result from multiple contributing factors rather than single causes, making comprehensive analysis of all available data essential for determining the complete chain of events. Investigators typically release preliminary findings approximately 30 days after an accident, though complex cases may require extended analysis periods. Indian officials have maintained that all investigative actions have been conducted in full compliance with domestic regulations and international aviation safety obligations within appropriate timeframes. The collaborative approach with U.S. investigators demonstrates the commitment to thorough analysis using global expertise and resources to ensure comprehensive understanding of this tragic incident.
Yahoo
2 days ago
- Business
- Yahoo
Q1 Earnings Outperformers: GE Aerospace (NYSE:GE) And The Rest Of The General Industrial Machinery Stocks
Let's dig into the relative performance of GE Aerospace (NYSE:GE) and its peers as we unravel the now-completed Q1 general industrial machinery earnings season. Automation that increases efficiency and connected equipment that collects analyzable data have been trending, creating new demand for general industrial machinery companies. Those who innovate and create digitized solutions can spur sales and speed up replacement cycles, but all general industrial machinery companies are still at the whim of economic cycles. Consumer spending and interest rates, for example, can greatly impact the industrial production that drives demand for these companies' offerings. The 15 general industrial machinery stocks we track reported a mixed Q1. As a group, revenues missed analysts' consensus estimates by 2.1% while next quarter's revenue guidance was 1.5% below. Thankfully, share prices of the companies have been resilient as they are up 6.7% on average since the latest earnings results. One of the original 12 companies on the Dow Jones Industrial Average, General Electric (NYSE:GE) is a multinational conglomerate providing technologies for various sectors including aviation, power, renewable energy, and healthcare. GE Aerospace reported revenues of $9.00 billion, up 11.5% year on year. This print fell short of analysts' expectations by 7.9%, but it was still a satisfactory quarter for the company with an impressive beat of analysts' EBITDA estimates. Interestingly, the stock is up 40.1% since reporting and currently trades at $249.81. Is now the time to buy GE Aerospace? Access our full analysis of the earnings results here, it's free. With its magnesium alloys used in the construction of the famous Spirit of St. Louis aircraft, Luxfer (NYSE:LXFR) offers specialized materials, components, and gas containment devices to various industries. Luxfer reported revenues of $97 million, up 8.5% year on year, outperforming analysts' expectations by 11.9%. The business had an incredible quarter with a solid beat of analysts' EPS estimates and an impressive beat of analysts' EBITDA estimates. Luxfer achieved the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 17.3% since reporting. It currently trades at $11.72. Is now the time to buy Luxfer? Access our full analysis of the earnings results here, it's free. Founded in 1987, Icahn Enterprises (NASDAQ: IEP) is a diversified holding company primarily engaged in investment and asset management across various sectors. Icahn Enterprises reported revenues of $1.87 billion, down 24.6% year on year, falling short of analysts' expectations by 29%. It was a disappointing quarter as it posted a significant miss of analysts' EPS estimates. Icahn Enterprises delivered the weakest performance against analyst estimates and slowest revenue growth in the group. As expected, the stock is down 7.6% since the results and currently trades at $8.06. Read our full analysis of Icahn Enterprises's results here. With 19 different brands across the globe, Columbus McKinnon (NASDAQ:CMCO) offers material handling equipment for the construction, manufacturing, and transportation industries. Columbus McKinnon reported revenues of $246.9 million, down 7% year on year. This print came in 1.3% below analysts' expectations. Overall, it was a mixed quarter for the company. The stock is down 14.5% since reporting and currently trades at $15.17. Read our full, actionable report on Columbus McKinnon here, it's free. Originally founded in 1906 as a thermostat company, Honeywell (NASDAQ:HON) is a multinational conglomerate known for its aerospace systems, building technologies, performance materials, and safety and productivity solutions. Honeywell reported revenues of $9.82 billion, up 7.9% year on year. This result surpassed analysts' expectations by 2.5%. It was a very strong quarter as it also recorded a solid beat of analysts' EBITDA estimates. The stock is up 10.6% since reporting and currently trades at $221.72. Read our full, actionable report on Honeywell here, it's free. Thanks to the Fed's rate hikes in 2022 and 2023, inflation has been on a steady path downward, easing back toward that 2% sweet spot. Fortunately (miraculously to some), all this tightening didn't send the economy tumbling into a recession, so here we are, cautiously celebrating a soft landing. The cherry on top? Recent rate cuts (half a point in September 2024, a quarter in November) have propped up markets, especially after Trump's November win lit a fire under major indices and sent them to all-time highs. However, there's still plenty to ponder — tariffs, corporate tax cuts, and what 2025 might hold for the economy. Want to invest in winners with rock-solid fundamentals? Check out our Top 6 Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.
