Stock Story -
What Happened:Shares of industrial conglomerate General Electric (NYSE:GE) jumped 8.4% in the morning session after the company a nice 'beat and raise 'quarter.' General Electric beat analysts' revenue and EPS expectations. Notably, the aerospace business recorded "double-digit growth in orders, operating profit, and free cash flow." Management observed encouraging trends as air traffic growth stayed positive, with departures up 9% year to date. The company also raised its guidance for full-year revenue growth, operating profit, and EPS. Zooming out, we think this was still a decent quarter, showing the company is staying on track.
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What is the market telling us:General Electric's shares are not very volatile than the market average and over the last year have had only 6 moves greater than 5%. In context of that, today's move is indicating the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
General Electric is up 39% since the beginning of the year, and at $175.04 per share it is trading close to its 52-week high of $180.12 from March 2024. Investors who bought $1,000 worth of General Electric's shares 5 years ago would now be looking at an investment worth $2,054.
![Why General Electric (GE) Stock Is Trading Up Today](https://d68-invdn-com.investing.com/content/pic6a50a2c4cd1a3c22e5f27f926f9ed38f.jpeg)