GE Vernova to be spun off at start of Q2 2024, with stock to list on NYSE as ‘GEV’
Shares of General Electric Co. surged Tuesday, after the aerospace, power and renewable energy company’s third-quarter results beat expectations by wide margins, amid “robust demand,” largely in commercial engines and services.
The stock GE, +0.58% jumped 5.1% in premarket trading, enough to make it the S&P 500 index’s SPX second-best performer ahead of the open. The company said total orders rose 19% to $17.9 billion, including 34% growth in GE Aerospace orders and 3.4% growth in GE Vernova orders to $8.18 billion.
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GE’s spinoff of GE Vernova to occur at start of Q2 2024, will list on the NYSETomi Kilgore is MarketWatch's deputy investing and corporate news editor and is based in New York. You can follow him on Twitter TomiKilgore.
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