: GE stock jumps toward near 2-year high after affirming 2023 outlook at investor gathering
Shares of General Electric Co. GE rallied 2.6% toward a near two-year high in premarket trading Thursday, after the aerospace, power and renewable energy company affirmed its full-year guidance at its investor conference. The company said it expects 2023 adjusted earnings per share of $1.60 to $2.00, organic revenue growth in the high-single-digit percentage range and free cash flow of $3.4 billion to $4.2 billion, which is what the company said it expected when it reported fourth-quarter results on Jan. 24. GE HealthCare Technologies Inc. GEHC completed its separation from GE on Jan. 3, while GE Aerospace and GE Vernova are expected to become independent in early 2024. “The future is bright at GE,” said Chief Executive Larry Culp. “We are operating from a stronger foundation and as a fundamentally simpler business that is creating significant value today and going forward.” The stock was on track to open at the highest price seen during regular-session hours since June 3, 2021. It has soared 36.9% over the past three months and run up 22.2% over the past 12 months, while the S&P 500 SPX has gained 1.5% the past three months and lost 6.7% the past year.
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