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2invest AG is engaged in the acquisition, management, and sale of investments in corporations and partnerships, especially but not exclusively in the biotechnology, life science, and IT sectors in Germany and abroad.

2invest AG

Post-spin-off&nbsp;GE Aerospace&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>)&nbsp;<a target="_blank" href="https://www.geaerospace.com/investor-relations?_gl=1&#x2A;5tipyc&#x2A;_ga&#x2A;MTE0MzE2MjM0NC4xNzEzODc0NDIy&#x2A;_ga_M2Q4NS0CLZ&#x2A;MTcxMzg3NDQyMi4xLjEuMTcxMzg3NDQzNy40NS4wLjA.&amp;_ga=2.110884301.939570466.1713874422-1143162344.1713874422" rel="noreferrer noopener">reported&nbsp;</a>first-quarter 2024 adjusted revenue growth&nbsp;of 15% year-over-year to $8.1 billion, with orders up 34% YoY to $11 billion.
The company reported increased orders in Commercial Engines &amp; Services and Defense &amp; Propulsion Technologies, with revenue growth driven by pricing, spare parts volume, and higher deliveries in widebody and defense sectors.
Consolidated revenue (including GE Aerospace and&nbsp;GE Vernova Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gev#NYSE">GEV</a>)) grew 11% YoY to $16.1 billion and&nbsp;on&nbsp;an adjusted basis, +10% YoY to $15.2 billion. Total orders increased 14% to $20.1 billion.
Adjusted EPS for the consolidated company was $0.82, up from $0.27 a year ago.
GE completed the <a href="https://www.benzinga.com/markets/equities/24/04/38047348/whats-going-on-with-ge-aerospace-ge-vernova-stock-today">separation of GE Vernova</a> on April 2 and received proceeds of $2.6 billion from the monetization of a portion of its shares in GE HealthCare Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEHC#NASDAQ">GEHC</a>).
GE Aerospace&#8217;s profit margin expanded 140 bps to 19.1%, and the consolidated adjusted profit margin stood at 10.2%, up 380 bps.
GE repurchased ~1.1 million shares for $0.1 billion in the quarter under a previously authorized $3 billion&nbsp;share&nbsp;repurchase program.
&#8220;Given our solid start to the year and outlook for the remainder of 2024, we are raising our full-year profit and free cash flow guidance. Moving forward as a focused global aerospace leader, we will continue to prioritize safety, quality, delivery, and cost — always in that order —while also investing in our future and driving long term profitable growth,&#8221; commented GE Aerospace Chairman and CEO H. Lawrence Culp.
Consolidated cash from operating activities was $1 billion for the quarter versus $0.2 billion a year ago. Free cash flow stood at $0.9 billion, up from the prior $0.1 billion a year ago.
GE Aerospace&#8217;s free cash flow for the quarter was $1.7 billion versus $0.8 billion in last year&#8217;s&nbsp;same&nbsp;quarter.
GE Aerospace 2024 Guidance:&nbsp;GE continues to expect adjusted revenue growth in low double digits; now sees&nbsp;operating&nbsp;profit of $6.2 billion-$6.6 billion (prior $6.0 billion-$6.5 billion).
The company expects adjusted EPS of $3.80-$4.05 (consensus $3.94) and <a href="https://www.benzinga.com/calendars/guidance">Free Cash Flow to be >$5B, >100% conversion.</a>
Price Action:&nbsp;GE shares are trading higher by 4.4% at $156.80 premarket at&nbsp;the last check Tuesday.

Earnings

Equities

News

Guidance

Movers

GEHC

Why Is GE Aerospace Stock Trading Higher Today?

Shares of steelmakers Cleveland-Cliffs Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) and Nucor Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) are moving lower Tuesday on the heels of the companies&#8217; first-quarter financial results. Here&#8217;s what <a href="https://www.benzinga.com/news/earnings/24/04/38365860/nucor-shares-fall-after-worse-than-expected-q1-results">you need to know</a>.
What Happened With CLF: After the market close on Monday, Cleveland-Cliffs reported first-quarter revenue of $5.2 billion, which missed the <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">consensus estimate</a> of $5.346 billion, according to <a href="https://benzinga.grsm.io/gxjhpowx7zks" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>. The company reported adjusted earnings of 18 cents per share, which missed analyst estimates of 22 cents per share. Steel shipments came in at 3.9 million net tons in the first quarter.
Cleveland-Cliffs noted it repurchased 30.4 million shares in the first quarter. The company's board also authorized a new share repurchase program of up to $1.5 billion.
Cleveland-Cliffs maintained all of its previous guidance for full-year 2024. The company still expects full-year steel shipments of 16.5 million net tons and year-over-year steel unit cost reductions of approximately $30 per net ton.
What Happened With NUE: Nucor also reported <a href="https://www.benzinga.com/news/earnings/24/04/38365860/nucor-shares-fall-after-worse-than-expected-q1-results">first-quarter financial results</a> after the market close on Monday. The company reported revenue of $8.14 billion, which missed estimates of $8.26 billion, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>. Nucor reported quarterly earnings of $3.46 per share, which missed estimates of $3.65 per share. Steel shipments totaled 6.22 million net tons in the fourth quarter. 
Nucor said it repurchased approximately 5.5 million shares of its common stock in the first quarter. The company&#8217;s board also declared a cash dividend of 54 cents per share, payable on May 10 to shareholders of record as of March 28. 
Nucor expects earnings in the second quarter to decrease compared to the first quarter. The largest driver for the expected decrease in earnings is the decreased earnings of the steel mills segment, primarily due to lower average selling prices partially offset by modestly increased volumes. 
Cleveland-Cliffs will hold a conference call at 8:30 a.m. and Nucor is scheduled to hold its call at 10:00 a.m. Et.
See Also: <a href="https://www.benzinga.com/general/biotech/24/04/38377536/novartis-stock-gains-on-european-drugmakers-q1-earnings-surprise-lifts-annual-outlook">Novartis Stock Gains On European Drugmaker&#8217;s Q1 Earnings Surprise, Lifts Annual Outlook</a>
CLF, NUE Price Action: At publication time, Cleveland-Cliffs shares were down 2.4% at $20.35, while Nucor shares were down 6.75% at $178.70, per <a href="http://pro.benzinga.com">Benzinga Pro</a>. 
Photo: BildWerk on Shutterstock

Cleveland-Cliffs, Nucor Shares Are Sliding Tuesday: What's Going On?

Affirm Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>) shares are trading lower Tuesday following a report indicating Walmart Inc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) majority-owned startup One has started offering <a href="https://www.benzinga.com/topic/buy-now-pay-later">buy now, pay later services</a>.
What To Know: According to a CNBC <a href="https://www.cnbc.com/2024/04/23/walmart-backed-fintech-one-introduces-buy-now-pay-later.html">report</a>, Walmart-backed fintech startup One has begun offering buy now, pay later options for big-ticket items in some of its U.S. stores. 
One is a direct competitor of buy now, pay later market leader Affirm, which has been the exclusive provider of installment loan services for Walmart customers since 2019. Late last year, Walmart even expanded its agreement with Affirm to add new payment options at self-checkout kiosks at more than 4,500 U.S. stores. 
CNBC visited a Walmart location in New Jersey and found that both One and Affirm were available payment options at checkout. Loans from either provider were available for purchases above about $100 in electronics, jewelry, power tools, automotive accessories and more. Groceries, alcohol and weapons purchases were not eligible for loans from either company. 
The report indicates that buy now, pay later drove approximately $19.2 billion in online spending in the first quarter of 2024, up 12% on a year-over-year basis. 
Affirm is due to report quarterly earnings on May 8. The company is expected to report a loss of 69 cents per share and revenue of $549.416 billion, per estimates from <a href="http://pro.benzinga.com">Benzinga Pro</a>. 
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/04/38377741/music-giant-spotifys-q1-surprise-investors-cheer-premium-subscriber-growth-and-profit-bump">Music Giant Spotify&#8217;s Q1 Surprise: Investors Cheer Premium Subscriber Growth And Profit Bump</a>
AFRM Price Action: Affirm shares were down 7.93% at $29.34 at the time of publication, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: courtesy of Walmart.

AFRM

Affirm Stock Drops As Walmart Rolls Out New Payment Options: The Details

General

AVAV

AV Unveils New AI Capability And Autonomy Kit For Unmanned Systems

Keefe, Bruyette &amp; Woods analyst Timothy Switzer reiterates Northwest Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWBI#NASDAQ">NWBI</a>) with a Market Perform and lowers the price target from $13 to $12.

Price Target

Reiteration

Analyst Ratings

NWBI

Keefe, Bruyette & Woods Reiterates Market Perform on Northwest Bancshares, Lowers Price Target to $12

BETR

Better Home & Finance Announces The Launch Of Better Home Equity Loan To Homeowners Interested In Accessing Home Equity As Cash

General Motors Company&nbsp;(NYSE:&nbsp;GM) reported a fiscal first-quarter 2024 sales growth of 7.6% year-on-year to $43.01 billion, beating the analyst&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38374297/gm-releases-2024-first-quarter-results-and-raises-full-year-guidance" rel="noreferrer noopener">consensus estimate of $41.88 billion</a>.
Adjusted EPS of $2.62 beat the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus estimate of $2.14</a>. The&nbsp;stock price climbed after the results.
GM's market share reached 8.1% for the quarter, compared to&nbsp;8.7% a year ago. In the U.S., the share changed to 15.4%, down from 16.4%.&nbsp;Its share in China reached 7.9%, down from 9.1% a year earlier.
GM's North American operations, backed by truck sales, mainly contributed to its first-quarter beat and guidance raise, CNBC&nbsp;<a target="_blank" href="https://www.cnbc.com/2024/04/23/general-motors-gm-earnings-q1-2024.html" rel="noreferrer noopener">cites</a>&nbsp;the automaker.&nbsp;
Steady vehicle pricing and&nbsp;higher retail sales&nbsp;in North America also helped GM accomplish a 10.6% adjusted profit margin in the region for the period – above its&nbsp;previously&nbsp;announced 8% to 10% range.
Adjusted EBIT for the quarter improved by 1.8% to $3.87 billion, with an adjusted EBIT margin of 9.0%, down by 50 bps. Net income margin was 6.9% versus 6.0% a year ago.
GM CFO Paul Jacobson said automaker's vehicle prices were flat to slightly lower due to vehicle mix during the quarter. He said&nbsp;the company still plans to produce 200,000 &#8211; 300,000 EVs in 2024.
The company held $25.5 billion in cash and equivalents as of March 31, 2024. The adjusted automotive free cash flow was $1.09 billion.
FY24 Guidance:&nbsp;General Motors projects adjusted EPS of $9.00 &#8211; $10.00 (<a target="_blank" href="https://www.benzinga.com/news/earnings/24/01/36842639/general-motors-vrooms-past-q4-street-expectations-expects-us-ev-business-to-take-off-from-second-ha" rel="noreferrer noopener">prior $8.50 – $9.50</a>) versus&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">consensus of $9.08</a>.&nbsp;
The company projects adjusted automotive free cash flow of $8.5 billion—$10.5&nbsp;billion (prior $8.0 billion—$10.0 billion) and reiterated capital spending of $10.5 billion—$11.5&nbsp;billion.
In the company conference call, General Motors CFO said the company expects to return to profit in China in the second quarter.
General Motors stock gained over 26% in the last 12 months. Investors can gain exposure to the stock via&nbsp;First Trust Nasdaq Transportation ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXR#NASDAQ">FTXR</a>) and&nbsp;Invesco S&amp;P 500 Pure Value ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RPV#NYSE">RPV</a>).
Price Action:&nbsp;GM shares are&nbsp;trading higher by 5.05% at $45.39 in&nbsp;premarket at the last check Tuesday.

Media

FTXR

General Motors Q1 Earnings Surprise: North America Growth, Rising Profit Margin And Annual Guidance Boost

NRXS

NeurAxis Announces New Medical Policy Coverage In North Dakota

Halliburton Expects 2024 Revenue Growth In The Low Double Digits

FCNCA

First Citizens Bank Announced That Its Healthcare Finance Business Provided $58.4M In Financing To Anchor Health Properties For The Construction Of A 92-bed Inpatient Rehabilitation Facility In Miami, Florida

MNDR

Mobile-Health Network and Lifepack Partner To Improve Healthcare Accessibility In Indonesia

Keefe, Bruyette &amp; Woods analyst Kelly Motta maintains MetroCity Bankshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCBS#NASDAQ">MCBS</a>) with a Market Perform and raises the price target from $27 to $28.

METROCITY BANKSHARES INC by MetroCity Bankshares Inc.

MCBS

Keefe, Bruyette & Woods Maintains Market Perform on MetroCity Bankshares, Raises Price Target to $28

TMUS

T-Mobile Rolls Out Two New Internet Plans To Give Customers Enhanced Options For Home And On The Go

Well-known hedge fund manager Anthony Scaramucci discussed his views on Bitcoin going forward, why he likes the token and a potential price target during an interview on <a href="https://www.youtube.com/watch?v=-mc9-NzBOjk&amp;t=1s">CNBC</a>.&nbsp;&nbsp;
Scaramucci has a long history in the financial sector, starting his career at Goldman Sachs before founding multiple hedge funds and even serving a short stint as the White House communications director. He is a known advocate for <a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment/">Bitcoin (BTC)</a>.
Don't Miss:
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<li>Dogecoin millionaires are increasing <a href="https://www.benzinga.com/money/dogecoin-millionaires-adv">— investors with $1M+ in DOGE revealed!</a></li>
<li>Bitcoin has jumped another 45% already this year &#8211;<a href="https://www.benzinga.com/money/kraken"> how much would you need to get started today?</a></li>
</ul>
In the interview, Scaramucci said that he likes Bitcoin from a technical point of view.
"It's decentralized in a way that makes it very powerful. The network itself is scaling," he said. "If you think about the way we treat money in our society over the last 5,000 years, Bitcoin checks all of the boxes. The only box it doesn't check is central bank manipulation, which I think makes it way more powerful."&nbsp;
Scaramucci is an advocate for the technology behind Bitcoin, which has not yet been adopted by enough people to fully realize its potential.
"Bitcoin is on an adoption curve. If you go back to Web1, Bitcoin is sort of in the 1999 point in the spectrum. â€¦ It won't be an inflation hedge or a store of value — until you get over a billion users," he said. 
According to Scaramucci, Bitcoin is on the cusp of a massive wave of adoption. However, he does not believe that the adoption will be large enough to reduce the volatility of Bitcoin.&nbsp;
Trending: If you invested $100 in DOGE when Elon Musk first tweeted about it in 2019,<a href="https://www.benzinga.com/money/etoro-doge"> here&#8217;s how much you&#8217;d have today</a>.
In terms of price targets, he said, "You could have 10% to 15% downside just because it is still a risk-on/risk-off asset. But long-term, I think this thing trades to $170,000, probably to $200,000, and that's consistent with where it's been over the 15 years of Bitcoin."&nbsp;
When asked about the potential for a Bitcoin crash, which was brought up after the comparison of Bitcoin to Web1.0 in 1999, Scaramucci said, "If you are willing to hold that asset, which we are, over a rolling four-year period of time, no one has ever lost money in Bitcoin."&nbsp;
Scaramucci noted that Bitcoin is still relatively young, and he believes there is still strong upside potential in the future if you can stomach the ups and downs for several years or more.&nbsp;
To end the interview, Scaramucci said that he and his team believe that Bitcoin can surpass the market capitalization of gold. The total amount of above-ground gold reserves is valued at around $16 trillion. So, if Scaramucci is correct and Bitcoin reaches a market cap of $16 trillion, a single BTC could be worth more than $800,000. This is an increase of over 1,100%.&nbsp;
Read Next:
<ul>
<li>About 22% of the adult population in the U.S. own a share of Bitcoin,<a href="https://www.benzinga.com/money/kraken"> how much would $10 get you today</a>?</li>
<li>The<a href="https://www.benzinga.com/money/kraken-2"> last-standing top crypto exchange without a major security breach</a> offers what now?</li>
</ul>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

Bitcoin's Market Cap Will Eclipse $16T, $800K Per BTC, Says Skybridge Capital's Anthony Scaramucci

WIIM

Invesco shares are trading lower following worse-than-expected Q1 financial results.

Contracts

Flowserve Announced That It Received Two Significant Middle East Project Awards For A Collective Value Of Over $150M

The Court will take that recommendation under advisement and will rule on the final number after briefing on the issues in the matter of BlueRadios, Inc. v. Kopin Corporation, Inc.
&nbsp;
"We are very disappointed in the outcome and do not believe the findings were justified by the facts presented," said Michael Murray, Kopin's Chief Executive Officer. "We are reviewing our options at this time, including an appeal of any judgment that is ultimately entered by the Court."

Legal

KOPN

Jury Verdict Entered In U.S. District Court For BlueRadios And Awarding ~$5.1M In Damages; Recommends $19.7M In Disgorgement And Exemplary Damages

Cohere Health And Humana Expand Prior Authorization Partnership, Adding Diagnostic Imaging And Sleep Services

HYPR

Hyperfine Announced The Acceptance Of Seventeen Ultra-low-field MRI-related Abstracts To Be Presented At The 2024 International Society For Magnetic Resonance In Medicine Annual Meeting In Singapore

Keefe, Bruyette &amp; Woods analyst Christopher O'Connell maintains Lakeland Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LBAI#NASDAQ">LBAI</a>) with a Market Perform and lowers the price target from $16.65 to $14.15.

LBAI

Keefe, Bruyette & Woods Maintains Market Perform on Lakeland Bancorp, Lowers Price Target to $14.15

2invest