Why GE Shares Are Moving Today
General Electric Company (NYSE:GE) shares are trading higher by 1.1% at $13.84 Monday morning after CNBC reporter Phil LeBeau tweeted "GE Aviation and Safran to develop new commercial airplane engine that will be 20% more fuel efficient and have 20% lower emissions. CFM plan is to have engine in service by mid 2030’s."
General Electric is known for its digital industrial offerings and massive installed base spread across a variety of products and services, including aircraft engines, gas turbines, wind turbines, and medical diagnostic equipment, among others.
After the sale of GE Transportation to Wabtec and a majority of its stake in Baker Hughes, as well as the sale of GE Biopharma to Danaher, the company's focus turned to aviation, legacy healthcare, power and renewable energy.
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