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☆ These are the most overbought stocks with the market at a record, including General Electric
▼ + stars: | 2024-03-01 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

The S & P 500 hit a fresh intraday record on Friday, building on what was a stellar February for Wall Street. But some stocks on Wall Street may be getting ahead of themselves, while others that have been under pressure could reverse course. Using our stock screener tool, CNBC Pro searched for the most overbought and oversold stocks on Wall Street, measured by their 14-day relative strength index (RSI). Stocks with a 14-day RSI above 70 are thought to be overbought, indicating that shares could soon experience a downturn. Shares of renewable energy firm Constellation Energy are also among the most overbought stocks on Wall Street, with a 14-day RSI of 85.6.

Persons: Insulet Organizations: Wall, Nasdaq, CNBC Pro, Electric, GE, General, GE Aerospace, Constellation Energy, Constellation, FactSet, Health, Humana, LSEG Locations: Wells Fargo

☆ Jim Cramer praises GE following U.S. regulatory approval to develop nuclear fuel
▼ + stars: | 2024-02-14 | by ( Paulina Likos | ) www.cnbc.com time to read: +1 min

GE's Verona Nuclear Fuel business said Wednesday it received approval from the U.S. Nuclear Regulatory Commission to manufacture, ship, and analyze the performance of higher enrichment fuel. GE YTD mountain GE stock performance year to date. "[General Electric] just keeps going higher," Cramer said Wednesday. While that's mainly due to demand for its aircraft engines, Cramer added that investors "love any way to be able to make nuclear fuel work." GEHC shares have gained 7% year to date compared to an S & P 500 gain of 4.5% in 2024.

Persons: CNBC's Jim Cramer, Cramer, GEHC Organizations: Verona Nuclear, U.S . Nuclear Regulatory Commission, GE, GE Healthcare, CNBC, GE Aerospace, Club Locations: Verona, GEHC

☆ GE Aerospace CEO Larry Culp: New build and commercial aerospace aftermarket 'couldn't be busier'
▼ + stars: | 2023-12-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGE Aerospace CEO Larry Culp: New build and commercial aerospace aftermarket 'couldn't be busier'Hosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Larry Culp, Brian Sullivan, “ Organizations: GE, CNBC

☆ Economics and nature square off in Dubai Airshow jet engine rift
▼ + stars: | 2023-11-17 | by ( Tim Hepher | ) www.reuters.com time to read: +5 min

The head of the world's largest international carrier was speaking in the midst of negotiations to buy dozens of Airbus A350-1000 jets powered by Rolls-Royce's XWB-97 engine, which have foundered for now over maintenance and pricing issues. I happen to be a service," Emirates President Tim Clark told reporters this week. INSURANCE-TYPE DEALSWhile the visible face of engine makers is technology, the way they generate much of their income resembles insurance. Rather than charge for repairs as they arise, engine makers increasingly strike long-term deals priced by the flight hour, agreeing to swallow the cost of planned and unexpected outages. To engine makers it means generating cash as soon as the engine enters service rather than waiting for shop visits.

Persons: Denis Balibouse, Tim Clark, Royce's, Larry Culp, Tufan Erginbilgic, Royce, Clark, Rolls, Nick Cunningham, Tim Hepher, Alexander Cornwell, Pesha Magid, Sarah Young, Rajesh Kumar Singh, David Evans Organizations: Boeing, Emirates, Cointrin Airport, REUTERS, Rights, Airlines, Royce, Airbus, GE Aerospace, Reuters, GE, Agency Partners, Thomson Locations: Cointrin, Geneva, Switzerland, Rights DUBAI, Dubai, India, Gulf

☆ Airbus bullish on jet output as profits override space charge
▼ + stars: | 2023-11-09 | by ( Tim Hepher | ) www.reuters.com time to read: +4 min

Airbus declined to elaborate on the charge, which came as the planemaker formally announced a restructuring in its Defence & Space division that has been in preparation for several months. Airbus CEO Guillaume Faury stuck to his guns, however. Airbus is producing A320-family jets in the low-50s per month instead of a planned level closer to 58, they said. On the loss-making A220, Airbus reiterated plans to raise output to 14 a month. "We are working very closely with them in the spirit of supporting them, but we also expect from Spirit to well support Airbus.

Persons: Steven Udvar, Guillaume Faury, Faury, Pratt, Safran, Whitney, Chris Calio, Spirit, Patrick Shanahan, Tim Hepher, Valerie Insinna, Allison Lampert, Matt Scuffham, Sharon Singleton, Matthew Lewis Organizations: Airbus, Defence, Space, Air Lease AL.N, Pratt & Whitney, CFM, GE Aerospace, GE, Boeing, Thomson Locations: Dubai, Paris, Washington, Montreal

☆ UK stocks fall as real estate shares drop; economic data on tap
▼ + stars: | 2023-11-06 | by ( Shubham Batra | ) www.reuters.com time to read: +2 min

REUTERS/Toby Melville/File Photo Acquire Licensing RightsSummaryCompanies Real estate shares top losersMelrose surges after unit signs deal with GE AerospaceFTSE 100 down 0.1%, FTSE 250 off 0.4%Nov 6 (Reuters) - UK stocks inched lower on Monday led by a drop in shares of real estate investment trusts, while investors awaited key economic data to assess the strength of the British economy. The commodity-heavy FTSE 100 (.FTSE) edged 0.1% lower, while the mid-cap index FTSE 250 (.FTMC) fell 0.4% after logging its best week in a year on Friday. Shares of real estate investment trusts (.FTNMX351020) shed 1.2% after the index tracking real estate stocks rose sharply last week. Other economic data this week includes housing prices, construction and services activity for October. Reporting by Shubham Batra in Bengaluru; Editing by Varun H K and Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

Persons: Toby Melville, Sanjay Raja, Andrew Bailey, Shubham Batra, Varun, Eileen Soreng Organizations: London Stock Exchange Group, City of, REUTERS, Real, Melrose, GE Aerospace FTSE, Aerospace, Melrose Industries, GKN Aerospace, GE Aerospace, Deutsche Bank, Bank of England, Wizz, Ryanair, JD Sports, Citigroup, Thomson Locations: City, City of London, Britain, Irish, Bengaluru

GE shares were up 6% at $113.14 in pre-market hours. The Boston-based group now expects 2023 adjusted profit per share of $2.55 to $2.65, compared with an earlier forecast of $2.10 to $2.30. "At GE Aerospace, we continue to experience rapid growth driven by robust demand and solid execution, largely in commercial engines and services," CEO Larry Culp said in a statement. GE's aerospace unit, which makes engines for Boeing Co (BA.N) and Airbus (AIR.PA) jets, posted double-digit growth in orders, revenue and profit from a year earlier. Shares of its aerospace unit will continue GE's listing on the New York Stock Exchange under the ticker symbol "GE", the company said.

Persons: Benoit Tessier, Larry Culp, RTX, Pratt, Whitney, Culp, Rajesh Kumar Singh, Sriraj Kalluvila, Jason Neely, Jan Harvey Organizations: Electric, GE, Boeing, Paris, REUTERS, General, GE Aerospace, Boeing Co, Airbus, New York Stock Exchange, AerCap Holdings, Thomson Locations: Le Bourget, Paris, France, Boston, Chicago, Bengaluru

☆ Jet engine maker CFM says suspect parts reached its own repair shops
▼ + stars: | 2023-10-05 | by ( Tim Hepher | ) www.reuters.com time to read: +4 min

"CFM is reviewing the documentation turned over by AOG Technics as part of our effort to determine the full extent of their sale of parts with fraudulent documentation," CFM said. AOG Technics could not be reached for comment. The CFM56 is the most sold jet engine in history and was developed by a transatlantic venture that turns 50 next year. The findings cover thousands of parts for the CFM56 engine as well as hundreds of parts for GE's CF6 engines, used mainly on commercial freighters. CFM56 engines entered service in 1982 and power the previous generation of Boeing (BA.N) 737s and about half the previous generation of Airbus (AIR.PA) A320s.

Persons: Philippe Wojazer, France's Safran, AOG Technics, Jose Zamora Yrala, CFM's, Tim Hepher, Bill Berkrot, Deepa Babington Organizations: REUTERS, Rights, Jet, CFM, GE Aerospace, AOG, CFM Materials, Boeing, Airbus, Thomson Locations: Reau, Paris, France, London

☆ Jet engine maker CFM says suspect parts found in its own repair shops
▼ + stars: | 2023-10-04 | by ( Tim Hepher | ) www.reuters.com time to read: +2 min

"CFM is reviewing the documentation turned over by AOG Technics as part of our effort to determine the full extent of their sale of parts with fraudulent documentation," CFM said. AOG Technics could not be reached for comment. CFM56 engines are repaired through third-party networks or at maintenance, repair and overhaul (MRO) facilities operated by CFM itself. The company said it had found four cases where parts from AOG entered its own facilities, impacting 16 engines. CFM said its more recent LEAP engine, used on the Boeing 737 MAX and some Airbus A320neo jets, was not affected.

Persons: Benoit Tessier, France's Safran, AOG Technics, Jose Zamora Yrala, CFM's, AOG, Tim Hepher, Chris Reese, Bill Berkrot Organizations: GE Aerospace, International Paris Air, Le, REUTERS, Rights, Jet, CFM, AOG, CFM Materials, Boeing, Airbus, Thomson Locations: Le Bourget, Paris, France, AOG

☆ Deutsche Bank says buy General Electric after monster 2023 run, sees more than 25% gain ahead
▼ + stars: | 2023-09-28 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

General Electric is having a banner year, and Deutsche Bank thinks the industrial giant could see even more gains going forward. The bank initiated GE with a buy rating and a $141 per share price target. GE YTD mountain General Electric stock has climbed more than 69% in 2023. "[W]e think the stock is well positioned to outperform— even after the big YTD run," Deuschle said. The analyst added GE Aerospace will create a "self reinforcing loop" to reinvest in technology and add to its market share.

Persons: Scott Deuschle, Deuschle, — CNBC's Michael Bloom Organizations: Deutsche Bank, GE, General, Aerospace, GE Aerospace

☆ Sneak peek at NASA aircraft that could transform air travel by the 2030s
▼ + stars: | 2023-07-26 | by ( Maureen O'Hare | ) edition.cnn.com time to read: +4 min

The US aerospace behemoths want to build, test and fly an emission-reducing, single-aisle aircraft before the decade is out. We’re trying to validate technology.”The first test flight of this full-scale demonstrator is set to take place in 2028. NASA hopes that one day the technology should serve about half of the commercial market through short- to medium-haul single-aisle aircraft. Airlines largely rely on single-aisle aircraft, which account for nearly half of aviation emissions worldwide, according to NASA. Boeing estimates that the demand for the new single-aisle aircraft will increase by 40,000 planes between 2035 and 2050.

Persons: CNN —, they’ll, “, Bill Nelson, It’s, Bob Pearce, Nelson, CNN’s Ashley Strickland Organizations: CNN, NASA, Boeing, EAA, Aeronautics Research Mission, GE Aerospace, Saab, AeroTEC Locations: Oshkosh, “, United States

☆ Factbox: Flurry of US-India deals on AI, defense as Biden, Modi meet
▼ + stars: | 2023-06-22 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +4 min

The following is a roundup of the major announcements:VISASThe Biden administration will make it easier for Indians to live and work in the United States. The United States intends to open new consulates in Bengaluru and Ahmedabad. India is opening a new consulate in Seattle this year and will soon announce two new consulates in the United States. The MQ-9Bs will be assembled in India, a joint statement said, and U.S. manufacturer General Atomics will also establish new facility in India. ADVANCED COMPUTINGIndia and the United States established a Joint Indo-U.S. Quantum Coordination Mechanism to facilitate joint research between the public and private sectors across both countries.

Persons: Narendra Modi, Joe Biden, Biden, Katherine Tai, Vikram Solar, Electric's, General Atomics, Atomics, Jarrett Renshaw, Heather Timmons, Grant McCool Organizations: Indian, U.S, The State Department, United, INDIA, Micron Technology, Micron, United States Trade, World Trade Organization, Minerals Security Partnership, European Union, India’s Epsilon Carbon, VSK Energy, JETS, Hindustan Aeronautics Ltd, Indian Air Force, GE Aerospace's, Tejas, GE, Reuters, SPACE, Artemis Accords, NASA, International Space Station, Thomson Locations: Washington, United States, U.S, Bengaluru, Ahmedabad, India, Seattle, Gujarat, US, Colorado, China, SPACE India

☆ GE to jointly produce fighter jet engines in India
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +1 min

[1/2] Indian Air Force (IAF) LCA Tejas performs an aerobatic display during the Aero India 2023 air show at Yelahanka air base in Bengaluru, India, February 13, 2023. REUTERS/Samuel Rajkumar/File PhotoJune 22 (Reuters) - General Electric's (GE.N) aerospace unit said on Thursday it has signed an agreement with India's state-owned Hindustan Aeronautics Ltd (HIAE.NS) to make fighter jet engines for the Indian Air Force. The agreement includes the potential joint production of GE Aerospace's F414 engines in India and the engines will be used to power Tejas fighter jets, GE said. Reuters reported in May the Biden administration was poised to sign off on a deal that would allow GE to produce jet engines powering Indian military aircraft. GE first began working with Hindustan Aeronautics and the Aeronautical Development Agency in 1986 to support the development of India's light combat aircraft with F404 engines.

Persons: Samuel Rajkumar, Electric's, Narendra Modi, Biden, Aishwarya Nair, Varun, Shounak Organizations: Indian Air Force, IAF, LCA Tejas, Aero, REUTERS, Hindustan Aeronautics Ltd, Indian, GE Aerospace's, Tejas, GE, Hindustan Aeronautics, Reuters, Aeronautical Development Agency, Thomson Locations: Aero India, Bengaluru, India, United States, Washington

☆ Inside China's spy war on American corporations
▼ + stars: | 2023-06-21 | by ( Eamon Javers | ) www.cnbc.com time to read: +6 min

Top intelligence and law enforcement officials in Washington are issuing a stark warning to American companies: The Chinese government wants to replace you. Asked whether the Chinese government wants to compete with or eliminate American companies, FBI Director Christopher Wray told CNBC: "Well, their definition of competing, I think, involves embracing the idea of eliminating." The paid-in foreign investment reached 127.69 billion yuan, up 14.5% year on year. Foreign companies including US investors have been upbeat about the China market and plan to expand in China. Former GE engineer David Zheng and GE Aerospace also declined to comment.

Persons: Christopher Wray, Sen, Marco Rubio, Rubio, Mark Warner, …, Warner, Xu Yanjun, Xu, James Olson, Xu Yanjun's, David Zheng, – CNBC's Katherine Liu, Bria Cousins, Laura Measher, Wally Griffith Organizations: CNBC, American, Democrat, World Trade, Ministry of State Security, GE, Boeing, Honeywell, GE Aviation, FBI, CIA, American Chamber of Commerce, Business Environment, US Department of Commerce, GE Aerospace Locations: Washington, America, U.S, China, Nanjing, Cincinnati, South China, reinvest

☆ GE says all options on the table over engine for stretched A220
▼ + stars: | 2023-06-19 | by ( ) www.reuters.com time to read: 1 min

PARIS, June 19 (Reuters) - GE (GE.N) Chairman and GE Aerospace CEO Larry Culp said on Monday all options were on the table, when asked whether the company would be interested in investing in a new engine for a potential larger version of the Airbus (AIR.PA) A220 jet. "I don't think we would rule anything in or rule anything out," he said at the Paris Airshow. GE co-owns engine maker CFM International with France's Safran (SAF.PA). The A220 is currently powered solely by engines from CFM competitor Pratt & Whitney (RTX.N). Reporting by Tim Hepher Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Larry Culp, France's Safran, Tim Hepher, Mark Potter Organizations: GE, GE Aerospace, Airbus, Paris Airshow, CFM, Pratt & Whitney, Thomson

☆ GE nears deal with India's Hindustan Aeronautics to co-manufacture fighter jet engines
▼ + stars: | 2023-06-09 | by ( Seema Mody | ) www.cnbc.com time to read: +3 min

General Electric is in final discussions to cement a partnership with India's Hindustan Aeronautics Ltd. to co-manufacture jet engines in the country, CNBC has learned. Earlier this week, U.S. Defense Secretary Lloyd Austin visited India and discussed the jet engine deal with Indian officials, sources told CNBC. The nature of the agreement — whether it will be labeled a partnership, joint venture or co-assembly — still remains to be seen. The potential GE deal comes as India's economy has grown exponentially, drawing more interest from corporate giants like Apple , Google and Amazon . "We certainly see a lot of activity brewing in India," GE CEO Larry Culp told CNBC in late April, weeks after Air India placed a massive order for more than 800 GE LEAP engines.

Persons: Cope, Narendra Modi, Lloyd Austin, Richard Rossow, India —, Daniel Silverberg, Tim Cook, Modi, Silverberg, Larry Culp Organizations: Indian Air Force, IAF, Tejas, The United States Air Force, USAF, General, India's Hindustan Aeronautics Ltd, CNBC, Indian, Washington , D.C, . Defense, GE, U.S . State Department, Capitol, State Department, Pentagon, Center for Strategic, International Studies, Washington, Capstone, Apple, Google, GE Aerospace, Air India Locations: Kalaikunda, India's West Bengal, Washington ,, India, U.S, Russia, Asia, China

☆ Air India plane from Delhi to San Francisco lands in Russia after engine problem
▼ + stars: | 2023-06-06 | by ( ) www.cnbc.com time to read: +3 min

A bird flies over a logo of Air India airlines at the corporate headquarters in Mumbai, India, October 19, 2021. An Air India plane flying from Delhi to San Francisco was forced to divert and land at an airport in Russia's Far East after it developed a technical issue with one of its engines, the airline said on Tuesday. The 216 passengers and 16 crew onboard were being offered support on the ground and accommodated in local hotels for the night, Air India said. Air India said it could not share any passenger details. GE Aerospace said it was aware of the diversion and working with Air India to resolve the issue.

Persons: Vedant Patel, Patel, Rosaviatsia Organizations: Air India, An, Boeing, United Airlines, Air, . State Department, General Electric, Union, Norwegian Air Boeing, Washington, GE, U.S . Treasury, U.S . Department of Commerce, GE Aerospace Locations: Mumbai, India, An Air India, Delhi, San Francisco, Russia's Far, Russia, Air India, U.S, Magadan, Okhotsk, Iran, Shiraz, United

ISTANBUL, June 6 (Reuters) - An Air India plane flying from Delhi to San Francisco was forced to divert and land at an airport in Russia's Far East after it developed a technical issue with one of its engines, the airline said on Tuesday. The 216 passengers and 16 crew onboard were being offered support on the ground and accommodated in local hotels for the night, Air India said. Air India said it could not share any passenger details. GE Aerospace said it was aware of the diversion and working with Air India to resolve the issue. However, Air India and some Gulf-based, Chinese and African carriers continue to fly over Russia, making flying times shorter and American rivals uncompetitive.

Persons: Rosaviatsia, Campbell Wilson, Biden, Aditi Shah, Tim Hepher, Joanna Plucinska, David Shepardson, Valerie Insinna, Alexnader Marrow, Gleb Stolyarov, Josephine Mason, Emelia Sithole, David Evans, Mark Potter Organizations: An, Boeing, United Airlines, Air, General Electric, Union, Norwegian Air Boeing, Washington, GE, U.S . Treasury, U.S . Department of Commerce, GE Aerospace, International Air Transport Association, Reuters, Thomson Locations: ISTANBUL, An Air India, Delhi, San Francisco, Russia's Far, Russia, Air India, Magadan, Okhotsk, Iran, Shiraz, India, Washington, United States, Moscow, Ukraine, American, U.S

☆ GE finance chief Dybeck Happe to step down
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +1 min

May 18 (Reuters) - General Electric Co (GE.N) said on Thursday Carolina Dybeck Happe would step down as finance chief of the industrial giant, as it prepares to complete the spin-offs of its businesses next year. Rahul Ghai will become the CFO of GE, effective Sept. 1, while retaining his role as the finance chief of GE Aerospace, which he has held since August 2022, the company said in a statement. "Since Rahul joined GE Aerospace, we have benefited greatly from his leadership, including his wealth of experience as a public company CFO and with the spin-off process," GE CEO Larry Culp said. Moller-Maersk executive, Dybeck Happe took over as GE's CFO in early 2020. In late 2021, GE announced it would split into three public companies that would focus on energy, healthcare and aviation.

☆ Here are Thursday's biggest analyst calls: Tesla, Amazon, GE, Home Depot, Elanco, SeaWorld & more
▼ + stars: | 2023-04-20 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Goldman Sachs reiterates Tesla as buy Goldman says Tesla's earnings report on Wednesday was a "negative" but that it's standing by the stock. Bank of America reiterates Amazon as buy Bank of America says it's standing by Amazon heading into earnings next week. Bank of America upgrades WestRock to buy from neutral Bank of America said in its upgrade of the packaging solutions company that it sees "transformation benefits." Bank of America downgrades NetApp to underperform from neutral Bank of America said in its downgrade of the hybrid cloud data services company that it sees weaker demand. Morgan Stanley initiates SeaWorld as overweight Morgan Stanley said in its initiation of SeaWorld that it sees an attractive risk/reward.

☆ Jefferies upgrades this multinational on continued growth in the aerospace sector
▼ + stars: | 2023-04-20 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Jefferies thinks a storied multinational can benefit from strong growth in its aerospace segment. Jefferies posits that GE will grow its aerospace sector sales by 16% in 2023 to $30.2 billion. GE YTD mountain General Electric could continue to benefit from the growth of its aerospace segment, according to a Thursday note from Jefferies. "GE Aerospace will have a clearer story to tell following the GE Vernova spin in early 2024, which we believe is one of the better positioned stories to the aerospace ramp," Jefferies equity analyst Sheila Kahyaoglu wrote on Thursday. Aerospace margins could also grow to 20% by 2025, Kahyaoglu said, although operating expenses will continue to add pressure.

☆ GE's largest union ratifies 2-year contract extension with wage hike
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +1 min

April 19 (Reuters) - General Electric Co's (GE.N) workers have ratified a two-year contract extension that provides for a 12% rise in wages, their union said on Wednesday. The contract extension, which covers about 3,000 American workers of GE, will also ensure labor protections after the spinoff of the company's aerospace and energy divisions, according to the International Union of Electric Workers - Communications Workers of America (IUE-CWA). GE is set to separate its aerospace and energy businesses in early 2024 to become GE Aerospace and GE Vernova, respectively. The contract extension will take effect on July 1 and continue through June 22, 2025. Separately, eight local unions that together cover about 400 employees also ratified contract extensions with the company, GE said on Tuesday.

☆ Jim Cramer's top 10 things to watch in the stock market Friday
▼ + stars: | 2023-04-14 | by ( Jim Cramer | ) www.cnbc.com time to read: +3 min

JPM revenue $39.3 billion versus $36.2 billion expected; adjusted EPS $4.32 versus $3.41 expected. WFC revenue $20.7 billion versus $20.1 billion expected; adjusted EPS $1.23 versus $1.13; bought back $4 billion at $46. Dow stock JPM up nearly 6%, the most I have ever seen ahead of regular trading. Dow stock Boeing keeping a lid on the Dow after a big rally Thursday. Revenue $91.9 billion versus $89.4 billion expected.

☆ A 30-year-old property owner in Seattle is experimenting with short-term rentals and overcoming the 'Airbnbust' by setting up one-of-kind listings, including a 70s-themed 'Groovy Guest House'
▼ + stars: | 2023-03-09 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

Real estate investor Peter Keane-Rivera recently got into short-term vacation rentals. After nearly five and a half years of doing long-term rentals, Seattle-based property owner Peter Keane-Rivera is experimenting with short-term vacation rentals via Airbnb. "He said, 'you'll pretty much double the rent on a long-term rental unit if you convert it to a short-term vacation rental,'" Keane-Rivera, who works full-time at a large aerospace manufacturer in the Seattle area, told Insider. While that may have been true when his mentor was listing Airbnbs, vacation rental bookings started slowing down in 2022 and hosts started worrying about what was coined 'Airbnbust.' After looking through listings of other Airbnbs in the Seattle area and evaluating his competition, Keane-Rivera settled on creating a 70s-themed space.

A jump in air travel demand has driven up sales at its aerospace division, which makes and services engines for Boeing Co (BA.N) and Airbus SE (AIR.PA) jets. GE also reiterated its profit outlook for 2023 as booming demand in its aerospace business is expected to make up for the challenges in its renewable energy business. It expects adjusted earnings of $1.60 to $2.00 per share in 2023, with revenue growth percentage in high single digits. GE estimated that the aerospace business would generate double-digit revenue growth this year, translating into an operating profit of $5.3 billion-$5.7 billion. However, supply and labor shortages have hurt jet engine output, with CEO Culp saying it was a daily battle to meet jet engine demand.

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