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Shopify's $2.16 billion revenue beat a FactSet estimate of $2.12 billion. Live Nation Entertainment — The live music and entertainment company gained 4% after posting a third-quarter earnings beat. On the other hand, revenue of $7.65 billion missed the $7.75 billion analysts had forecasted. Sea — Shares surged 1.7% after the tech company reported a third-quarter revenue beat. Mosaic — Shares slid 9% after the chemicals company reported disappointing quarterly results.
Persons: Twilio, Wells, Wells Fargo, Donald Trump's, SentinelOne, Tyson, StreetAccount, On's, FactSet, Mosaic, Clint Freeland, Luciano Siani Pires, Scott Strazik, Strazik, Donald Trump, — CNBC's Michelle Fox, Alex Harring, Hakyung Kim, Jesse Pound, Pia Singh Organizations: Entertainment, Honeywell, Elliott Management, Aerospace, Automation, IAC, Trump Media & Technology, Deutsche Bank, Tencent, Shift4 Payments, GE, Financial Locations: , Swiss
GE Vernova CEO Scott Strazik: We can meet energy demands of AI
  + stars: | 2024-06-27 | 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 Vernova CEO Scott Strazik: We can meet energy demands of AIGE Vernova CEO Scott Strazik joins CNBC's 'Squawk Box' from the Aspen Ideas Festival to discuss how the company powers AI, wind projects, and more. NBCUniversal News Group is the media partner of the Aspen Ideas Festival.
Persons: Scott Strazik Organizations: GE, Aspen Ideas, NBCUniversal
GE Vernova is gaining momentum a month after launching as a standalone company, wielding assets that analysts say put the General Electric spinoff in prime position to benefit from the energy transition. GEV 1M mountain GE Vernova, 1 month "Through its robust portfolio of equipment and service offerings, we believe GE Vernova is in prime position to benefit from the 'Energy Transition Trifecta,'" Morgan Stanley analysts Andrew Percoco and Asmita Baskar told clients in a research note this month. Gas is the "bread and butter" of GE Vernova's business, said Maheep Mandloi, director of clean energy research at Mizuho Securities. There is an expectation that increased utilization of gas assets due to rising power demand will benefit GE Vernova's services business, Mandloi said. GE Vernova has reaffirmed its 2024 guidance of $34 billion to $35 billion in revenue.
Persons: Morgan Stanley, Andrew Percoco, Asmita Baskar, Goldman Sachs, Maheep Mandloi, GE Vernova, Scott Strazik, Mandloi, Mizuho, Baskar Organizations: GE Vernova, General Electric, GE, New York Stock Exchange, Investors, Mizuho Securities
The advent of artificial intelligence has sent demand for data centers skyrocketing, along with industrial components to keep all the AI chips from overheating. "The key for chipmakers with AI ambitions is keeping data centers cool," Melius Research analyst Jake Levinson told CNBC. Levinson said cooling technologies manufacturers Carrier Global , Trane Technologies and Johnson Controls are all seeing higher demand for HVACs. Then there are the companies that create the infrastructure used to regulate temperature – from Parker-Hannafin's fluid connectors to Dover's industrial-style pumps used in liquid cooling. "We're having to challenge ourselves and how we support that capacity growth," CEO Scott Strazik told CNBC after the company posted first-quarter earnings last month.
Persons: Jake Levinson, Levinson, DOV, Stephen Volkmann, Volkmann, Scott Strazik, He's, I've, we've Organizations: CNBC, Carrier Global, Trane Technologies, Johnson, Jefferies, Caterpillar, Cummins, GE Vernova, GE Locations: Parker
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with GE Aerospace CEO Larry Culp and GE Vernova CEO Scott StrazikGE Aerospace chairman and CEO Larry Culp and GE Vernova CEO Scott Strazik join 'Squawk on the Street' to discuss the company's transformation, the completion of the GE Vernova spinoff, the future of energy, growth outlook, and more.
Persons: Larry Culp, Scott, Scott Strazik Organizations: GE Aerospace, GE
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGE Aerospace CEO on company transformation: We were really in need of an operational turnaroundGE Aerospace chairman and CEO Larry Culp and GE Vernova CEO Scott Strazik join 'Squawk on the Street' to discuss the company's transformation, the completion of the GE Vernova spinoff, the future of energy, growth outlook, and more.
Persons: Larry Culp, Scott Strazik Organizations: GE Aerospace, GE
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