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☆ MORGAN STANLEY: Own these 12 stocks from the energy and industrials sectors, which have historically outperformed the rest of the market by 11% as the economy nears the end of its growth cycle
▼ + stars: | 2023-10-31 | by ( William Edwards | ) www.businessinsider.com time to read: 1 min

Morgan Stanley strategists say we're in a late-cycle environment. In a recent client note, the bank listed 12 energy and industrials stocks that should benefit. Despite stocks having technically entered a new bull market earlier this year, equity strategists at Morgan Stanley say the US economy is nearing the end of its current cycle. This story is available exclusively to Insider subscribers. Become an Insider and start reading now.

Persons: Morgan Stanley, Andrew B, Pauker Organizations: Howmet Aerospace, Marathon Oil, Treasury, Conference

☆ Europe's space agency boss sees progress on Ariane 6 launcher
▼ + stars: | 2023-10-31 | by ( Tim Hepher | ) www.reuters.com time to read: +4 min

Director-General of the European Space Agency (ESA) Josef Aschbacher smiles as he attends an interview with Reuters during the World Economic Forum (WEF) in Davos, Switzerland, January 18, 2023. Josef Aschbacher, director general of the European Space Agency (ESA), said a more precise 2024 launch period would be defined following a delayed long-duration firing test due on Nov. 23. Aschbacher declined to comment on the state of negotiations ahead of the Seville "Space Summit", which is also due to address climate change and Europe's ambitions in space exploration. This is something that is highly critical for Europe," Aschbacher said. But in Europe's system of horse-trading for space funding, any agreement on exploration is likely to depend on progress on the critical issue of Ariane 6 funding, the people said.

Persons: Josef Aschbacher, Arnd, Aschbacher, Safran, Anders Fogh Rasmussen, Tim Hepher, Mark Potter Organizations: European Space Agency, ESA, Reuters, Economic, REUTERS, Rights, Elon, SpaceX, Russian Soyuz, Airbus, NATO, Thomson Locations: Davos, Switzerland, Seville, Spain, France, Germany, Italy, Russian, East, Ukraine, Europe, India, China, United States, Russia

☆ Jim Cramer looks at the possibility of a bull market in the aerospace sector
▼ + stars: | 2023-10-30 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Jim Cramer looks at the possibility of a bull market in the aerospace sector'Mad Money' host Jim Cramer takes a closer look at the aerospace sector to assess if its a bull market worth putting your money into.

Persons: Jim Cramer

☆ Here are 16 stocks Jim Cramer is watching, including Microsoft, Chevron, Southwest
▼ + stars: | 2023-10-30 | by ( Jim Cramer | ) www.cnbc.com time to read: +1 min

Here are some of the tickers on my radar for Monday, Oct. 30, taken directly from my reporter's notebook:Big Morgan Stanley note: Chief Investment Officer and Chief U.S. Equity Strategist Mike Wilson says breadth leads, doesn't like breadth. Fed not near easing interest rates. Nick Timiraos, chief economics correspondent for The Wall Street Journal, interesting article. Higher bond yields can tighten financial conditions. Piper Sandler calls release of Microsoft 365 Co-Pilot artificial intelligence assistant the "iPhone moment" for the software and cloud giant.

Persons: Big Morgan Stanley, Mike Wilson, Nick Timiraos, Piper Sandler, Western Digital Raymond James, Valley National Raymond James, Jim Cramer's Organizations: Chief U.S, Equity, Wall Street, Microsoft, Western Digital, Devices, Newell Brands Aerospace, JPMorgan, Valley National, Cisco Systems

☆ China's J-20 stealth jet isn't 'a dominating aircraft,' but it doesn't need to be for what China's military has planned
▼ + stars: | 2023-10-29 | by ( Christopher Woody | ) www.businessinsider.com time to read: +10 min

China's air force continues to improve and expand its fleet of J-20 stealth fighter jets. The J-20 is China's first stealth jet and a growing part of an already sizable aviation force. China's air force and navy now make up the largest aviation force in the region and the third largest in the world. They have a total of 1,900 fighter jets, including J-20s that have been "operationally fielded" by China's air force, according to the US Defense Department. AdvertisementAdvertisementA Chinese jet, believed to be a J-20 prototype, in Chengdu in January 2011.

Persons: —, Wang Jingtian, We've, Brendan Mulvaney, Mulvaney, they've, Rick Joe, Zhang Hui, Kenneth Wilsbach, Wilsbach, Jia Tianyong, Rong Xu Organizations: Service, US Defense Department, US Air Force, Beijing, Getty, WS, Reuters, China Aerospace Studies Institute, Department of, US Pacific Air Forces, Air and Space Forces Association, Air Show, China News Service, Getty Images China, People's Liberation Army, PLA, People's Republic of China, US Air, Pentagon Locations: China, East China, Pacific, Taiwan, Changchun, Chengdu, People's Republic of, China's, Xiamen, Zhuhai, American

☆ Elon Musk appears to have given up on trying to camouflage his private-jet travels with an FAA program used by Jeff Bezos and Taylor Swift
▼ + stars: | 2023-10-28 | by ( Grace Kay | Taylor Rains | ) www.businessinsider.com time to read: +6 min

Last year, Elon Musk stopped using an FAA program allowing jet owners to fly incognito, JetSpy said. REUTERS/Aly SongThe FAA launched the PIA program in 2019 and has issued 390 alternate ID codes since the program began, an FAA spokesperson told Insider. Musk used his first alternate ID through the PIA program about a month later. The incognito registration number also doesn't prevent Sweeney from tracking the private jet via ADS-B Exchange, a public flight-tracking database. AdvertisementAdvertisement"The PIA program limits the ability to identify an aircraft in real-time using inexpensive, commercially available receivers," an FAA spokesperson told Insider.

Persons: Elon Musk, JetSpy, Musk, —, hasn't, Jack Sweeney, Sweeney, he's, LADD, it's, Elon, Aly Song, Forbes, Jeff Bezos, Taylor Swift, Christian Renneissen, Collins Organizations: FAA, Service, Twitter, Federal Aviation Administration, PIA, University of Central Florida, Gulfstream, Elon Locations: California, Texas, SpaceX's, Brownsville, Hawthorne, Shanghai, Rome

☆ Boeing assessing Lockbit hacking gang threat of sensitive data leak
▼ + stars: | 2023-10-27 | by ( Zeba Siddiqui | ) www.reuters.com time to read: +2 min

The hacking group posted a countdown clock on its data leak website with a message saying, "Sensitive data was exfiltrated and ready to be published if Boeing do not contact within the deadline!" "For now we will not send lists or samples to protect the company BUT we will not keep it like that until the deadline," the hacking group said. The hacking group typically deploys ransomware on a victim organization's system to lock it up and also steals sensitive data for extortion. Lockbit was the most active global ransomware group last year based on the number of victims it claimed on its data leak blog, according to the U.S. Cybersecurity and Infrastructure Security Agency (CISA). The hacking gang also did not immediately respond to a request for comment sent on an address it mentioned on its data leak site.

Persons: Lindsey Wasson, Lockbit, CISA, Zeba Siddiqui, Leslie Adler Organizations: Boeing KC, Pegasus, U.S . Air Force, REUTERS, Rights, Boeing, Boeing Co, Cybersecurity, Infrastructure Security Agency, Thomson Locations: Everett , Washington , U.S, ”, San Francisco

☆ Colonel-General Afzalov Confirmed as Chief of Russian Aerospace Forces - Defence Ministry
▼ + stars: | 2023-10-27 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +1 min

MOSCOW (Reuters) - Russia's defence ministry on Friday confirmed the appointment of Colonel-General Viktor Afzalov as commander of the country's aerospace forces, replacing General Sergei Surovikin who was removed from the role in August. Russian state-run RIA and TASS news agencies had reported his appointment last week, citing sources. Russia's Aerospace Forces comprise the air and space branches of its armed forces. Afzalov, 55, had been acting head of the aerospace forces after Surovikin's dismissal. In September Surovikin apparently returned to official duties as he was a part of a Russian Defence Ministry delegation that made a trip to Algeria, a major buyer of Russian weapons.

Persons: Viktor Afzalov, Sergei Surovikin, Afzalov, Wagner, Yevgeny Prigozhin, Prigozhin, Surovikin, Vladimir Putin’s, Gareth Jones, Hugh Lawson Organizations: TASS, Russia's Aerospace Forces, Ukraine, New York Times, Russian Defence Ministry, Reuters Locations: MOSCOW, Russian, Ukraine, Algeria

☆ Stanley Black & Decker just delivered the quarter we've been waiting for. Wall Street agrees
▼ + stars: | 2023-10-27 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Stanley Black & Decker (SWK) reported solid third-quarter results Friday, with cash generation and improved margin performance on full display. SWK YTD mountain Stanley Black & Decker YTD Stanley Black & Decker shares soared roughly 8% on the print, boosting their year-to-year gains to more than 11%. Stanley Black & Decker's marginally weaker-than-expected sales in the quarter were more than offset by further improvement to inventory levels. The company is targeting further gross margin expansion in 2024 as the work to get over the 35% by 2025 threshold continues. Stanley Black & Decker drills are displayed for sale at a Home Depot store in Emeryville, California.

Persons: Stanley Black, Decker, Decker YTD Stanley Black, it's, Donald Allan, Jim Cramer's, Jim Cramer, Jim, David Paul Morris Organizations: Revenue, LSEG, Management, Pro Tools, CNBC, Bloomberg, Getty Locations: Emeryville , California

☆ Here are the most oversold stocks due for a bounce following the market's tough week
▼ + stars: | 2023-10-27 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

The Nasdaq and the S & P 500 are each on pace for declines of about 2.5%. Some stocks hit by this week's losses have become oversold — and could be due for a bounce. Align Technology , another company that has taken a heavy beating to its stock price this week, could also be due for a comeback, based on analysts' price targets. The company's third-quarter results fell short of analysts' expectations , and a slate of analysts cut their price targets following the release. Analysts covering the stock forecast a 4.6% upside for the company's stock price, and less than 30% rate it a buy.

Persons: bode, Kevin Caliendo, Tesla, Henry Schein, Lockheed Martin, RTX, Greg Hayes, — CNBC's Michael Bloom Organizations: Tesla, Moderna, Nasdaq, Dow Jones, CNBC, Technology, UBS, Southwest Airlines, Aerospace, Lockheed, Dollar, Dwight, Marathon Oil, Allstate Locations: Covid, Ukraine, Israel

Seven died Wednesday at the Just-In-Time Recreation bowling alley, while eight others were fatally shot at nearby Schemengees Bar & Grille restaurant, police said. Here is what we know about some of victims:BILL AND AARON YOUNGBill Young and his 14-year-old son Aaron were shot and killed at the Just-In-Time Recreation bowling alley, Bill's brother Rob Young told Reuters. They were out for an evening with their bowling league, Rob Young said. TRICIA ASSELINAsselin was trying to call 911 when the gunman shot and killed her at the bowling alley, her brother DJ Johnson told CNN. Asselin, who worked at the bowling alley part time, was there for a night out with her sister, who survived the massacre, Johnson said.

Persons: Ronald Morin, Peyton Brewer, Ross, Joshua Seal, Bryan MacFarlane, Joseph Walker, Arthur Strout, Maxx Hathaway, Stephen Vozzella, Thomas Conrad, Michael Deslauriers II, Jason Walker, Tricia Asselin, Bill Young, Aaron Young, Bob Violette, Lucille Violette, William Brackett, Keith McNeir, AARON, Aaron, Bill's, Rob Young, TRICIA ASSELIN Asselin, DJ Johnson, Asselin, Johnson, JOSEPH WALKER, Walker, Leroy Walker, Joseph, Joey, BRYAN MACFARLANE, Kevin Lamarque, MacFarlane, Keri Brooks, Brooks, LUCY VIOLETTE Bob Violette, Cassandra Violette, Lucy, MICHAEL DESLAURIERS, JASON WALKER Deslauriers II, Michael Deslauriers Sr, Deslauriers, PEYTON BREWER, ROSS, Brewer, cornhole, STEPHEN VOZZELLA Vozzella, Schemengees, Vozzella, Cornhole, Steve Vozzella, Gabriella Borter, Sharon Bernstein, Eric Cox, Colleen Jenkins Organizations: Seven, Authorities, Reuters, CNN, Schemengees, REUTERS, Sears, Sun Journal, International Association of Machinists, Aerospace Workers, Bath Iron, IAM, National Association of, New, Thomson Locations: LEWISTON , Maine, Lewiston , Maine, Schemengees, Baltimore, Lewiston, Auburn , Maine, Lisbon Falls , Maine, U.S, Maine, Bath , Maine, New England, Sacramento , California

☆ Shenzhou-17 launch: China has sent its youngest-ever astronaut crew to the Tiangong space station
▼ + stars: | 2023-10-26 | by ( Marc Stewart | Nectar Gan | ) edition.cnn.com time to read: +7 min

It now has its own permanent outpost in orbit – a fully operational space station – and routinely rotates crews to live and work there. On Thursday, three Chinese astronauts lifted off on the Shenzhou-17 spacecraft from the Jiuquan Satellite Launch Center deep in the Gobi Desert, heading for the Tiangong space station for a six-month stay. With a lifespan of 15 years, it could become the only one left when the NASA-led International Space Station (ISS) retires in 2030. That exclusion has at least in part spurred Beijing to build its own space station. “We’ve been operating spacecraft, space shuttle, space station for decades.

Persons: China’s, Yang Liwei, Yang, ” Yang, “, ”, – Tang Shengjie, Jiang Xinlin, Tang Hongbo, Tang, Tang Shengjie, Tiangong, Leroy Chiao, they’ve, ” Chiao, “ We’ve Organizations: China CNN, CNN, NASA, Space, ISS, US, Positioning Locations: China, US, Russia, Europe, Japan, Canada, Beijing, United States, Soviet, Venezuela, South Africa

☆ We're changing our Honeywell price target after a mixed quarter and conservative guidance
▼ + stars: | 2023-10-26 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

HON YTD mountain Honeywell YTD Unfortunately, Honeywell hit a 52-week low in Thursday's terrible market. Moreover, guidance for the remainder of the year was mixed: Sales are expected to be better than we thought. Honeywell repurchased 5.3 million shares during the quarter, more than double the amount purchased in the second quarter. Additionally, for both the full year and the current quarter, earnings performance is being suppressed by pension liabilities. Qualitatively, continued volatility is expected but management believes they can deliver further growth, margin expansion, and cash growth "in line or above EPS growth."

Persons: We're, it's, we'll, Vimal, Jim Cramer's, Jim Cramer, Jim, Michael Nagle Organizations: Honeywell, Revenue, LSEG, Management, Commercial Aviation, Defense, Aero, mangement's, Aerospace Technologies, Industrial Automation, CNBC, Honeywell International Inc, New York Stock Exchange, Bloomberg, Getty Locations: New York

☆ Jim Cramer names six stocks worth looking to buy if there's a major sell-off
▼ + stars: | 2023-10-26 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Thursday said investors should be looking for damaged stocks, not damaged companies, in the event of a major sell-off. Cramer listed the names of six stocks that are worth looking at to buy on the way down:Microsoft : Cramer said the tech giant delivered a great quarter, seeing positive results from its cloud business, Azure. WM : WM, formerly known as Waste Management, saw a boost in gross margins from its use of automation, Cramer said. Meta : Cramer praised Facebook parent Meta's most recent quarter but pointed out the stock is currently trading at a low price-to-earnings multiple. "There will be other stocks that will be worth buying into the eventual crescendo of selling," Cramer said.

Persons: CNBC's Jim Cramer, Cramer, Meta's Instagram Organizations: Microsoft, Activision, WM, Waste Management, Reality Labs, Procter & Gamble, General, GE Locations: Israel

☆ Sharon Terlep — Reporter at The Wall Street Journal
▼ + stars: | 2023-10-25 | by ( Sharon Terlep | ) www.wsj.com time to read: 1 min

Sharon TerlepSharon Terlep is a reporter covering the global aerospace industry and industrial manufacturers including Boeing and GE in The Wall Street Journal’s corporate bureau in New York. Sharon joined the Journal in 2008 in Detroit, where she covered the bankruptcy and restructuring of General Motors. In New York, she has covered consumer products giants such as P&G and retail pharmacy industries. Before that she covered deals on Wall Street and did sports investigations for the Journal. She started her career at the Lansing State Journal in Michigan and also worked at the Detroit News.

Persons: Sharon Terlep Sharon Terlep, Sharon Organizations: Boeing, GE, General Motors, Lansing State Journal, Detroit News Locations: New York, Detroit, Michigan

Following Wedneday's trade, Jim Cramer's Charitable Trust will own 350 shares of STZ, increasing its weighting in the portfolio to 3% from 2.83%. The market has officially entered oversold territory, according to the S & P 500 Short Range Oscillator . While the market can feel treacherous at times, we've already seen a decent bounce off of session lows, a move we owe to the fact that the market is oversold. The potential for these positive intraday swings is why we generally approach oversold markets with an opportunistic lens, looking for stocks to buy small, instead of running away from the market. HON YTD mountain Honeywell YTD Along the same lines, when Honeywell announced its business segment realignment two weeks ago, the company said it anticipates strong third-quarter results with upside to earnings per share.

Persons: Jim Cramer's, we've, hasn't, Jim Cramer, Jim, Mario Tama Organizations: Constellation Brands, STZ, Constellation, Modelo Especial, Honeywell, Electric, GE, CNBC, Getty Locations: Los Angeles

Quarterly earnings reports for our industrial stocks begin this week amid an uncertain operating environment. HON YTD mountain Honeywell (HON) year-to-date performance Honeywell and Linde are the first two of the group to report — on Thursday before the bell. This was positive to see and it's reasonable to expect a clean quarter led by aerospace, Honeywell's largest business. Linde has beat and raised for 18 consecutive quarters, and history is likely to repeat itself when the industrial gas company reports. EMR YTD mountain Emerson Electric (EMR) year-to-date performance Emerson Electric is the last of our industrial names to report, on Nov. 7 before the opening bell.

Persons: we're, Stanley Black, Decker, —, CNBC's Jim Cramer, it's, Jim, You've, Vimal Kapur, Linde, Jack Umpleby, Emerson, Jim Cramer's, Jim Cramer, Wang Chun Organizations: Caterpillar, Honeywell International, Emerson Electric, Linde, LIN, DuPont De Nemours, Honeywell, LSEG, Aerospace, Electric, GE, Club, U.S, Management, CAT, Act, DuPont, Electronics, Emerson, National Instruments, SWK, CNBC, Future, Getty Locations: North America, China, Lianyungang, East China's Jiangsu

Expectations for persistently higher interest rates has led companies to alter plans as they eye 2024 warily. "EV demand next year could be lower than expectations," Lee Chang-sil, chief financial officer at South Korean battery maker LG Energy Solution (373220.KS) said on Wednesday, due to global economic uncertainty. GM on Tuesday said it would focus near-term EV efforts on meeting demand rather than hitting specific volume targets. If interest rates remain high or if they go even higher, it's that much harder for people to buy the car." Like many other industrial firms, carmakers hedge against commodity price swings, and with EV demand slowing, raw material prices have softened, including those used heavily in batteries.

Persons: Tesla, Aly, Lee Chang, Mary Barra, Elon Musk, Nidec, China's CATL, Ben Klayman, David Gaffen, Eric Onstad, Jonathan Oatis Organizations: REUTERS, Honda, EV, sil, South, LG Energy, General Motors, GM, Investors, Tech, Cox Automotive, European Union, Volkswagen, Fastmarkets, CME, U.S, Ford, EVs, Victoria Waldersee, Thomson Locations: Tesla China, Shanghai, China, KS, United States, Mexico, Detroit, New York, London, Berlin

☆ U.S. defense firm Teledyne raises 2023 profit target, beats Q3 earnings view
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

Oct 25 (Reuters) - U.S. defense contractor Teledyne Technologies (TDY.N) on Wednesday raised its full-year profit forecast after reporting better-than-expected quarterly earnings on strong performance in its business that makes monitoring and control equipment. Teledyne, which owns drone maker FLIR systems, also reported an 8.1% rise in its aerospace and defense business amid rising geopolitical tensions. The Pentagon has awarded lucrative contracts to refill its depleted weapons stockpile after shipping aid to Ukraine, adding to sales at U.S. defense contractors. California-based Teledyne expects a full-year profit of $15.82 to $15.96 per share, compared with its previously forecast range of $15.66 to $15.88. In the third quarter ended Oct. 1, Teledyne reported a quarterly profit of $5.05 per share, compared with analysts' estimates of $4.76.

Persons: Aishwarya Jain, Shinjini Organizations: Teledyne Technologies, Teledyne, Pentagon, U.S, Thomson Locations: Ukraine, California

☆ Morgan Stanley's stock playbook for this slowing, 'late-cycle' economy
▼ + stars: | 2023-10-25 | by ( Pia Singh | ) www.cnbc.com time to read: +6 min

To play this market, the firm recommended a "barbell" of traditional defensive stocks, some select growth opportunities and late-cycle cyclical names. Take a look below for some of Morgan Stanley's favorite stocks in this slow-growth environment. 1) Traditional Defensives Despite its year-to-date underperformance against the broader market, health care remains Morgan Stanley's preferred defensive sector. Still, popular consumer food companies Yum Brands and McDonald's are considered growth stocks based on their market cap and volatility. 3) Late-Cycle Cyclicals Several energy companies — including Marathon Oil , Valero Energy and ConocoPhillips — can shine in a late-cycle market environment, according to Morgan Stanley.

Persons: Morgan Stanley, Andrew Pauker, Pauker, Morgan Stanley's, Fisher, Dr Pepper, Eli Lilly, Devin McDermott, Ravi Shanker Organizations: Walmart, Fisher, " Beverage, CenterPoint Energy, Costco, Colgate, Palmolive, Yum Brands, UnitedHealth, Marathon Oil, Valero Energy, ConocoPhillips, Swift Transportation, Defense, Northrop Grumman, Howmet Aerospace, Delta Airlines

☆ General Dynamics beats quarterly estimates on robust military equipment demand
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

Saudi men are seen at General Dynamics stand displaying the latest defence system at World Defense Show in Riyadh, Saudi Arabia, March 6, 2022. REUTERS/Ahmed Yosri/File Photo Acquire Licensing RightsOct 25 (Reuters) - U.S. defense contractor General Dynamics (GD.N) beat Wall Street estimates on Wednesday, as buoyant military equipment demand helped overcome higher operating expenses. General Dynamics-manufactured weapons systems, munitions, and combat vehicles such as Abrams tanks have been essential to Ukraine's operations. UAW members at the company make highly profitable military vehicles, including tanks and light armored vehicles, according to the union. General Dynamics joined peer defense contractors Lockheed Martin (LMT.N) and RTX (RTX.N) to report better-than-expected quarterly results.

Persons: Ahmed Yosri, Abrams, Lockheed Martin, Pratyush Thakur, Krishna Chandra Organizations: General Dynamics, Defense, REUTERS, Dynamics, Pentagon, United Auto Workers, UAW, Gulfstream, Thomson Locations: Riyadh, Saudi Arabia, Reston , Virginia, Ukraine, Bengaluru

☆ Russia moved one of its satellites uncomfortably close to a French one, possibly to spy on it: report
▼ + stars: | 2023-10-25 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +3 min

Russia moved close to a satellite which some think is Eutelsat's 3B craft, analysts said. It follows a pattern of Russian behavior in space that has prompted security concerns. AdvertisementAdvertisementRussia moved one of its satellites uncomfortably close to France's Eutelsat 3B communications satellite, possibly to spy on it, according to reports. AdvertisementAdvertisementEutelsat's 3B satellite provides broadband, data, telecom, and video services across Europe, Africa, the Middle East, Central Asia, and South America. Luch-5-X/Olymp K-2 isn't close enough to crash into the unnamed commercial satellite.

Persons: —, Audrey Schaffer, TJ Kouri, Schaffer, it's, spacenews.com, Olymp, Michael Clont Organizations: Service, intel, Aerospace, Breaking Defense, Airbus, National Security Council, Analysts, Intelsat, Strategic International, Space Locations: Russia, Russian, France, Europe, Africa, East, Central Asia, South America, Eutelsat's, Ukraine

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

☆ Stocks making the biggest moves premarket: Spotify, RTX, Coca-Cola and more
▼ + stars: | 2023-10-24 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

General Motors — General Motors shares were up more than 1% in the premarket after the automaker posted third-quarter earnings and revenue that beat analyst expectations. Spotify — Shares shed 2.5% in early morning trading, despite Spotify's third-quarter earnings topping expectations. Coca-Cola — Coca-Cola reported adjusted third-quarter earnings of 74 cents per share on revenue of $11.91 billion. RTX — The aerospace and defense company soared 8.1% after reporting higher-than-expected earnings and revenue, compared to forecasts from LSEG. RTX posted earnings per share of $1.25 on quarterly revenue of $18.95 billion, while analysts expected earnings per share of $1.21 on $18.59 billion in revenue, according to LSEG.

Persons: LSEG, Piper Sandler, RTX, Morgan Stanley, CNBC's Hakyung Kim, Sarah Min Organizations: Motors — General Motors, GM, United Auto Workers, Spotify, Bank of America, MoffettNathanson, —, 3M, Beverage, Barclays — U.S, Investors

The company also approved a $10 billion share repurchase program that will be funded through short and long-term debt. But profit at RTX's Collins Aerospace unit, which deals with commercial aftermarket service, rose 22% to $903 million. RTX reported an overall third-quarter adjusted profit of $1.25 per share, beating Wall Street estimates of $1.21, according to LSEG data. The company now expects reported sales of $68.5 billion, up from about $67.5 billion, and adjusted sales of $74 billion, up from $73 billion. Adjusted earnings per share - previously projected to be $4.95 to $5.05 - are now expected to be between $4.98 and $5.02.

Persons: Benoit Tessier, Pratt, Whitney, RTX, Neil Mitchill, Pratyush Thakur, Mike Stone, Valerie Insinna, Krishna Chandra Eluri, Mark Potter Organizations: Raytheon Technologies Corporation, International Paris Air, Le, REUTERS, Collins Aerospace, Reuters, RTX, RTX's Collins Aerospace, Wall, Intelligence, Services, Raytheon, Thomson Locations: Le Bourget, Paris, France, Arlington , Virginia, Bengaluru, Washington

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