Here's Why GE Aerospace Stock Recovered Today
GE Aerospace (NYSE: GE) stock rose more than 4% by 11 a.m. ET on Wednesday as investors took advantage of the post-earnings dip in the stock on Tuesday and bought in. Here's why.
The company's report contained some negatives, such as the expectation reduction for LEAP engines. A GE Aerospace joint venture with Safran manufactures the LEAP, the sole engine option on the Boeing 737 MAX and an option on the A320 neo family of airplanes.
A combination of supply challenges and delays in airplane deliveries means GE now expects LEAP engine deliveries to decline by 10% in 2024, compared to 2023. For reference, management started the year expecting a 20%- 25% increase in LEAP deliveries.
Source Fool.com
