Welcome to our dedicated page for GE Aerospace news (Ticker: GE), a resource for investors and traders seeking the latest updates and insights on GE Aerospace stock.
GE Aerospace, a segment of General Electric Company (NYSE: GE), is a global leader in the design, manufacture, and service of aircraft engines. Founded in 1892 and headquartered in Boston, GE has a rich history tied to American inventor Thomas Edison. While GE operates in multiple industries including power, renewable energy, digital industry, and additive manufacturing, GE Aerospace remains its core business.
With nearly 70,000 commercial and military engines installed worldwide, GE Aerospace generates significant revenue from the recurring service and maintenance of these engines. The company's partnership with Safran in their CFM joint venture further solidifies its leadership in aerospace propulsion.
Recent achievements for GE Aerospace include significant deals and technological advancements. Notably, GE Aerospace retained its portfolio of intellectual property related to aerospace and defense technologies after a definitive agreement with Dolby Laboratories to acquire GE Licensing. This acquisition, valued at $429 million and expected to close by the end of fiscal year 2024, highlights GE Aerospace's focus on its core aerospace and defense markets.
In another major development, GE Vernova's Onshore Wind business, a part of GE's power and renewable energy segment, announced a landmark deal with Pattern Energy. This deal involves the supply of 674 wind turbines for the SunZia Wind project, set to be the largest wind project in the Western Hemisphere. This project is a testament to GE's commitment to renewable energy and showcases its ability to deliver large-scale, high-efficiency projects.
Moreover, GE Aerospace continues to innovate with products like the 3.6-154 wind turbine, which incorporates advanced AI-trained blade manufacturing processes. This turbine is built to meet U.S. market needs and is part of GE's strategy to drive quality and reliability across its fleet.
Financially, GE Aerospace is robust, leveraging its longstanding expertise and extensive global network to maintain a strong market position. The company's continuous investments in technology, such as the new manufacturing assembly line for its Onshore Wind business in Schenectady, New York, reflect its commitment to enhancing American manufacturing and supporting climate change goals.
GE Aerospace's mission to define the future of flight and bring innovative solutions to the aerospace and defense sectors is backed by its substantial workforce of 52,000 employees globally. The company's operations aim to provide affordable, reliable, sustainable, and secure energy solutions, reinforcing its leadership in the industry.
Hyliion Holdings Corp. (NYSE: HYLN) reported its Q3 2022 financial results, generating $0.5 million in revenue and maintaining a cash position of over $455 million. The company closed the acquisition of the KARNO generator from GE Additive, enhancing its hydrogen-fuel capabilities. Hyliion announced its Founders Program for the first 200 Hypertruck ERX units and confirmed the trucks qualify for a 30% tax credit under the Inflation Reduction Act. The updated revenue guidance for 2022 is approximately $2 million, with operating expenses projected at $130 million.
GE (NYSE: GE) has announced a tender offer to purchase up to $7 billion in outstanding securities, part of its strategy to reduce debt as it moves towards creating three standalone companies, including GE HealthCare. The tender offer is set to expire on December 7, 2022, with an early participation date on November 22, 2022. Holders of the securities can receive total consideration that includes accrued interest. GE intends to use proceeds from new debt securities for debt repayment, supporting its leverage reduction efforts.
GE Healthcare’s DaTscan has received FDA approval for the diagnosis of Dementia with Lewy Bodies (DLB), expanding its established use in evaluating Parkinsonian syndromes. This marks a significant advancement, as DLB is often misdiagnosed, with up to 70% of cases mistaken for Alzheimer’s Disease. The expanded use of DaTscan aims to enhance diagnostic accuracy for one in five dementia patients suffering from DLB, potentially leading to better treatment paths. Over one million DaTscan doses have been administered globally, underscoring its market leadership in radiopharmaceutical diagnostics.
GE’s Grid Solutions and Power Conversion businesses have been contracted by Baker Hughes to provide high-voltage equipment and an energy management system for Venture Global’s Plaquemines LNG export facility in Louisiana. This project aims to enhance the efficiency and reliability of the liquefaction process, following a prior collaboration on the Calcasieu Pass project. GE will supply critical components including 145 kV gas-insulated switchgear, integrated protection systems, and high-voltage transformers, bolstering the company’s role in the energy transition.
Current Chemicals has launched market-ready miniLED LCD displays utilizing phosphor film at the Phosphors & Quantum Dots Industry Forum in San Francisco. These displays feature high contrast and a wide color gamut for an enhanced viewing experience. The displays incorporate Current's patented TriGain® KSF/PFS red phosphor and newly developed JADEluxe™ narrow-band green phosphor. This innovation aims to impact both current and future display technologies. The event takes place from October 26-27, 2022.
GE Healthcare and Accuray Incorporated (NASDAQ: ARAY) have signed a global commercial collaboration agreement aimed at enhancing personalized cancer treatment. The partnership will merge GE's advanced diagnostic tools with Accuray's radiation therapy technologies to improve patient care throughout the cancer journey, focusing initially on lung and brain cancers. This collaboration promotes early detection and precise treatment delivery, while also emphasizing digitalization and interoperability in healthcare systems. The companies aim to increase access to effective radiation therapy for cancer patients globally.
GE Healthcare leads the US FDA's updated list of AI-enabled medical devices with 42 authorizations, reflecting the company's robust AI strategy aimed at enhancing healthcare efficiency, outcomes, and interoperability. The company utilizes its Edison Health Services platform to integrate data from diverse sources, supporting clinical applications. Innovations like Air Recon DL and Critical Care Suite 2.0 exemplify GE's commitment to improving patient care through AI-driven solutions. With $17.7 billion in revenue and a global workforce of around 48,000, GE Healthcare aims to revolutionize healthcare services through data-driven technology.
GE Healthcare and AMC Health have announced a partnership to enhance Remote Patient Monitoring (RPM) capabilities. This collaboration extends patient care from hospitals to home environments, utilizing GE's acute monitoring technology and AMC's FDA-cleared RPM solutions. With over 133 million Americans living with chronic diseases, this initiative aims to reduce hospital admissions by allowing real-time monitoring and analytics for better patient management. The RPM solutions will integrate with GE's existing healthcare platforms, aiming to deliver comprehensive care beyond hospital walls.
GE Healthcare has partnered with Tribun Health to enhance digital pathology solutions for oncology. This collaboration will integrate Tribun's Health Suite into GE's products, notably improving data management through the vendor neutral archive (VNA) and Edison Datalogue. The goal is to streamline the oncology care pathway, facilitating prompt and accurate pathology reporting via AI technology. As global oncology cases rise, this partnership addresses the pressing need for efficient data-driven healthcare solutions.
GE Digital has unveiled FlightPulse® for Business Jets at the NBAA-BACE, an advanced Electronic Flight Bag application aimed at enhancing operational safety for pilots. Developed in collaboration with Gulfstream Aerospace, this software provides critical flight data, enabling informed decision-making. Features include pre- and post-flight analytics tools designed for user-friendliness. FlightPulse integrates with GE's existing safety programs, boosting data access for more than 350 corporate flight departments. The product showcases GE Digital's commitment to improving aviation safety and efficiency.
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