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Wire

Update: GE Vernova Shares Rise After Higher Q1 Earnings, Revenue

(Updates with the latest stock movement in the headline and the first paragraph.)GE Vernova (GEV) shares rose 12.2% on Wednesday after the company reported higher Q1 earnings and revenue, and raised its 2026 revenue forecast.The company reported Q1 earnings of $17.44 per share, up from $0.91 a year earlier.Total revenue for the quarter ended March 31 was $9.34 billion, up from $8.03 billion a year earlier.Analysts polled by FactSet expected $9.25 billion.The company also said it now expects 2026 revenue of about $44.5 billion to $45.5 billion, compared with the previous outlook of $44 billion to $45 billion. Analysts surveyed by FactSet expect $44.66 billion.Price: $1113.50, Change: $+122.20, Percent Change: +12.33%

$GEV
Wire

Baird Raises GE Vernova Price Target to $1,400 From $1,008

GE Vernova (GEV) has an average rating of overweight and mean price target of $964.73, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $1109.28, Change: $+117.98, Percent Change: +11.90%

$GEV
Sectors

Sector Update: Energy Stocks Rise Wednesday Afternoon

Energy stocks were higher Wednesday afternoon, with the NYSE Energy Sector Index rising 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1%.The Philadelphia Oil Service Sector Index was climbing 1.3%, and the Dow Jones US Utilities Index was up 0.2%.Crude prices rose Wednesday as Iran said it seized two container ships in the Strait of Hormuz, indicating heightened tensions even as President Donald Trump extended a ceasefire with Tehran. Iran's Islamic Revolutionary Guard Corps on Wednesday reportedly announced the seizure of two tankers attempting to cross the Strait of Hormuz, a key oil chokepoint. Trump extended a two-week ceasefire deal with Tehran late Tuesday, though he said the naval blockade of Iranian ports would continue.Front-month West Texas Intermediate crude oil was rising 3.9% to $93.12 a barrel, and the global benchmark Brent crude contract was advancing 3.5% to $101.88 a barrel. Henry Hub natural gas futures rose 1.1% to $2.73 per 1 million BTU.In sector news, US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 2.2 million barrels in the week ended April 17 following a decrease of 5.1 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks rose by 1.9 million barrels after a 900,000-barrel decline in the previous week, compared with the 2-million-barrel decrease expected in a survey compiled by Bloomberg.In corporate news, GE Vernova (GEV) shares jumped past 12% after it reported Wednesday a year-over-year jump in Q1 earnings and revenue, and raised its annual revenue forecast.Exxon Mobil (XOM) is considering a sale of its Esso-branded gas station network in Hong Kong, with the assets valued at about $500 million to $600 million, Bloomberg reported. Exxon shares added 0.4%.The US Supreme Court on Wednesday rejected Enbridge's (ENB) motion to move a lawsuit seeking to halt the company's operation of the Line 5 pipeline from Michigan state court to federal court. Enbridge shares were down 0.3%.

$ENB$GEV$XOM
Wire

Top Midday Gainers

Axe Compute (AGPU) said Wednesday it has received a $260 million enterprise infrastructure contract to deploy 2,304 Nvidia (NVDA) B300 graphics processing units and storage infrastructure in a US tier 3 data center.Shares surged 88% as intraday trading volume soared to over 74.8 million from a daily average of about 1.92 million.GE Vernova (GEV) reported on Wednesday a year-over-year jump in Q1 earnings and revenue, and raised its annual revenue forecast.Shares advanced 13%, with intraday trading volume rising to over 3.12 million from a daily average of roughly 2.64 million.Toro (TORO) declared a special dividend of $0.90 a share, payable June 5 to stockholders of record on May 4.Shares soared 84% to $7.31 after midday, with intraday trading volume climbing to over 14.7 million from a daily average of about 55,000.Price: $9.02, Change: $+4.14, Percent Change: +84.73%

$AGPU$GEV$TORO
Asia Markets

US Equity Indexes Rise With Crude Oil After Trump Extends Iran Ceasefire

US equity indexes rose after midday Wednesday, with the Nasdaq Composite touching an all-time high, and crude oil futures also advanced after President Donald Trump extended a ceasefire with Iran.The Nasdaq Composite jumped 1.3% to 24,583.3, the S&P 500 was up 0.8% at 7,123.5, and the Dow Jones Industrial Average was 0.6% higher at 49,453.7. All sectors except real estate, industrials, and financials rose. Technology, energy, and communication services led the gainers.The ceasefire extension will last for only three to five days, Fox News reported Wednesday, citing a White House official. The US blockade of the Middle East nation's ports remains in force.Iran has made lifting the blockade on its ports a key demand for resuming Pakistan-brokered negotiations to end the war and for allowing marine traffic to transit through the Strait of Hormuz, the chokepoint for 20% of global crude oil flows.Meanwhile, Iran's Revolutionary Guard Corps seized two ships in the Strait of Hormuz, CNN reported, citing the IRGC. A third vessel was also reportedly targeted by the IRGC and is "now disabled off Iran's coast," CNN cited Iranian media.West Texas Intermediate crude oil futures jumped 4.4% to $93.65, and Brent crude futures advanced 3.8% to $102.22.In company news, GE Vernova (GEV) posted higher Q1 earnings and revenue, and raised its annual revenue forecast range. Shares rose 13%, the biggest gainer on the S&P 500.Boeing's (BA) Q1 loss unexpectedly narrowed as commercial aircraft deliveries rose, while the plane maker reported a smaller cash burn year over year. Shares advanced 5.3%, the Dow's top gainer.Booking Holdings (BKNG) is under investigation for allegedly using deceptive marketing tactics to promote its premium accommodation programs, the Italian Competition Authority said Wednesday. Shares slumped 4.9%, the steepest decline on the Nasdaq.Tesla's (TSLA) Q1 results are due after the bell. The electric vehicle manufacturer could see penetration of its Full Self-Driving supervised system rise to more than 50%, which would change its financial model, Wedbush Securities said in a Tuesday note.US Treasury yields were mixed, with the 10-year steady at 4.29% and the two-year up 1.9 basis points to 3.8%.In precious metals, gold futures rose 0.6% to $4,749.1, and silver futures advanced 1.9% to $77.91.

Dow JonesNasdaq CompositeS&P 500$BA$BKNG$GEV$TSLA
Wire

Top Midday Stories: GE Vernova Shares Gain on Strong Q1 Earnings, Guidance; Vertiv Lifts Guidance After Q1 EPS, Revenue Beats, Shares Fall

All three major US stock indexes were up in late-morning trading Wednesday following reports of Iranian attacks on vessels in the Strait of Hormuz and President Donald Trump's extension of the ceasefire between the warring nations.In company news, GE Vernova (GEV) reported Q1 earnings Wednesday of $17.44 per share, up from $0.91 a year earlier. Total Q1 revenue was $9.34 billion, up from $8.03 billion a year ago and above the FactSet consensus analyst estimate of $9.25 billion. For 2026, the company said it expects revenue of about $44.5 billion to $45.5 billion, up from its previous outlook of $44 billion to $45 billion and compared to the FactSet consensus of $44.66 billion. GE Vernova shares were up 12.4% around midday.Vertiv (VRT) reported Q1 adjusted earnings Wednesday of $1.17 per diluted share, up from $0.64 a year earlier and above the FactSet consensus of $1.00. First-quarter revenue was $2.65 billion, up from $2.04 billion a year ago and above the FactSet consensus of $2.64 billion. For Q2, the company said it expects adjusted EPS of $1.37 to $1.43 on revenue of $3.25 billion to $3.45 billion. Analysts polled by FactSet expect $1.43 and $3.40 billion, respectively. For full-year 2026, Vertiv said it expects adjusted EPS of $6.30 to $6.40, up from its previous outlook of $5.97 to $6.07 and above the FactSet consensus of $6.12. Vertiv expects full-year revenue to be $13.50 billion to $14.00 billion, up from its previous guidance of $13.25 billion to $13.75 billion and compared to the FactSet consensus of $13.63 billion. Vertiv shares were down 2.6%.Merck (MRK), Germany's Merck KGaA and Japan's Ono Pharmaceutical have expressed interest in Inhibrx Biosciences' (INBX) experimental cancer medicine that could be valued at over $8 billion, Reuters reported Wednesday, citing people familiar with the matter. Merck shares were down 0.2%, while Inhibrx shares were up 31.9%.Boeing (BA) reported a Q1 core loss Wednesday of $0.20 per share, narrowing from a loss of $0.49 a year earlier and compared to the FactSet consensus estimate of a loss of $0.68. First-quarter revenue was $22.22 billion, up from $19.50 billion a year ago and above the FactSet consensus of $21.85 billion. Cash outflow for the quarter was $1.45 billion, narrowing from $2.29 billion a year ago, and the company said Q1 deliveries increased 10% to 143 planes. Boeing shares were up 5.4%.Alphabet's (GOOG, GOOGL) Google Cloud is launching a $750 million fund to help consulting firms like Accenture (ACN), McKinsey and Deloitte get their clients to use agentic AI software, Bloomberg reported Wednesday, citing an emailed statement and an interview with a company official. Alphabet's Class C and Class A shares were up 1.5% and 1.6%, respectively. Accenture shares were down 1.9%.Philip Morris International (PM) reported Q1 adjusted earnings Wednesday of $1.96 per diluted share, up from $1.69 a year earlier and above the FactSet consensus of $1.83. Net Q1 revenue was $10.15 billion, up from $9.30 billion ay ear ago and above the FactSet consensus of $9.91 billion. For Q2, Philip Morris said it expects adjusted EPS of $2.02 to $2.07, below the FactSet consensus of $2.12. For full-year 2026, the company said it expects adjusted EPS of $8.36 to $8.51, compared to the FactSet consensus of $8.38. Philip Morris shares were up 7%.Boston Scientific (BSX) reported Q1 adjusted earnings Wednesday of $0.80 per share, up from $0.75 a year earlier and above the FactSet consensus of $0.79. First-quarter net sales were $5.20 billion, up from $4.66 billion a year ago and above the FactSet consensus of $5.17 billion. For Q2, Boston Scientific said it expects adjusted EPS of $0.82 to $0.84 and net sales growth of 5.5% to 7.5%. Analysts polled by FactSet expect adjusted EPS of $0.86. For full-year 2026, the company said it expects adjusted EPS of $3.34 to $3.41, down from its prior outlook of $3.43 to $3.49 and below the FactSet consensus of $3.45. Full-year net sales are now expected to grow about 7.0% to 8.5%, down from the company's previous guidance of 10.5% to 11.5% growth. Shares of the company were up 8.4%.AT&T (T) reported Q1 earnings Wednesday of $0.54 per diluted share, down from $0.61 a year earlier and below the FactSet consensus of $0.55. First-quarter operating revenue was $31.51 billion, up from $30.63 billion a year ago and above the FactSet consensus of $31.25 billion. AT&T shares were down 1.8%.Price: $1119.35, Change: $+128.05, Percent Change: +12.92%

$ACN$BSX$GEV$INBX$MRK$PM$T$VRT
Asia Markets

US Equity Futures Rise Pre-Bell After Trump Extends US-Iran Ceasefire

US equity futures were rising pre-bell Wednesday after President Donald Trump extended the ceasefire with Iran while maintaining the US blockade of Iranian ports.Dow Jones Industrial Average futures were 0.7% higher, S&P 500 futures were up 0.6%, and Nasdaq futures were 0.9% higher.Trump said that Iran's government is "seriously fractured" and that he is extending the ceasefire "until such time as their leaders and representatives can come up with a unified proposal," according to his post on Truth Social.Amir-Saeid Iravani, Iran's permanent representative to the UN, said that Iran is ready to restart peace talks once the US lifts its naval blockade, Iranian state news outlet Tasnim reported early Wednesday, citing media outlet Rudaw.Traders digested the latest round of earnings, with Philip Morris International (PM) and Vertiv (VRT) reporting higher Q1 adjusted earnings and revenue. GE Vernova (GEV) posted higher Q1 earnings and revenue, while AT&T (T) reported lower Q1 earnings amid higher operating revenue. Tesla (TSLA) and IBM (IBM) are set to report their results after-market.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.5% at $99.93 per barrel and US West Texas Intermediate crude 1.5% higher at $91.01 per barrel.The Atlanta Fed Business Inflation Expectations survey for April is scheduled for release at 10 am ET.In other world markets, Japan's Nikkei closed 0.4% higher, Hong Kong's Hang Seng ended 1.2% lower, and China's Shanghai Composite finished 0.5% higher. Meanwhile, the UK's FTSE 100 was up 0.1%, and Germany's DAX index was 0.1% lower in Europe's early afternoon session.In equities, shares of Philip Morris and GE Vernova were up 3.3% and 7.%, respectively, after the companies posted their Q1 financial results. Adobe (ADBE) stock was 3% higher after the company said its board approved a new share buyback authorization, allowing the company to repurchase up to $25 billion in shares through April 30, 2030. The digital media software firm also expanded its partnership with Omnicom Group (OMC) to co-develop an enterprise-grade, industry-specialized AI agentic operating model solution, according to Omnicom.On the losing side, Vertiv shares were down 1.1% despite its Q1 adjusted earnings and revenue surpassing analyst expectations. AT&T stock was down 2% after its Q1 earnings release.

Dow JonesNasdaq CompositeS&P 500$ADBE$GEV$IBM$OMC$PM$T$TSLA$VRT
Research

Research Alert: Ge Vernova Prints Q1 Beat, Orders Surge Broadly

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:GE Vernova's (GEV) Q1 results significantly exceeded expectations, with order intake surging 71% organically to $18.3B, supported by accelerating demand for power generation and grid modernization equipment. Adjusted EBITDA margin expanded 390 bps to 9.6%, with Power segment margins reaching 16.3% (+470 bps) and Electrification achieving 17.8% (+670 bps), reflecting favorable pricing dynamics and operational leverage. Q1's performance aligns with our Buy recommendation, as GEV demonstrates its positioning as a primary beneficiary of unprecedented data center infrastructure investment. Free cash flow generation was exceptional at $4.8B, more than quadrupling Y/Y and exceeding the company's full-year 2025 performance in a single quarter. We attribute this strong performance to superior adjusted EBITDA and positive working capital dynamics, while GEV maintained financial flexibility with $10.2B in cash and returned $1.4B to shareholders during the quarter.

$GEV
US Markets

Stocks Rise Pre-Bell as Trump Extends Iran Ceasefire; Tesla Earnings On Deck

The main US stock measures were trending higher in Wednesday's premarket activity after President Donald Trump extended the two-week US ceasefire with Iran, while traders await the latest round of corporate earnings, including results from Tesla (TSLA).The S&P 500 rose 0.6%, the Dow Jones Industrial Average increased 0.5% and the Nasdaq added 0.7% before the opening bell. The indexes finished Tuesday trading lower for the second consecutive session.In a social media post on Tuesday, Trump announced the extension of the two-week US ceasefire deal with Iran, citing a request by Pakistan's Prime Minister Shehbaz Sharif and Field Marshal Asim Munir. The truce was announced on April 7. The naval blockade of Iranian ports will continue, according to Trump."We have been asked to hold our attack on the country of Iran until such time as their leaders and representatives can come up with a unified proposal," Trump said in the post. "I have therefore directed our military to continue the blockade and, in all other respects, remain ready and able, and will therefore extend the ceasefire until such time as their proposal is submitted, and discussions are concluded, one way or the other."Iranian state news outlet Tasnim reported that negotiators from Tehran won't participate in further peace talks with their US counterparts, according to CNBC. US Vice President JD Vance's expected trip to Islamabad for peace talks with Iran has been called off, CNN reported, citing a White House official.West Texas Intermediate crude oil inclined 1.3% to $90.83 a barrel in premarket action, while Brent rose 1.1% to $99.56.The Trump administration is evaluating a potential extension of a maritime shipping waiver to make it easier to move oil and gasoline between US ports, Bloomberg News reported Wednesday, citing people familiar with the matter.Electric vehicle giant Tesla is scheduled to release its latest quarterly results after the markets close, along with International Business Machines (IBM) and Texas Instruments (TXN). GE Vernova (GEV), Philip Morris International (PM), AT&T (T), Boeing (BA), Boston Scientific (BSX) and Elevance Health (ELV) post earnings before the bell, among others.Intuitive Surgical (ISRG) shares advanced 2% pre-bell as the company lifted the full-year procedure growth outlook of its da Vinci robotic surgery system and reported better-than-expected first-quarter results. Advanced Micro Devices (AMD) gained 2%.Kevin Warsh said Tuesday that the Federal Reserve, under his leadership, would be independent from the White House, CNBC reported. Warsh, who is Trump's Fed chair nominee, made the remarks at his Senate Banking Committee confirmation hearing.Treasury yields were moving down before the open, with the two-year rate retreating 0.8 basis points to 3.77% and the 10-year rate off 1 basis point to 4.28%.Official data on Tuesday showed that retail sales last month logged the largest rise since March 2025 amid a surge in spending at gasoline stations as the Middle East conflict boosted energy prices.Wednesday's economic calendar has the weekly mortgage applications bulletin at 7 am ET, followed by the weekly EIA domestic petroleum inventories report at 10:30 am.Gold rose 1.1% to $4,769 per troy ounce, while bitcoin climbed 3.9% to $78,172.

Dow JonesNasdaq CompositeS&P 500$AMD$BA$BSX$ELV$GEV$IBM$ISRG$PM$T$TSLA$TXN
Asia Markets

US Equity Investors to Focus on Geopolitical Risk While Earnings Season Gathers Momentum

US equity investors will focus on mounting geopolitical risk in the Middle East while keeping an eye on Q1 earnings and retail sales.* Iran vowed retaliation after the US Navy seized an Iranian cargo ship in the Gulf of Oman, endangering the planned second round of negotiations in Pakistan this week to find a lasting solution for peace for Tehran, according to multiple media reports.* US Vice President JD Vance and top US officials were expected to travel to Islamabad, but Iran's foreign ministry insisted there were no plans for talks, CNN reported. The ceasefire, which the US and Iran have accused each other of violating, expires on Wednesday.* After scaling fresh records on Friday amid optimism that an Iran peace deal could materialize without extending the two-week ceasefire, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average futures slumped early on Monday amid concerns of an escalation of the war in the Middle East.* West Texas Intermediate crude oil futures soared 7.2% to $89.92, and Brent crude futures jumped 6.3% to $96.10 pre-bell. Reflecting the potential impact of elevated crude oil prices on inflation, gold futures dropped 1.5% to $4,808.8, and silver futures slumped 3% to $79.37 early Monday. Similarly, most US Treasury yields rose, with the 10-year up 2.2 basis points to 4.27% and the two-year jumped 3.5 basis points to 3.74%.* The highlight of quarterly earnings this week will be Tesla (TSLA) as well as some technology names such as Intel (INTC), IBM (IBM), Lam Research (LRCX), Texas Instruments (TXN), and SAP (SAP). Other mega-caps expected to report this week include American Express (AXP), GE Vernova (GEV), Boeing (BA), and United Health (UNH).* In US macroeconomic data, investors will focus on retail sales, S&P Global manufacturing and services PMIs, ADP employment change, initial jobless claims, and the final read on Michigan consumer sentiment alongside Michigan inflation expectations for one and five years ahead.

Dow JonesNasdaq CompositeS&P 500$AXP$BA$GEV$IBM$INTC$LRCX$SAP$TXN$UNH
Commodities

Blast at Coal-Fired Power Plant in India, Operated by GE Vernova/NTPC JV Kills at Least 10

A high-pressure steam line failure at Vedanta's Athena coal-fired power plant in Singhitarai, Chhattisgarh, India, resulted in at least 10 fatalities on April 14, according to a BSE filing by Vedanta Limited on Tuesday.At the time of the blast, the facility was being operated and maintained by NGSL or NTPC GE Power Services Private Limited, a joint venture between NYSE-listed GE Vernova (GEV) and NTPC.While Vedanta's initial stock exchange disclosure reported 10 fatalities and 24 affected personnel, District Collector Amrit Vikas Topno reportedly updated the count on Wednesday to 17 deaths, as several critically injured workers succumbed to severe burns.The incident, involving personnel from sub-contractor NGSL, has triggered a high-level investigation into maintenance protocols at the recently commissioned 600-megawatt unit.The company identified the cause as a failure in a high-pressure steam tube that connects the boiler to the turbine.According to the filing, the accident occurred at about 2:30 PM on Tuesday at the Unit-1 boiler.The 1,200 MW Athena project is a critical asset for Vedanta, which acquired the stalled plant in 2022. Unit-1 began commercial operations in late 2025.The incident comes as India delays maintenance on 10 gigawatts of coal capacity to meet soaring summer demand, raising urgent questions about industrial safety.Price: $987.41, Change: $-0.10, Percent Change: -0.01%

$GEV
Wire

GE Verona, Parker-Hannifin Poised to Benefit From Improving Industrial Demand, BofA Says

GE Vernova (GEV), Parker-Hannifin (PH), and Ametek (AME) are among companies expected to benefit from improving short-cycle industrial demand as order trends strengthen and defense-related exposure provides an additional boost, BofA Securities said Monday in a report.BofA expects GE Vernova's orders to rise 44% this year, supported by data-center demand and potential upside from the US-Japan trade deal's Ohio power-generation project. Defense revenue accounts for 11% of Parker-Hannifin's sales and 10% at both Ametek and ITT (ITT), the report said.3M (MMM) and Forgent Power Solutions (FPS) have lagged behind the S&P 500's recent 1% decline, while Vertiv (VRT), GE Vernova, and Fastenal (FAST) have outperformed, the report said.Companies tied more closely to consumer spending may face greater pressure, while industrial component suppliers are likely to see the strongest improvement in revenue growth as orders picked up in Q4, the report said. Supply-chain disruptions tied to the Middle East conflict may affect Q2 shipment timing, BofA said.Price: $990.82, Change: $-0.50, Percent Change: -0.05%

$AME$FAST$FPS$GEV$ITT$MMM$PH$VRT

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