Procacci Riccardo sold $528K of GE

The Democratic Party won control of the U.S. Senate and House in the midterms, leading to a sharp sell-off in tech stocks. The Nasdaq dropped 5.5% on AI regulation fears, with Nvidia and Micron among the hardest hit. Investors are concerned about tighter data center rules under Democratic control.

GE Vernova agreed to acquire Trench Group, a high-voltage grid equipment provider, for $9B. The deal aims to expand GE Vernova's electrification businesses, with synergies expected from complementary products and global footprint. The acquisition, expected to close in late 2027, will be funded equally with cash and debt. Trench Group's new U.S. facility in Charlotte will begin manufacturing 765kV equipment in late 2027.

GE Aerospace received orders for eight LM2500 engines to power two US Navy Arleigh Burke-class destroyers, USS Ray Mabus and USS Robert R. Ingram. The engines will serve as the primary propulsion system. As of April 2026, 75 destroyers in service use GE's LM2500 engines, with demand projected through 2056. The US Navy has taken delivery of over 700 LM2500 gas turbines, which have a 99 percent reliability rate according to GE Aerospace.

GE Vernova T&D India received a letter of award from Power Grid Corporation of India for a 6,000 MW HVDC project, as previously disclosed. The project involves designing and establishing a terminal station for renewable power evacuation. The definitive agreement will be executed later, according to the company.

GE Vernova T&D India received a Letter of Award from Power Grid Corporation for a 6000 MW renewable energy transmission project in India. The project involves a ±800 kV HVDC terminal station, connecting Barmer II to South Kalamb. This marks a significant milestone for GE Vernova, highlighting its role in renewable energy infrastructure.

GE Aerospace received orders for eight marine gas turbines to power two U.S. Navy Arleigh Burke-class guided-missile destroyers, USS Ray Mabus (DDG 147) and USS Robert R. Ingram (DDG 149), part of the Flight III program. Each ship will use four LM2500 gas turbines, which have powered every active Arleigh Burke-class destroyer. The order was announced on November 2, 2026, but the value and delivery schedule were not disclosed.