Procacci Riccardo sold $528K of GE

GE Aerospace plans a $225M investment in its Niskayuna Research Center, focusing on infrastructure upgrades and creating 75 jobs. The project is supported by $8.42M in tax credits and a sales-tax exemption. The center, employing over 800, is key to aerospace innovation and global competitiveness, according to the company.

GE Aerospace (GE) plans to invest $225M in its Niskayuna research center, focusing on AI, robotics, and aircraft propulsion. The upgrade includes $150M for the site and $75M for equipment, adding 75 jobs over five years. Shares rose 0.9% to $322.71 on Friday. State incentives total $13.7M, and the project supports federally backed aerospace research.

Poland's SGE, a developer of small modular reactors (SMRs), signed a memorandum with GE Vernova, Hitachi, and Samsung C&T to accelerate BWRX-300 SMR deployment in Europe. SGE plans to build 26 units in Poland and 14 in the UK, aiming to combine American technology, Japanese and Korean industrial strength, and European capabilities. SMRs offer scalable, low-carbon power solutions, gaining traction amid Europe's energy security concerns.

GE Aerospace (GE) is acquiring Consolidated Precision Products (CPP) for $11.75 billion to address supply-chain bottlenecks. CPP, a major supplier of precision castings, generates about $2 billion in revenue annually and is critical for GE's engine production. GE aims to increase CPP's output and improve efficiency, though the deal's high cost and potential impact on non-GE customers remain concerns.

Jefferies lowered its price target for GE Aerospace from $455 to $435 but maintained a buy rating. The stock, currently at $321.30, has seen a 0.65% increase today and a 4.29% rise over the past year.

GE Vernova signed a contract with Egyptian Electricity Holding Company to extend the life of five gas turbines at power plants, adding 13-15 years of operation. The deal covers 1,250 MW capacity and runs from 2028 to 2035. GE Vernova also has a separate deal for upgrades at Banha and Nubaria plants. The company supplies 60 turbines in Egypt, totaling 10 GW of capacity.