Howmet, GE Vernova and Siemens shares fall on Musk solar plan

AI data centers face power shortages, with Anthropic estimating future models may need gigawatts of electricity. GE Vernova (GEV) is benefiting from surging demand for its gas turbines, with orders jumping fourfold in Q2. The company's backlog reached $176 billion, and it's involved in projects like Texas's Project Kilby for Microsoft's AI data center.

Anthropic highlights electricity as a major constraint for AI data centers, with the U.S. AI sector potentially requiring 50 GW by 2028. GE Vernova (GEV) is positioned to benefit, offering power solutions like gas turbines. GEV's orders surged in Q2, with a $176B backlog. It's involved in Project Kilby, a power facility for Microsoft's AI data center.

Howmet Aerospace (HWM) shares fell after SpaceX announced plans to produce some gas-turbine components internally. Citi maintained a Buy rating, citing strong demand in the industrial gas-turbine market. Bernstein raised its price target to $328. Analysts see potential long-term support from AI data center power needs.

Howmet Aerospace Inc. (NYSE:HWM) shares rose 3.3% after analysts called recent weakness a buying opportunity. Bernstein SocGen's Douglas Harned maintained an Outperform rating and $328 price target, noting SpaceX's plans to build turbine parts won't threaten Howmet's market position. Citi's John Godyn reiterated a Buy rating and $329 target, adding a 30-Day Upside catalyst watch.

GoPro (GPRO) +72.3% after Markiplier disclosed 8.5% stake; unusual options activity. Novartis (NVS) +6.5% on positive MS drug trial results. Comstock (CRK) +6% on $1.65B partnership and $450M drilling JV. Howmet (HWM) +3.9% after yesterday's selloff.

Howmet Aerospace (HWM) fell 8% after SpaceX announced plans to produce its own industrial gas turbine castings. Citigroup and Bernstein reiterated buy ratings, citing Howmet's market dominance and long-term agreements, with price targets of $329 and $328 respectively, implying ~34% upside. Howmet is down 13% in a month but up 19.5% YTD and 41% over the past year.