GE Vernova (GEV) jumps 13% on strong earnings. The gas power and energy company stock report strong earnings with revenue up 9% to $2.2 billion. Guidance was strong due to a $5 billion backlog. The company said they are using AI to improve their products and efficiency. GE Vernova repurchased 1.2 million shares during the quarter and has bought back 5.2 million shares year-to-date through June 30
Texas Instruments (TXN) takes a hit on earnings due to tariffs. The chip company is down 11% even as earnings beat estimates as sales rose 16.4% to $4.45 billion. Guidance was good, but not great as some of the business this quarter was front loaded ahead of tariffs. Investors are concerned business will take a hit later in the year as TI outsources their chip production and could get hit with tariffs. TI also does a lot of business in China which could get hurt if tariffs negotiations stall.
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