GE Vernova’s wind business faces a rocky future, and Southwest gives Boeing shares a lift
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets : Stocks are higher on Thursday, with the S & P 500 hitting a record high as the market increaes its rate-cut expectations. The yield on the benchmark 10-year Treasury note briefly dipped below 4% following a slightly warmer-than-expected August consumer price report and spike in jobless claims. As of roughly 2 p.m. ET, the yield stood at roughly 4.02%. GEV update : GE Vernova CEO Scott Strazik spoke at Morgan Stanley’s Laguna Conference on Thursday. Despite the stock selling off slightly early into the presentation, we found most of the commentary to be upbeat. One of the CEO’s key quotes: “Not only is the world going to need more energy, but the proportion of that energy that’s going to be coming from electrical power is going to grow.” That is, of course, good news for a company that makes turbines used in generating electricity. Strazik also highlighted the significant growth opportunities within gas power and electrification, the latter being the segment on which he sounded most optimistic in terms of share gains and growth opportunities. He also talked about forging a closer relationship with the hyperscalers spending billions of dollars building new data centers. But one aspect we were unsure of coming into the event was what Strazik would say about wind, the smallest of GE Vernova’s three business segments, given the Trump administration’s stance against wind projects. Strazik noted that onshore wind orders remain soft and projected revenue for this smaller segment of the business will decline 10% to 15% in 2026 compared with 2025 levels. That’s not great, but the update wasn’t entirely unexpected given the increasing negative sentiment toward wind and the stock’s drop to the high $500s last week. Boeing wins : Boeing’s presentation at the Laguna Conference starts at 2:30 p.m. ET, but the stock added a few dollars in the session after Southwest Airlines said it is increasing its Boeing delivery expectations for the year. We’ll look for more commentary around delivery and monthly production expectations when CEO Kelly Ortberg speaks at the conference. Also, toward the end of the day Wednesday, Boeing announced it reached a tentative deal with the striking workers at its defensive business. The strike began in early August in the St. Louis area and is much smaller in scope compared to the 2024 machinists strike. Still, progress toward a resolution is a positive. Up next: Adobe and RH report after the closing bell on Thursday. There are no major earning reports before the opening bell Friday. On the data side, we’ll see the University of Michigan’s consumer sentiment survey results and one-year inflation expectations. (See here for a full list of the stocks in Jim Cramer’s Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
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