From Dow Jones & Company:

General Electric Co. is undergoing a major restructuring, with its power and renewable energy business being spun off as GE Vernova and its remaining business being relaunched as GE Aerospace. GE’s stock has surged 95.1% in 2023, its best year on record, while the S&P 500 index has rallied 24.2%. Analysts predict more gains for investors as GE combines attractive businesses and high aftermarket mix. The 2023 achievement marks the culmination of a five-year turnaround engineered by current CEO Larry Culp, under whose leadership the stock nearly tripled, outperforming the S&P 500 by a wide margin.

GE’s stock suffered its worst year ever in 2018, plunging 56.6%, but things have turned around under CEO Larry Culp, who took the reins in October 2018. Since then, GE’s stock has climbed 181%, outperforming both the S&P 500 and the Dow.



Read more: GE’s stock has its best year on record ahead of final breakup