Top 5 Gainers Today

4. General Electric Company (NYSE:GE)

Number of Hedge Fund Holders: 51

Shares of General Electric Company (NYSE:GE) rose nearly five percent in the pre-market trading session today after the industrial giant crushed profit and sales expectations for the second quarter. The results were mainly driven by solid gains in its aerospace business.

General Electric Company (NYSE:GE) surprised investors by reporting an adjusted profit of 78 cents per share, against the consensus of 38 cents per share. Moreover, the revenue of $18.64 billion easily exceeded analysts’ average estimate of $17.6 billion.

Looking forward, General Electric Company (NYSE:GE) continues to expect adjusted earnings in the range of $2.80 – $3.50 per share for the full year. However, the company expects to report earnings close to the low end of the guidance amid supply-chain challenges and inflationary pressure.