Despite lowering his headline and free cash flow estimates for General Electric following the company's 2019, Barclays analyst Julian Mitchell still thinks $6.5B-$7.0B of Industrial free cash flow looks attainable for 2021. However, GE's equity value is likely to remain volatile given the range of expectations, Mitchell tells investors in a research note titled "FCF outlook battered but largely intact; Divestments cover Capital risk." The analyst hopes that the evaluation of "all options" to de-risk GE Capital leads to more meaningful outcomes than the stated effort to "leverage EFS capabilities to enable Industrial orders." He keeps an Overweight rating on shares of General Electric with an unchanged price target of $13.

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Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here

Unusual total active option classes on open include: ImmunityBio (IBRX), Halliburton (HAL), Redfin (RDFN), Nokia (NOK), Matterport (MTTR), General Motors (GM), UPS (UPS), Philip Morris (PM), PepsiCo (PEP), and General Electric (GE).

Check out this morning's top movers from around Wall Street, compiled by The Fly. UP AFTER EARNINGS... To see the rest of the story go to thefly.com. See Story Here

Expects FY24 margins up about 50 bps vs. flat previously. Says "encouraged" by strong start to year.

Says all segments contributed to growth in Q1. Says "great confidence" in forward trajectory. Says demand "remained resilient" in Q1. Says can track about 80% of delivery challenges to 15 suppliers. Comments taken from Q1 earnings conference call.

Sees FY24 revenue growth LDD+, consensus $36.43B. Sees FY24 free cash flow greater than $5B, greater than 100% conversion. Commercial Engines & Services: Continue to expect revenue growth of mid-to-high teens and increasing operating profit to a range of $6.1 to $6.4 billion, up from our original guidance of $6.0 to $6.3 billion. Defense & Propulsion Technologies: Continue to expect revenue growth of mid-single-digits to high-single-digits and operating profit of $1.0 to $1.3 billion. Corporate: Continue to expect cost of approximately $1 billion, including $600 million of expense and $400 million of eliminations.

Reports Q1 revenue $16.1B, consensus $15.34B. GE Aerospace Chairman and CEO H. Lawrence Culp, Jr. said, "We marked a new beginning in early April with the successful spin-off of GE Vernova and launch of GE Aerospace, completing our multi-year transformation. Our teams achieved this milestone while delivering strong results in the first quarter led by significant profit and cash growth at GE Aerospace." Culp continued, "At GE Aerospace, Commercial Engines & Services and Defense & Propulsion Technologies drove double-digit revenue, profit and free cash flow growth in the quarter. Given our solid start to the year and outlook for the remainder of 2024, we are raising our full-year profit and free cash flow guidance. Moving forward as a focused global aerospace leader, we will continue to prioritize safety, quality, delivery, and cost - always in that order - while also investing in our future and driving long term profitable growth."