The stock is down $25.82 (-7.39%) at $323.62.
First up, from The Fly (who seems to have put the crazy guy schtick aside), November 12:
GE Vernova (GEV) CEO Scott Strazik says he wants to wait market conditions to improve before searching for new offshore turbine orders, The Financial Times’ Rachel Millard reports. The re-election of Donald Trump has added uncertainty to the sector after his pledge to stop the offshore wind industry in the U.S. on “day one” of his presidency, and he has also said he will halt tax credits for green energy under the Inflation Reduction Act, but GE Vernova’s approach to focus on existing offshore turbine projects, which includes supplying the U.K.’s Dogger Bank Wind Farm in the North Sea, predates the election and is not connected to Trump’s victory, the report notes. Strazik hopes over the next two years “the market will create economic incentives and opportunities for us to do business that (are) drastically different economic terms than the economics we’re executing on today.”
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And from Martha's Vineyard radio, MVYRadio - 88.7 FM:
Canada station reports “falsification scheme” at turbine plant
Updated, Nov. 12
A radio station in Quebec is reporting that top executives at a manufacturing plant in Canada — where turbine blades have been manufactured for Vineyard Wind — ordered workers to falsify data, which offers new insight into what may have gone wrong earlier this summer when a blade fractured off the Vineyard’s coast.
Radio Gaspesie reported at the end of October, citing anonymous sources, that an investigation conducted by lawyers with GE Vernova, the contractors building Vineyard Wind, found that senior company executives at LM Wind Power were asking employees to “falsify quality control data.”
The unnamed sources said that the executives created a points system that “encouraged employees to skip verification steps,” which prioritized “production quantity over quality,” the Gaspesie report states....
....MUCH MORE
Recently:November 7
"Trump’s Win Is Crushing Renewable-Energy Stocks. Why This One Is Gaining." (GEV)
October 24
GE Vernova: Following Yesterday's Earnings Release The Stock Gets Three Price-Target Increases (GEV)
The
stock is up $16.41 (+5.86%) at $296.29. This follows on yesterday's
reversal to end green and is now up $24 from pixel time for "Power Generation—"GE Vernova Q3 Earnings: Strong Sales, Earnings Miss, Cash Flow Surge & More" (GEV)"
October 23
Power Generation—"GE Vernova Q3 Earnings: Strong Sales, Earnings Miss, Cash Flow Surge & More" (GEV)
GEV is the electric part of the old General Electric. They estimate their equipment is involved, one way or another, in 30% of the world's electricity production. The stock represents one of the class acts of infrastructure and has been popular of late, what with the A. and the I. and all that. Here's six months of that popularity via TradingView:
Up 77.82% over the period, down 1.65% (-$4.55) today. $271.86 last....
October 7"A GE spinoff's stock is surging as it positions itself as the 'supermarket' for AI energy demand" (GEV)
- January 2024 - "GE Gets Biggest Onshore Wind Order Ever Ahead of Split Up" (GE)
- May 2024 - Goldman Sachs' Picks For Data Center Electricity Demand Growth
Our other "class act" company, Quanta Services was down $3.80
(-1.21%) yesterday even though they too will be needed to rebuild the
grid regardless of who is in the White House.
$311.50 last, up $0.68 pre-market.
First Solar is probably dead money for a quarter, $192.20 down $1.82 (-0.94%) pre-market after getting whacked for -$21.87 (-10.13% ) on November 6.
If interested see yesterday's "UPDATED—Iowa Pollster Ann Selzer Destroyed The Dreams (and more importantly the finances) Of Renewable Energy Investors (FSLR)"