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Vertiv Holdings (VRT) stock sinks on Wednesday after missing its second quarter earnings estimates despite its increase to full-year guidance. Vertiv is a major player in AI data center infrastructure. Morning Brief Host Julie Hyman is joined by Yahoo Finance Senior Reporter Pras Subramanian and Breaking News Reporter Jake Conley to weigh in on the outlook for the rest of the major companies participating in the AI infrastructure buildout.
GE Vernova's $24 Billion Order Boom Isn't Enough to Stop the Selloff
Demand for GE Vernova's equipment rose again in the second quarter of the year, but shares slid about 6% Wednesday morning. The company’s earnings per share missed analyst expectations, though its $11.1 billion in revenue for the quarter was higher than expected. It raised revenue and free cash flow guidance for the year.
GE Vernova’s revenue topped Wall Street estimates, and the company raised its full-year revenue outlook, though earnings per share came in below consensus.
Investing.com -- GE Vernova Inc. (NYSE:GEV) reported second-quarter results that missed earnings expectations despite beating revenue estimates, with shares falling 2.7% premarket following the announcement.
Highly anticipated GE Vernova earnings for the second quarter early Wednesday will provide the latest insights into AI-driven demand for gas turbines and electrical transformers. GE Vernova confirmed in June that its massive, heavy-duty gas turbines are basically sold out through 2029. Big Tech companies aggressively purchased the gas turbines to power their artificial-intelligence (AI) data-center campuses by themselves, with regionals grids unable to meet massive electricity demand.
The stock market is near highs but oil prices and yields are headwinds with Trump issuing new Iran threats. Nvidia and Walmart earnings loom.