GE Vernova Soars, Cannabis-Linked Stocks Rally, United Airlines Sinks

Today's biggest winners and losers in the stock market.

On this episode of Stock Movers: 

- GE Vernova (GEV) one of the world’s only makers of big natural-gas turbines, soared the most in intraday trading since mid-December after its electrification unit sold more grid equipment, including substations and transformers, to data center customers in the first quarter than all of last year. GE Vernova said in its earnings statement that first-quarter orders for electrification equipment to hyperscalers and data center developers rose to $2.4 billion, more than all of last year. The company’s stock rose as much as 15.2% on Wednesday.

- Cannabis-linked stocks like those in the Amplify Alternative Harvest ETF (MJ) rallied on reports from Axios that President Donald Trump is expected to move to reclassify marijuana soon. 

- United Airlines (UAL) Chief Executive Officer Scott Kirby sidestepped questions about a potential merger with American Airlines Group Inc. while acknowledging that the current climate of high costs and struggling rivals might offer opportunities for deals. Kirby said in an interview with Bloomberg TV’s Lisa Abramowicz that his goal is to “create a truly global airline that all US citizens can be proud of,” though he declined to say if a transformational deal would be part of that plan. At the same time, he revealed that he’s considered some possibilities. United shares fell by about 6% in trading on Wednesday.

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