Crispr Therapeutics shares tumble after significant earnings miss
In a recent filing with the Securities and Exchange Commission, GE Vernova Inc., a prominent player in the electronic and electrical equipment manufacturing sector with a market capitalization of $116.53 billion, reported the outcomes of its annual stockholders’ meeting held on May 14, 2025. According to InvestingPro data, the company has demonstrated remarkable performance with a 157% return over the past year.
At the meeting, shareholders elected three Class I directors to serve three-year terms until the 2028 annual meeting or until their successors are elected and qualified. The directors elected were Steve Angel, Arnold Donald, and Jesus Malave, with Angel receiving 190,555,947 votes for, 5,207,462 against, and 868,630 abstentions. Donald received 193,101,407 votes for, 2,640,630 against, and 890,002 abstentions. Malave received 194,920,424 votes for, 837,544 against, and 874,071 abstentions. There were 32,483,130 broker non-votes for each nominee.
Additionally, shareholders approved the compensation of the company’s named executive officers through an advisory vote, with 185,519,323 votes for, 10,428,004 against, and 684,712 abstentions, alongside 32,483,130 broker non-votes.
Furthermore, the frequency of future advisory votes on executive compensation was set to occur annually, as preferred by the majority of the votes, with 194,084,230 votes for 1 year, 380,110 for 2 years, 1,590,893 for 3 years, and 576,806 abstentions.
Lastly, the appointment of Deloitte & Touche LLP as the company’s independent auditor for the fiscal year ending December 31, 2025, was ratified with an overwhelming majority of 228,102,724 votes for, 516,473 against, and 495,972 abstentions.
The filing, made public on Friday, May 16, 2025, confirms the decisions made by GE Vernova’s shareholders and outlines the company’s governance and oversight plans for the upcoming year. The company, headquartered in Cambridge, MA, and incorporated in Delaware, is listed on the New York Stock Exchange under the trading symbol GEV. InvestingPro analysis indicates the stock is currently trading at elevated multiples with a P/E ratio of 53.6x, suggesting potential overvaluation. For deeper insights into GE Vernova’s valuation and 14 additional exclusive ProTips, consider exploring InvestingPro’s comprehensive research report, which provides detailed analysis of the company’s financial health and market position.
In other recent news, GE Vernova reported impressive financial results for the first quarter of 2025, with earnings per share (EPS) reaching $0.91, surpassing the forecast of $0.63. The company’s revenue increased by 15% year-over-year, totaling $10.2 billion. GE Vernova also returned $1.3 billion to shareholders through share repurchases, highlighting a strong capital return strategy. Meanwhile, Prolec GE announced a $140 million investment to expand its transformer production in North Carolina, aiming to double its output by 2030. This expansion is expected to create over 330 full-time jobs and aligns with North America’s electrification goals. Analyst firms have also weighed in on GE Vernova’s recent performance, with Mizuho (NYSE:MFG) Securities raising its price target to $385 and maintaining an Outperform rating. JPMorgan increased its price target to $430, citing strong first-quarter results and robust order intake. These developments reflect GE Vernova’s ongoing efforts to enhance its market position and operational efficiency amidst challenges such as import tariffs.
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