Industrials gainers and losers: GE Vernova gains the most, Boeing becomes the loser

The industrial sector almost followed the broader market’s movement this week. The Industrial Select Sector SPDR Fund ETF (XLI) closed 1.01% higher compared to a 1.42% rise in the wider S&P500 index.

Weekly top 5 gainers

• GE Vernova (NYSE:GEV) changed course from last week to end up as the biggest gainer this week with its shares +7.63%. GE Vernova reached a deal this week to sell its industrial software division, Proficy, to private equity firm TPG for $600 million.
• Eaton (NYSE:ETN) ended +5.21% in the week.
• C.H. Robinson Worldwide (NASDAQ:CHRW) was +5.02%.
• Howmet Aerospace’s (NYSE:HWM) shares closed +4.71% in the week ended September 12.
• PACCAR (NASDAQ:PCAR) was +4.44% after declaring a quarterly dividend of $0.33 per share, in line with the previous.

Weekly top 5 losers

• Boeing (NYSE:BA) -5.80%, lost the most after its shares dived to a one-month low during the week following the company’s acknowledgement that it may fall behind schedule in securing certification for its long-delayed 777X aircraft. On the other hand, Vertical Research upgraded the company to Buy on easing supply chains, stabilizing defense programs, and progress in company culture.
• Carrier (NYSE:CARR) ended -5.47% after the management sounded alarms over the residential HVAC market. They forecast a sharp downturn in Carrier’s North American residential business with volumes seen dropping over 40% and HVAC sales in the region falling ~30% YY.
• Lennox International (NYSE:LII) was again back in the red territory this week with shares -5.25%.
• J.B. Hunt Transport Services (NASDAQ:JBHT) was -3.97% even as Seeking Alpha analyst Dhierin Bechai expressed optimism over the stock on the back of its focus on cost control and revenue stability.
• Builders FirstSource (NYSE:BLDR) was -3.90% in the week.

ETFs to tab the industrial sector include: (XLI), (VIS), (XAR), (EXI), (PSCI), (PRN), (FIDU).

More on Industrials

• Striking Boeing employees in Missouri turn down latest offer
• Notable analyst calls this week: Boeing, Apple and British American Tobacco among top picks