NEW YORK (TheStreet) -- General Electric (GE) rose Wednesday after GE Aviation and Barco's Defence & Aerospace division announced the signing of a memorandum of understanding to collaborate on the development of a new series of open system cockpit display products.
The two companies will design the products for display and avionic system applications for helicopters, according to the statement.
"This collaboration builds upon our experience with Barco in this sector and our successful delivery of cockpit display systems for the UK Wildcat, Merlin and International AW159 helicopter display systems," said Alan Caslavka, president of Avionics & Digital Systems for GE Aviation, in the statement. "We will be able to provide customers with the most advanced flight deck with embedded applications while driving efficiency and reducing through life cost."
The stock was up 0.83% to $26.83 at 12:27 p.m.
Separately, TheStreet Ratings team rates GENERAL ELECTRIC CO as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate GENERAL ELECTRIC CO (GE) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, increase in stock price during the past year and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."