NEW YORK (TheStreet) -- General Electric Co.'s (GE) joint-venture with the French aerospace group Safran (SAFRY) , CFM International, has received a $2 billion engine order from BOC Aviation, the Singapore-based leasing subsidiary of Bank of China (BACHY) , Reuters reports.
The order is for 100 LEAP-1B engines, which will power 50 new Boeing (BA) 737 MAX 8 aircrafts, and 60 CFM56-7BE engines, to run an additional 30 Boeing next generation 737s, Reuters added.
The estimated $2 billion order comes after BOC Aviation's earlier $8.8 billion order for 82 of Boeing's 737 series aircrafts.
Shares of General Electric are up 0.27% to $26.22 on Monday morning.
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 several positive factors, 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, growth in earnings per share, increase in net income, increase in stock price during the past year and expanding profit margins. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."