Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

General Electric Jumps On Profit Increase; Says Boeing's Troubles Won’T Affect Production

|Includes: General Electric Company (GE)

General Electric(NYSE:GE) Inc. shares' jumped 3.5% by midday trading on a 7.5% increase in Q4 gross profit. The industrial conglomerate posted earnings of $0.44 a share, exceeding analyst expectations of $0.43. The company also boasted a 3.5% increase in backlogs, indicating future demand in the conglomerates' products. The world's largest jet engine manufacturer also released a post-earnings call detailing how Boeing(NYSE:BA) Co.'s recent troubles won't affect its operations: GE said that Boeing has not cut the amount of engines that they needed produced. General Electric also expects to ship 200 of its "GEnx" engine throughout 2013, having shipped 113 throughout 2012. This all bodes well for General Electric, which seems to be well positioned to continue growing.