What Happened? Shares of industrial conglomerate GE Aerospace (NYSE:GE) jumped 9.4% in the pre-market session after the company reported strong fourth-quarter results, which blew past analysts' revenue estimates amid improved demand for spare parts,

GE Aerospace on Thursday forecast a stronger profit for the year after its fourth-quarter earnings exceeded Wall Street estimates as strong travel demand amid persistent shortages of new aircraft bolstered sales of its high-margin parts and services.

General Electric Co. exceeded Wall Street expectations for profit and sales in the final months of the year as the jet engine maker worked through supply-chain limitations and capitalized on a strong maintenance backlog.

Shares of industrial and transportation companies rose after strong earnings. GE Aerospace soared after the maker of plane engines, formerly known as General Electric, posted fourth-quarter earnings ahead of Wall Street targets and boosted its dividend.

GE Aerospace on Thursday forecast a stronger full-year profit as demand for its high-margin parts and services got a boost from airlines flying older jets to sidestep a persistent