Pruning General Electric
First Jeff Immelt had a yard sale. Then he reorganized. In a move to continue his modernization of the century-old conglomerate, General Electric Immelt, the firm's chief executive, announced Friday that the company's structure will now consist of four businesses down from six. When he took over in 2001, there were 11 different segments under his auspices....
General Electric reorganizes into 4 major units
General Electric Co., which owns businesses ranging from light bulbs to NBC television, on Friday said it will restructure into four businesses from six, a move that Chief Executive Officer Jeff Immelt says will focus the company on growth. Immelt has been under pressure to shake up GE since it shocked investors with disappointing first-quarter earnings. GE's share price has since dropped nearly 22 percent....
FAA Recommends Replacement of GE Jet Engine Seals
The seals on some types of turbofan jet engines made by General Electric Co. should be replaced, the Federal Aviation Administration said after a probe into a 2004 fatal crash of a plane in Missouri. The Bombardier CL600 jet crashed near Jefferson City after the engines flamed out, killing the two pilots flying the otherwise empty 50-seater....
Cramer Gets Behind General Electric (GE)
Cramer discussed how it is winning in financial services while others are failing, noted how it hasn't rallied with other financial stocks, discussed the consolidation of its enterprise, and more. He also noted how it is winning in energy and alternative energy and noted how the new $8 Billion pact with Mubadala in Abu Dhabi is going to bring in a shareholder who has committed to buy millions of shares of stock in the open market to become one of GE's largest shareholders...
General Electric Presents a Dividend Opportunity
Diversified conglomerate General Electric announced its second quarter earnings this past Friday. According to GE's finance unit, GE money's profits fell 9% while the consensus estimate was for profits in that unit to drop 15-20%. Its Infrastructure unit's earnings, on the other hand, were up 24%. Overall, the company met expectations by posting nearly flat earnings growth over the same quarter in 2007. Revenue actually rose 11% to $46.9 billion....
GE sues SemGroup over pipeline cash transfer
A unit of General Electric Corp has sued failed energy trader SemGroup LP in connection with SemGroup's alleged diversion of $54 million in pipeline funds to other corporate purposes, according to court papers filed on Thursday. GE Capital Corp, which provided $120 million in financing for the White Cliffs pipeline being built by a unit of SemGroup, claims SemGroup is in default of its financing package but refuses to comply with the terms of its loan....
Sunday, July 27, 2008
Thursday, July 24, 2008
Recent News: Abu Dhabi Investment
GE partners with Abu Dhabi firm for a $8 billion finance fund
General Electric, seeking higher returns overseas, and Abu Dhabi's Mubadala Development formed a partnership Tuesday to invest in emerging markets in the Middle East and Africa, led by an $8 billion commercial finance fund....
Abu Dhabi to buy stake in General Electric
Abu Dhabi’s state investment fund said yesterday that it would become one of the largest investors in General Electric (GE) and that the two companies would set up an $8 billion (£4 billion) joint commercial finance venture in the Middle East and Africa....
General Electric, seeking higher returns overseas, and Abu Dhabi's Mubadala Development formed a partnership Tuesday to invest in emerging markets in the Middle East and Africa, led by an $8 billion commercial finance fund....
Abu Dhabi to buy stake in General Electric
Abu Dhabi’s state investment fund said yesterday that it would become one of the largest investors in General Electric (GE) and that the two companies would set up an $8 billion (£4 billion) joint commercial finance venture in the Middle East and Africa....
GE 2Q Earnings
General Electric 2Q profit falls
Industrial and financial conglomerate General Electric Co. announced Friday that its profit fell 6 percent in the second quarter, and that it has agreed to sell its Japanese consumer finance business for $5.4 billion. Fairfield-based GE earned $5.07 billion, or 51 cents per share, compared with a year-earlier profit of $5.38 billion, or 52 cents per share....
GE and Markets
General Electric's earnings today offer a stark look at what's going wrong (and a bit of what's right) in the market. Second-quarter profits fell 6 percent, and the company said it's selling off its Japanese consumer finance business. That's the latest surprise just weeks after GE said it would consider selling its consumer and industrial unit, which includes its signature appliances and light-bulb divisions....
Industrial and financial conglomerate General Electric Co. announced Friday that its profit fell 6 percent in the second quarter, and that it has agreed to sell its Japanese consumer finance business for $5.4 billion. Fairfield-based GE earned $5.07 billion, or 51 cents per share, compared with a year-earlier profit of $5.38 billion, or 52 cents per share....
GE and Markets
General Electric's earnings today offer a stark look at what's going wrong (and a bit of what's right) in the market. Second-quarter profits fell 6 percent, and the company said it's selling off its Japanese consumer finance business. That's the latest surprise just weeks after GE said it would consider selling its consumer and industrial unit, which includes its signature appliances and light-bulb divisions....
Recent News: Jack Welch, Olympics, GE Aviation, and NBC Universal
Judging Ge's Jack Welch
One of the big problems that most of us have in life is that we never get to read our own obituaries, which would be our best chance to see people saying nice things about us. But high-profile corporate chieftains who announce their departures don't have this problem. They get to hear all that nice stuff while they're still around, because retirement stories strongly resemble obits, except that the subject is still alive and kicking. As witness the gushing and slobbering over General Electric chairman Jack Welch last week after he mentioned on a TV show that he plans to retire in April 2001...
GE Goes For The Gold
For years investors have been asking why General Electric owns NBC Universal, and GE has been making the case that despite having little to do with the rest of the business, the network was a one-of-a-kind asset worth hanging on to....
GE Aviation enters fast-growing industry segment with purchase of Czech turboprop engine maker
General Electric's aviation unit said Thursday it bought a Czech company that will help it make inroads into the fast-growing market for small twin-engine turboprop aircraft. GE Aviation said it purchased Walter Engines, a manufacturer of small turboprop engines and machined parts for the aviation industry...
Immelt Defends GE's Wide Reach
Unlike three months ago, when GE announced an unexpected 5.9% drop in first-quarter earnings just weeks after Mr. Immelt had issued sunnier projections, he has told investors to expect relatively flat second-quarter results and profit growth of zero to 5% for 2008. He blames the credit crisis and a difficult economic time....
NBC Universal Clinches Deal to Buy Weather Channel
Long before April’s rare earnings miss at General Electric, which ramped up some analysts’ calls for the industrial conglomerate to sell off some of its businesses, many on Wall Street have scratched their heads over NBC Universal, GE’s media and entertainment arm. Some have called for the company, whose booming infrastructure business can seem like an odd fit with a TV network and movie studio, to spin off the peacock part of the portfolio....
Will GE get out of hot water by selling NBC to Time Warner?
General Electric (NYSE:GE), which reports earnings tomorrow, has indicated that it may spin-off its weakest divisions -- the firm's consumer and industrial units. No one cared, and the stock did not move. The action would not be enough, nearly enough to pull GE away from its multi-year lows....
GE Aviation to supply parts for Gulfstream G650
A unit of General Electric Co. said Monday it will supply parts for Gulfstream Aircraft Corp.'s G650 business jet in a deal worth potentially more than $100 million.
GE Aviation said it will supply the secondary power distribution system and APU door actuation system for the Gulfstream jet....
FlyDubai orders CFM56-7B engines
General Electric Company announced on Monday (15 July) that FlyDubai, a new low-cost carrier from the government of Dubai, UAE, has ordered 50 CFM56-7B-powered Boeing Next-Generation 737-800 and 737-900 aircraft. The CFM56-7B is a product of CFM International (CFM), a 50/50 joint company between Snecma (SAFRAN Group) and General Electric Company...
Airworthiness Directives; General Electric Company (GE) CT58 Series Turboshaft Engines
The FAA proposes to adopt a new airworthiness directive (AD) for certain GE CT58 series turboshaft engines. This proposed AD would require recalculating the lives of certain part numbered compressor spools using a new repetitive heavy lift (RHL) multiplying factor. This proposed AD results from reports of cracks originating from the inner faces of the locking screw holes in the compressor spool. We are proposing this AD to prevent cracks due to RHL missions. Cracks could result in an uncontained rotor burst and damage to, or loss of, the helicopter and serious injuries to any person onboard...
One of the big problems that most of us have in life is that we never get to read our own obituaries, which would be our best chance to see people saying nice things about us. But high-profile corporate chieftains who announce their departures don't have this problem. They get to hear all that nice stuff while they're still around, because retirement stories strongly resemble obits, except that the subject is still alive and kicking. As witness the gushing and slobbering over General Electric chairman Jack Welch last week after he mentioned on a TV show that he plans to retire in April 2001...
GE Goes For The Gold
For years investors have been asking why General Electric owns NBC Universal, and GE has been making the case that despite having little to do with the rest of the business, the network was a one-of-a-kind asset worth hanging on to....
GE Aviation enters fast-growing industry segment with purchase of Czech turboprop engine maker
General Electric's aviation unit said Thursday it bought a Czech company that will help it make inroads into the fast-growing market for small twin-engine turboprop aircraft. GE Aviation said it purchased Walter Engines, a manufacturer of small turboprop engines and machined parts for the aviation industry...
Immelt Defends GE's Wide Reach
Unlike three months ago, when GE announced an unexpected 5.9% drop in first-quarter earnings just weeks after Mr. Immelt had issued sunnier projections, he has told investors to expect relatively flat second-quarter results and profit growth of zero to 5% for 2008. He blames the credit crisis and a difficult economic time....
NBC Universal Clinches Deal to Buy Weather Channel
Long before April’s rare earnings miss at General Electric, which ramped up some analysts’ calls for the industrial conglomerate to sell off some of its businesses, many on Wall Street have scratched their heads over NBC Universal, GE’s media and entertainment arm. Some have called for the company, whose booming infrastructure business can seem like an odd fit with a TV network and movie studio, to spin off the peacock part of the portfolio....
Will GE get out of hot water by selling NBC to Time Warner?
General Electric (NYSE:GE), which reports earnings tomorrow, has indicated that it may spin-off its weakest divisions -- the firm's consumer and industrial units. No one cared, and the stock did not move. The action would not be enough, nearly enough to pull GE away from its multi-year lows....
GE Aviation to supply parts for Gulfstream G650
A unit of General Electric Co. said Monday it will supply parts for Gulfstream Aircraft Corp.'s G650 business jet in a deal worth potentially more than $100 million.
GE Aviation said it will supply the secondary power distribution system and APU door actuation system for the Gulfstream jet....
FlyDubai orders CFM56-7B engines
General Electric Company announced on Monday (15 July) that FlyDubai, a new low-cost carrier from the government of Dubai, UAE, has ordered 50 CFM56-7B-powered Boeing Next-Generation 737-800 and 737-900 aircraft. The CFM56-7B is a product of CFM International (CFM), a 50/50 joint company between Snecma (SAFRAN Group) and General Electric Company...
Airworthiness Directives; General Electric Company (GE) CT58 Series Turboshaft Engines
The FAA proposes to adopt a new airworthiness directive (AD) for certain GE CT58 series turboshaft engines. This proposed AD would require recalculating the lives of certain part numbered compressor spools using a new repetitive heavy lift (RHL) multiplying factor. This proposed AD results from reports of cracks originating from the inner faces of the locking screw holes in the compressor spool. We are proposing this AD to prevent cracks due to RHL missions. Cracks could result in an uncontained rotor burst and damage to, or loss of, the helicopter and serious injuries to any person onboard...
Recent News: Wall Street, Credit Card, Bounce, Yield, and Warren Buffett
Wall Street falls out of love with General Electric
Usually, it's easy to find bullish analysts on Wall Street. In fact, the criticism leveled most often at stock pickers at major brokerage firms is that they are too easy on the companies they cover, explaining away every earnings miss and always finding another reason to slap on a buy rating.
Not in the case of General Electric, though. These days, it's hard to find much love on the Street for what was once the bluest of blue chips....
Buyers shying away from GE's credit card business: report
General Electric Co's auction of its $30 billion credit-card business is attracting only tepid interest, according to an article on the Wall Street Journal's website....
GE: Not Too Big to Bounce
That question has to be bothering General Electric shareholders today, as the stock continues to bounce around its five-year low. Weighing it at a robust $260 billion-plus in market cap, GE's very size suggests that it could have a tough time fulfilling its routine promises of year-over-year double-digit profits growth. Still more important to shareholders, the company's size makes it difficult to imagine the stock price resuming its upward rise of yester-decade...
General Electric: A buy for yield
General Electric (NYSE: GE) may be one of the most admired companies in the world, at least according to Fortune. But, Wall Street hates the company and has driven its stock to multi-year lows. The concerns have been printed dozens of times in the press: GE is too large. It has too many units that do not do well. None of the firm's divisions fit well together....
Is General Electric One of Buffett’s “Wonderful Companies?”
Warren Buffett bestows that nugget of knowledge upon us peasant investors. I believe that it’s very important to reflect on such a quote during current market conditions...
Usually, it's easy to find bullish analysts on Wall Street. In fact, the criticism leveled most often at stock pickers at major brokerage firms is that they are too easy on the companies they cover, explaining away every earnings miss and always finding another reason to slap on a buy rating.
Not in the case of General Electric, though. These days, it's hard to find much love on the Street for what was once the bluest of blue chips....
Buyers shying away from GE's credit card business: report
General Electric Co's auction of its $30 billion credit-card business is attracting only tepid interest, according to an article on the Wall Street Journal's website....
GE: Not Too Big to Bounce
That question has to be bothering General Electric shareholders today, as the stock continues to bounce around its five-year low. Weighing it at a robust $260 billion-plus in market cap, GE's very size suggests that it could have a tough time fulfilling its routine promises of year-over-year double-digit profits growth. Still more important to shareholders, the company's size makes it difficult to imagine the stock price resuming its upward rise of yester-decade...
General Electric: A buy for yield
General Electric (NYSE: GE) may be one of the most admired companies in the world, at least according to Fortune. But, Wall Street hates the company and has driven its stock to multi-year lows. The concerns have been printed dozens of times in the press: GE is too large. It has too many units that do not do well. None of the firm's divisions fit well together....
Is General Electric One of Buffett’s “Wonderful Companies?”
Warren Buffett bestows that nugget of knowledge upon us peasant investors. I believe that it’s very important to reflect on such a quote during current market conditions...
Blogging Stocks: Recent General Electric News and Opinion
Insider is bullish on General Electric's stock -- should you be?
If you ask me, General Electric is being priced as if the Cloverfield monster will be attacking Wall Street any day now. Thank goodness that an insider apparently thinks that GE is a great buy at these levels. According to the AP, vice chairman Michael A. Neal purchased 35,000 shares this past Wednesday. The price? $29.99 per share. Not bad. At $29.99, GE's stock sports a nice, juicy dividend yield of 4.1%. I was pretty happy when I read this piece of news because, frankly, I've been wrong about GE...
General Electric (GE): A 'global juggernaut'
Despite negative analyst commentary, General Electric is one of the biggest and best blue-chip stocks," says Karim Rahemtulla. The contributing editor to The Oxford Club looks at the "global juggernaut." "It's now more crucial than ever that your portfolio holdings are well-diversified, and GE is arguably the most diversified company in the world, with exposure to a plethora of sectors....
If you ask me, General Electric is being priced as if the Cloverfield monster will be attacking Wall Street any day now. Thank goodness that an insider apparently thinks that GE is a great buy at these levels. According to the AP, vice chairman Michael A. Neal purchased 35,000 shares this past Wednesday. The price? $29.99 per share. Not bad. At $29.99, GE's stock sports a nice, juicy dividend yield of 4.1%. I was pretty happy when I read this piece of news because, frankly, I've been wrong about GE...
General Electric (GE): A 'global juggernaut'
Despite negative analyst commentary, General Electric is one of the biggest and best blue-chip stocks," says Karim Rahemtulla. The contributing editor to The Oxford Club looks at the "global juggernaut." "It's now more crucial than ever that your portfolio holdings are well-diversified, and GE is arguably the most diversified company in the world, with exposure to a plethora of sectors....
Recent News: Volatility, Stock Performance, GE Healthcare, Hybrid Vehicles, and Weather Channel
Volatility the new reality for GE shares
Investors can expect more volatility in the stock of once rock-solid General Electric Co., at least until the company reassures Wall Street with a few solid earnings reports. Shares of the second-largest U.S. company by market capitalization fell for a second straight day on Friday -- hitting their lowest point since late 2003 -- after speculation about coming write-offs at its financial arm spooked investors....
GE, Near 5-Year Low, Says Outside Capital Not Needed
General Electric Co., whose shares neared a five-year low today partly on concern it may need to pump cash into its finance units, repeated that no outside infusion is needed to keep its AAA credit rating....
GE Healthcare to manage its operations from Turkey
GE Healthcare, General Electric's (GE) healthcare services branch worth $17 billion, will start managing its operations in the Eastern and Asian markets (EAGM), from Turkey. GE Healthcare decided to combine the EAGM region into a single "International Diagnostic Imaging" operation, and conduct its activities from Istanbul, officials from GE Healthcare and Turkey's Investment Support and Promotion Agency said at a joint press conference on Friday....
Feds Scrape Together $30M for Plug-In Hybrids. That's All?
The Bush Administration has shown its support for plug-in hybrids by promising a measly $30 million to get them on the road within eight years, a figure and a timeline some automakers and plug-in advocates say is too little and too long. Getting these cars on the road quickly, they say, should be a national priority with the funding to match....
NBC Nears a Deal for Weather Channel
A group of investors led by NBC Universal and the Blackstone Group is near a deal to buy The Weather Channel for more than $3 billion, people briefed on the negotiations said....
Weather Channel may be GE's prize as Time Warner balks
Everybody talks about the weather. Time Warner has decided not to do anything about it.
The media giant today withdrew its bid for the Weather Channel, leaving only General Electric Co.'s NBC Universal unit and its partners as potential buyers for one of the most widely available cable channels in the U.S....
GE teams with Chrysler on plug-in hybrid system
General Electric is interested in supplying components for plug-in hybrid vehicles and is teaming with Chrysler on a project to demonstrate a technology GE calls a dual-battery energy storage system.Vlatko Vlatkovic, a GE official, told Automotive News on Thursday that the company has developed a hybrid railroad locomotive--which he compared to a "6,000-horsepower Prius on rails"--and is working on a heavy-duty, off-highway hybrid truck....
Investors can expect more volatility in the stock of once rock-solid General Electric Co., at least until the company reassures Wall Street with a few solid earnings reports. Shares of the second-largest U.S. company by market capitalization fell for a second straight day on Friday -- hitting their lowest point since late 2003 -- after speculation about coming write-offs at its financial arm spooked investors....
GE, Near 5-Year Low, Says Outside Capital Not Needed
General Electric Co., whose shares neared a five-year low today partly on concern it may need to pump cash into its finance units, repeated that no outside infusion is needed to keep its AAA credit rating....
GE Healthcare to manage its operations from Turkey
GE Healthcare, General Electric's (GE) healthcare services branch worth $17 billion, will start managing its operations in the Eastern and Asian markets (EAGM), from Turkey. GE Healthcare decided to combine the EAGM region into a single "International Diagnostic Imaging" operation, and conduct its activities from Istanbul, officials from GE Healthcare and Turkey's Investment Support and Promotion Agency said at a joint press conference on Friday....
Feds Scrape Together $30M for Plug-In Hybrids. That's All?
The Bush Administration has shown its support for plug-in hybrids by promising a measly $30 million to get them on the road within eight years, a figure and a timeline some automakers and plug-in advocates say is too little and too long. Getting these cars on the road quickly, they say, should be a national priority with the funding to match....
NBC Nears a Deal for Weather Channel
A group of investors led by NBC Universal and the Blackstone Group is near a deal to buy The Weather Channel for more than $3 billion, people briefed on the negotiations said....
Weather Channel may be GE's prize as Time Warner balks
Everybody talks about the weather. Time Warner has decided not to do anything about it.
The media giant today withdrew its bid for the Weather Channel, leaving only General Electric Co.'s NBC Universal unit and its partners as potential buyers for one of the most widely available cable channels in the U.S....
GE teams with Chrysler on plug-in hybrid system
General Electric is interested in supplying components for plug-in hybrid vehicles and is teaming with Chrysler on a project to demonstrate a technology GE calls a dual-battery energy storage system.Vlatko Vlatkovic, a GE official, told Automotive News on Thursday that the company has developed a hybrid railroad locomotive--which he compared to a "6,000-horsepower Prius on rails"--and is working on a heavy-duty, off-highway hybrid truck....
