Recent News: GE Healthcare, Jack Welch, Defense Department Contract, Outlook, Jeff Immelt, Jeff Zucker, NBC Universal. Iraq Power, Global Growth

GE enters home health care monitoring market
GE Healthcare, a business of General Electric Co., is entering a potential $5 billion international market providing health monitors for the elderly who live alone. GE Healthcare announced Wednesday an agreement with privately held Living Independently Group Inc., a provider of a wireless monitoring system to distribute monitors to seniors and develop new applications....

Former GE Boss Jack Welch Predicts Deep Economic Downturn
Former General Electric Co. chairman and chief executive Jack Welch said Wednesday that the U.S. was in for "one hell of a deep downturn." He urged swift and decisive action to confront the current financial crisis, expressing support for the $700-billion financial relief package proposed by the Bush administration....

GE gets $15M engine contract by Defense Department
The Defense Department has awarded a $15 million contract to a division of General Electric Co. for work on aircraft engine parts....

General Electric revises 3Q, full-year outlook
General Electric has lowered its outlook for third-quarter and full-year earnings, citing unprecedented weakness and volatility in the financial services markets. The company also has reaffirmed its commitment to maintaining a 'AAA' credit rating, and is taking steps to bolster its capital and liquidity position....

Immelt: Things Will Turn Around
After dropping more than 4% in early trading, GE shares were up nearly 4% at midday, after General Electric CEO Jeff Immelt said the credit storm has been rough on the company but won't sink it. Immelt emphasized during a (General Electric-owned) CNBC appearance that his company is "not in the credit default swap business," helping to alleviate fears--for now--that the company's problems with its GE Capital unit will plague it for the long haul...

Jeff Zucker says GE committed to NBC Uni
NBC Universal president and CEO Jeff Zucker reiterated the strength of parent GE's commitment to the media company Friday, calling it "profound" despite the recent financial turmoil and the profit warning issued Thursday by GE."I think it's looking at it backwards," he said, when asked whether GE was under renewed pressure to sell NBC because of the tightening of liquidity in financial markets....

Generally Weaker GE
GENERAL ELECTRIC PREANNOUNCED third-quarter earnings per share Thursday with a new range of 43 cents-48 cents down from prior guidance of 50 cents-54 cents. The company also lowered fiscal 2008 EPS guidance to $1.95-$2.10 from $2.20-$2.30....

Iraq signs bln-dollar power deals with GE, Siemens
Iraq has signed preliminary deals worth billions of dollars with General Electric Co and Siemens for equipment to almost double electricity generation capacity, an energy official said on Saturday....

GE gets cautious
When Jack Welch said his protégé, Jeff Immelt, was "getting his ass kicked" following a profit warning this year, the General Electric boss could console himself by pointing to a steady rise in cash returns to shareholders through dividends and buybacks. Yesterday's warning, accompanied by the suspension of buybacks and the first dividend freeze in 32 years, leaves Mr Immelt under more pressure than at any time since he took the reins in 2001....

GE: Betting on a Global Growth Story
Buying GE (GE)...safe 5% yield and 10 times earnings....picked up some for $24.77 a share Friday morning. I first became really interested in GE when shares hit $23 and change but did not pull the trigger. On Thursday, GE lowered guidance for the quarter and the year. Not a real surprise given conditions out there but two questions I had were answered. Was the dividend safe, and was its 'AAA' rating safe? The answer to both was yes....