FOLLOW UP
It's Time to Buy General Electric
A return to topics discussed in earlier issues
GENERAL ELECTRIC'S FINANCIAL PERFORMANCE CONTINUES to disappoint, with the conglomerate reducing earnings guidance last week for the second time this year. At 25, however, its shares look cheap enough to buy. GE's "operations have improved since 2000, but there has been a dramatic contraction of valuation," says Jack De Gan, chief investment officer at Harbor Advisory in Portsmouth, N.H....
Tuesday, September 30, 2008
Sunday, September 28, 2008
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....
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....
Wednesday, September 24, 2008
Recent News: GE branded TVs, GE's 'boring' assets, Bernanke and Paulson, Inflation, and Analyst Dowdgrades
GE-branded TVs make a comeback
More than two decades after exiting the television manufacturing business, General Electric Co. is entering a new joint partnership that will make GE-branded flat panel TVs that connect to the Internet. The giant conglomerate is granting the use of its brand for 10 years and taking a 49 percent stake in the venture with Tatung Co. of Taiwan to make liquid crystal displays that also play Internet videos....
GE, Taiwan's Tatung team up on HDTVs
US conglomerate General Electric announced on Tuesday that it had entered into a joint venture with Taiwan's Tatung Co. to produce innovative high-definition television sets. The joint venture, General Displays & Technologies (GDT), will "design, market and service GE-branded HDTVs" with the first sets hitting the market early next year, GE said in a statement....
Stormy Weather, Sunny Outlook For Rails; GE Touts ‘Boring’
It’s come to this: that financial services companies have to defend their portfolios by describing their asset mix as some version of American cheese on white bread with the crusts cut off. All in the service of blunting any worries that the exotic equals the suspicious in the minds of contemporary investors. Still, even going the Lake Woebogone route doesn’t always insulate a portfolio from the skeptics. Take General Electric (GE): the industrial conglomerate / slash / financial services giant (the latter operations fund nearly half the company’s profits these days) insisted in a Wall Street Journal article that its financial arm was loaded up with ”boring” assets...
US STOCKS-Financial worries, GE push Wall Street lower
U.S. stocks fell in choppy trading on Tuesday, led by a drop in shares of General Electric and lingering worries about the financial sector that derailed an advance spearheaded by technology companies....
Bernanke and Paulson, Google, GE, inflation
U.S. equity indices are slightly lower this morning. S&P 500 futures eased 1 point before the opening. Traders are waiting for testimonies by Federal Reserve Chairman Ben Bernanke and Treasury Secretary Hank Paulson in front of the Senate banking committee starting at 9:30 AM EDT. Several Democrat senators are expressing skepticism about the proposed rescue bill. Chances of approval of the bill by the end of this week have become diminished. Also, the bill could be “Christmas treed” with additional issues not directly related to the rescue program...
Opening View: General Electric Downgraded on Earnings Concerns
U.S. stock futures are lower this morning, pointing to a potentially negative start to the day. Taking a look at currencies and commodities, the greenback is higher against most of its foreign rivals, as gold and crude futures have pared recent gains. In focus this morning is the upcoming testimony of Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson, the latest earnings from homebuilder Lennar Corp. (LEN), a downgrade for blue chip General Electric (GE), and a warning for Washington Mutual (WM)...
General Electric cut to neutral by Merrill Lynch
General Electric Company was downgraded to neutral from buy and its price target slashed to $28 from $37.50 by Merrill Lynch, with the broker cutting its earnings estimate for...
More than two decades after exiting the television manufacturing business, General Electric Co. is entering a new joint partnership that will make GE-branded flat panel TVs that connect to the Internet. The giant conglomerate is granting the use of its brand for 10 years and taking a 49 percent stake in the venture with Tatung Co. of Taiwan to make liquid crystal displays that also play Internet videos....
GE, Taiwan's Tatung team up on HDTVs
US conglomerate General Electric announced on Tuesday that it had entered into a joint venture with Taiwan's Tatung Co. to produce innovative high-definition television sets. The joint venture, General Displays & Technologies (GDT), will "design, market and service GE-branded HDTVs" with the first sets hitting the market early next year, GE said in a statement....
Stormy Weather, Sunny Outlook For Rails; GE Touts ‘Boring’
It’s come to this: that financial services companies have to defend their portfolios by describing their asset mix as some version of American cheese on white bread with the crusts cut off. All in the service of blunting any worries that the exotic equals the suspicious in the minds of contemporary investors. Still, even going the Lake Woebogone route doesn’t always insulate a portfolio from the skeptics. Take General Electric (GE): the industrial conglomerate / slash / financial services giant (the latter operations fund nearly half the company’s profits these days) insisted in a Wall Street Journal article that its financial arm was loaded up with ”boring” assets...
US STOCKS-Financial worries, GE push Wall Street lower
U.S. stocks fell in choppy trading on Tuesday, led by a drop in shares of General Electric and lingering worries about the financial sector that derailed an advance spearheaded by technology companies....
Bernanke and Paulson, Google, GE, inflation
U.S. equity indices are slightly lower this morning. S&P 500 futures eased 1 point before the opening. Traders are waiting for testimonies by Federal Reserve Chairman Ben Bernanke and Treasury Secretary Hank Paulson in front of the Senate banking committee starting at 9:30 AM EDT. Several Democrat senators are expressing skepticism about the proposed rescue bill. Chances of approval of the bill by the end of this week have become diminished. Also, the bill could be “Christmas treed” with additional issues not directly related to the rescue program...
Opening View: General Electric Downgraded on Earnings Concerns
U.S. stock futures are lower this morning, pointing to a potentially negative start to the day. Taking a look at currencies and commodities, the greenback is higher against most of its foreign rivals, as gold and crude futures have pared recent gains. In focus this morning is the upcoming testimony of Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson, the latest earnings from homebuilder Lennar Corp. (LEN), a downgrade for blue chip General Electric (GE), and a warning for Washington Mutual (WM)...
General Electric cut to neutral by Merrill Lynch
General Electric Company was downgraded to neutral from buy and its price target slashed to $28 from $37.50 by Merrill Lynch, with the broker cutting its earnings estimate for...
Tuesday, September 23, 2008
Recent News: Google - GE Energy Plan, Stock Performance, Price Target Lowered, and Reuters Summit
Google, General Electric back renewable energy, smart grid
Pushing forward any new technology project can be easier with Google on your side. That's why General Electric joined with the Internet behemoth in a joint effort to further consumer energy options and help America's electricity infrastructure...
General Electric's Drag
Triple-A-rated General Electric is best known for light bulbs and refrigerators, and it has long been among the bluest of blue chips stocks on Wall Street. But despite its industrial past, these days, GE is essentially a bank in drag. Of its $46.9 billion in second-quarter revenue, 40.7% came from its financial operations. On June 30, finance accounted for 82.1% of GE's company-wide assets....
GE's slide continues on financial unit worries
Shares of General Electric Co. dropped nearly 7 percent Wednesday, hurt by investor worries about its financial services unit amid the global credit crisis. Analyst C. Stephen Tusa Jr. of JPMorgan said in an investor note Wednesday that he expects GE's finance business to decline by between 5 percent and 10 percent next year. He previously said growth would be flat, but now says that estimate "looks unrealistic."...
GE And Google Announce '21st Century' Electricity System
Blaise Zerega says let the energy search begin. In a marriage of old and new economy, Google and GE today announced a partnership to promote sustainable energy. With the ongoing financial turmoil as a backdrop, both companies are coming together to collaborate on new, renewable technologies that could, ultimately, deliver energy independence and help our economy....
Target slashed on GE
The stock market can behave irrationally at times, but who wants to bet against it when it is in one of its moods? Not Nigel Coe, an analyst at Deutsche Bank, who slashed his 12-month price target on General Electric Co. to $28 (U.S.) a share from $33 – a 15 per cent cut...
Reuters Summit-GE sees surge in bankruptcies
General Electric Co expects U.S. demand for financing to help bankrupt companies restructure themselves to rise by five or six times this year as a credit crunch leaves a growing number of businesses scrambling for liquidity....
GE shares climb 10 percent in late trading
General Electric Co. shares rose 10 percent in late trading on Thursday, amid a broad rally in U.S. stocks after CNBC reported that the U.S. Treasury Department was working on a solution to the financial crisis....
Pushing forward any new technology project can be easier with Google on your side. That's why General Electric joined with the Internet behemoth in a joint effort to further consumer energy options and help America's electricity infrastructure...
General Electric's Drag
Triple-A-rated General Electric is best known for light bulbs and refrigerators, and it has long been among the bluest of blue chips stocks on Wall Street. But despite its industrial past, these days, GE is essentially a bank in drag. Of its $46.9 billion in second-quarter revenue, 40.7% came from its financial operations. On June 30, finance accounted for 82.1% of GE's company-wide assets....
GE's slide continues on financial unit worries
Shares of General Electric Co. dropped nearly 7 percent Wednesday, hurt by investor worries about its financial services unit amid the global credit crisis. Analyst C. Stephen Tusa Jr. of JPMorgan said in an investor note Wednesday that he expects GE's finance business to decline by between 5 percent and 10 percent next year. He previously said growth would be flat, but now says that estimate "looks unrealistic."...
GE And Google Announce '21st Century' Electricity System
Blaise Zerega says let the energy search begin. In a marriage of old and new economy, Google and GE today announced a partnership to promote sustainable energy. With the ongoing financial turmoil as a backdrop, both companies are coming together to collaborate on new, renewable technologies that could, ultimately, deliver energy independence and help our economy....
Target slashed on GE
The stock market can behave irrationally at times, but who wants to bet against it when it is in one of its moods? Not Nigel Coe, an analyst at Deutsche Bank, who slashed his 12-month price target on General Electric Co. to $28 (U.S.) a share from $33 – a 15 per cent cut...
Reuters Summit-GE sees surge in bankruptcies
General Electric Co expects U.S. demand for financing to help bankrupt companies restructure themselves to rise by five or six times this year as a credit crunch leaves a growing number of businesses scrambling for liquidity....
GE shares climb 10 percent in late trading
General Electric Co. shares rose 10 percent in late trading on Thursday, amid a broad rally in U.S. stocks after CNBC reported that the U.S. Treasury Department was working on a solution to the financial crisis....
Recent News: GE Added to Short-Shelling Ban List
General Electric Awarded “No-Short” Status (GE)
It looks like more wishes are being granted in the government’s seemingly arbitrary “live and let die” financial rescue plan.Companies like General Electric (GE), American Express (AXP), General Motors (GM), and several foreign banks were also included on the exclusive “no-short” list over the weekend. Many of these companies had been very proactive in stating their case to be offered protection from what the government would have America believe are bloodthirsty hordes of short sellers....
More companies added to short-sale protection list
The number of companies temporarily protected from short selling soared from 799 to more than 900 on Monday as the two top stock exchanges added widely traded firms, including American Express (AXP), General Electric (GE) and General Motors (GM), to a list that the SEC put out on Friday....
Ahead of the Bell: GE up after short-selling ban
Shares of General Electric Co. jumped Friday after the Securities and Exchange Commission temporarily banned short-selling of some stocks. On Friday, the SEC banned short-selling of nearly 800 stocks. Short-selling - selling borrowed stock in the hope its value will fall - has been blamed for widening the scope of the recent financial crisis and contributing to the collapse of values of investment and commercial bank stocks in particular....
Amex, GE and others may seek to be on short-seller ban list
Companies in the financial-services sector that were left off a government list banning short sellers from trading certain stock may be seeking inclusion...
It looks like more wishes are being granted in the government’s seemingly arbitrary “live and let die” financial rescue plan.Companies like General Electric (GE), American Express (AXP), General Motors (GM), and several foreign banks were also included on the exclusive “no-short” list over the weekend. Many of these companies had been very proactive in stating their case to be offered protection from what the government would have America believe are bloodthirsty hordes of short sellers....
More companies added to short-sale protection list
The number of companies temporarily protected from short selling soared from 799 to more than 900 on Monday as the two top stock exchanges added widely traded firms, including American Express (AXP), General Electric (GE) and General Motors (GM), to a list that the SEC put out on Friday....
Ahead of the Bell: GE up after short-selling ban
Shares of General Electric Co. jumped Friday after the Securities and Exchange Commission temporarily banned short-selling of some stocks. On Friday, the SEC banned short-selling of nearly 800 stocks. Short-selling - selling borrowed stock in the hope its value will fall - has been blamed for widening the scope of the recent financial crisis and contributing to the collapse of values of investment and commercial bank stocks in particular....
Amex, GE and others may seek to be on short-seller ban list
Companies in the financial-services sector that were left off a government list banning short sellers from trading certain stock may be seeking inclusion...
Thursday, September 18, 2008
Recent News: GE Aviation, Bear Market Investors, Nigerian Power Project, and Google Energy News Conference
GE Aviation CEO Joyce adds senior position with parent firm
General Electric Co. has promoted David Joyce to senior vice president following his appointment in July as president and CEO of Evendale-based GE Aviation. Joyce, 51, was previously head of commercial engines since 2002...
GE Attracts Bearish Investors
As Wall Street struggled to come to grips with the blast of bad news from the financial sector Monday, options traders fixed their attention on General Electric Co. There was a whirl of activity in GE options on Monday, and trading spiked to six times the normal level. Investors showed a clear bias toward bearish contracts, picking up 301,000 calls that allow them to buy GE's stock and 442,000 puts that allow them to sell it, according to Trade Alert....
NIPP: We Didn’t Bribe Nigerian Officials – General Electric
General Electric (GE), the global infrastructure, technology, media and financial services company, yesterday absolved itself of any complicity in the scandal that rocked the National Integrated Power Project, NIPP, saying it carried out its obligations to the letter.Replying reporters' questions in Abuja on the role of the US-based company, President and CEO of GE International, Ferdinando Nani Beccalli, who was in Abuja for the first "GE Day" in Nigeria...
GE, Google plan news conference on energy plans
Energy conglomerate General Electric Co and Internet leader Google Inc plan to hold a news conference shortly on unspecified joint energy projects, the companies said on Wednesday....
Recent News: Stock Performance Continued
Why blue chips will bounce back
For many years, investors took it on faith that a portfolio of big blue-chip stocks - chockfull of familiar names like General Electric and Coca-Cola - was the surest path to investing success. Why get cute with complicated stuff like foreign equities or small-cap shares when you could invest in well-known, industry-leading companies, sleep well at night and watch your portfolio steadily grow?...
GE tumbles 8 percent on financial worry
General Electric Co shares tumbled for a second straight trading day on Monday, hitting a five-year low as investors scrambled to reduce their exposure to the financial sector following the bankruptcy of Lehman Brothers Holdings Inc...
GE shares hit new five-year low on financial jitters
The Fairfield, Conn., conglomerate operates one of the largest financial-services companies in the U.S., making up about 45% of its overall business, with the rest coming from its industrial products and services side. Shares plunged nearly 10% in early trading to bottom at $22.16, its lowest point since March 2003. Later in the morning, however, the stock rose back to $25 on word the U.S. government may consider funding for AIG to help keep the insurer solvent...
GE shares slide for 3rd consecutive session
Shares of General Electric Co. opened lower Tuesday, extending a losing streak for a third consecutive session. Shares closed down 5 percent Friday as worries about the financial sector added to fears about GE's inability to sell its private-label credit card business...
GE shares down, CEO sees no need to panic
General Electric Co shares tumbled 6.6 percent on Wednesday, even as the conglomerate's chief executive said people should be "concerned but not panicked" about the financial crisis. GE has lost about 17 percent of its market value, or $46.7 billion, over the past week, as the bankruptcy of investment bank Lehman Brothers Holdings Inc and a U.S. government bailout of insurer American International Group Inc spooked investors....
GE's slide continues on financial unit worries
Shares of General Electric Co. dropped 9 percent Wednesday, hurt by investor worries about its financial services unit amid the global credit crisis. Analyst C. Stephen Tusa Jr. of JPMorgan said in an investor note Wednesday that he expects GE's finance business to decline by between 5 percent and 10 percent next year. He previously said growth would be flat, but now says that estimate "looks unrealistic."...
Analyst: GE doesn't need to sell credit unit
An analyst at Stern, Agee & Leach Inc. said that General Electric Co. does not need to sell its private label credit card business given the market's instability. Shares of General Electric, which hit a 5-year low Tuesday, have come under pressure in recent days as investors worried that earnings at its GE Capital unit could face the same challenges as other financial services firms...
GE shares reverse slide
Shares of General Electric Co. traded higher Tuesday, reversing a two-day losing streak.
Shares closed down 5 percent Friday as worries about the financial sector added to fears about GE's inability to sell its private-label credit card business....
For many years, investors took it on faith that a portfolio of big blue-chip stocks - chockfull of familiar names like General Electric and Coca-Cola - was the surest path to investing success. Why get cute with complicated stuff like foreign equities or small-cap shares when you could invest in well-known, industry-leading companies, sleep well at night and watch your portfolio steadily grow?...
GE tumbles 8 percent on financial worry
General Electric Co shares tumbled for a second straight trading day on Monday, hitting a five-year low as investors scrambled to reduce their exposure to the financial sector following the bankruptcy of Lehman Brothers Holdings Inc...
GE shares hit new five-year low on financial jitters
The Fairfield, Conn., conglomerate operates one of the largest financial-services companies in the U.S., making up about 45% of its overall business, with the rest coming from its industrial products and services side. Shares plunged nearly 10% in early trading to bottom at $22.16, its lowest point since March 2003. Later in the morning, however, the stock rose back to $25 on word the U.S. government may consider funding for AIG to help keep the insurer solvent...
GE shares slide for 3rd consecutive session
Shares of General Electric Co. opened lower Tuesday, extending a losing streak for a third consecutive session. Shares closed down 5 percent Friday as worries about the financial sector added to fears about GE's inability to sell its private-label credit card business...
GE shares down, CEO sees no need to panic
General Electric Co shares tumbled 6.6 percent on Wednesday, even as the conglomerate's chief executive said people should be "concerned but not panicked" about the financial crisis. GE has lost about 17 percent of its market value, or $46.7 billion, over the past week, as the bankruptcy of investment bank Lehman Brothers Holdings Inc and a U.S. government bailout of insurer American International Group Inc spooked investors....
GE's slide continues on financial unit worries
Shares of General Electric Co. dropped 9 percent Wednesday, hurt by investor worries about its financial services unit amid the global credit crisis. Analyst C. Stephen Tusa Jr. of JPMorgan said in an investor note Wednesday that he expects GE's finance business to decline by between 5 percent and 10 percent next year. He previously said growth would be flat, but now says that estimate "looks unrealistic."...
Analyst: GE doesn't need to sell credit unit
An analyst at Stern, Agee & Leach Inc. said that General Electric Co. does not need to sell its private label credit card business given the market's instability. Shares of General Electric, which hit a 5-year low Tuesday, have come under pressure in recent days as investors worried that earnings at its GE Capital unit could face the same challenges as other financial services firms...
GE shares reverse slide
Shares of General Electric Co. traded higher Tuesday, reversing a two-day losing streak.
Shares closed down 5 percent Friday as worries about the financial sector added to fears about GE's inability to sell its private-label credit card business....
Recent News: Stock Performance
GE tumbles as investors fret over financial stocks
Shares of General Electric Co. fell 7.5 percent Monday, extending their Friday declines on fears that its financial business would be hit by the collapse of Lehman Brothers and shakiness at other banks. Lehman Brothers Holdings Inc. has filed for Chapter 11 bankruptcy protection while Merrill Lynch & Co agreed to sell itself to Bank of America Corp. in an all-stock transaction worth about $50 billion to avoid more losses....
GE Sinks Over GE Capital Worries
THE FINANCIAL STORM TODAY is engulfing General Electric (ticker: GE), whose shares are off $1.71 to $25.04, as investors worry about higher funding costs at GE Capital Services and asset-quality issues at the finance unit. A key problem for GE is that GE Capital is an enormous borrower with some $540 billion of debt outstanding at the end of the second quarter. With GE Capital credit-default swaps trading at about 3 percentage points today, double recent levels, the company's financing costs may soon rise, squeezing profit margins....
GE tumbles on financial worry
General Electric Co. shares tumbled for a second straight trading day on Monday to a five-year low as investors scrambled to reduce their exposure to the financial sector following the bankruptcy of Lehman Brothers Holdings Inc. The decline of 5 percent on the day pushed GE's market capitalization to $251.5 billion, $1 billion above that of Microsoft Corp the third largest U.S. company by market capitalization....
Shares of General Electric Co. fell 7.5 percent Monday, extending their Friday declines on fears that its financial business would be hit by the collapse of Lehman Brothers and shakiness at other banks. Lehman Brothers Holdings Inc. has filed for Chapter 11 bankruptcy protection while Merrill Lynch & Co agreed to sell itself to Bank of America Corp. in an all-stock transaction worth about $50 billion to avoid more losses....
GE Sinks Over GE Capital Worries
THE FINANCIAL STORM TODAY is engulfing General Electric (ticker: GE), whose shares are off $1.71 to $25.04, as investors worry about higher funding costs at GE Capital Services and asset-quality issues at the finance unit. A key problem for GE is that GE Capital is an enormous borrower with some $540 billion of debt outstanding at the end of the second quarter. With GE Capital credit-default swaps trading at about 3 percentage points today, double recent levels, the company's financing costs may soon rise, squeezing profit margins....
GE tumbles on financial worry
General Electric Co. shares tumbled for a second straight trading day on Monday to a five-year low as investors scrambled to reduce their exposure to the financial sector following the bankruptcy of Lehman Brothers Holdings Inc. The decline of 5 percent on the day pushed GE's market capitalization to $251.5 billion, $1 billion above that of Microsoft Corp the third largest U.S. company by market capitalization....
Monday, September 15, 2008
GE Letter to Investors (09/14/2008)
From: Trevor A. Schauenberg, Vice President, Corporate Investor Communications
"In response to questions we received on Friday and because of the extraordinary market conditions, we wanted to provide our investors with additional information on GE’s financial services businesses..."
Click here to read the entire letter... (PDF)
"In response to questions we received on Friday and because of the extraordinary market conditions, we wanted to provide our investors with additional information on GE’s financial services businesses..."
Click here to read the entire letter... (PDF)
Recent News: Stock Performance, Lehman Bankruptcy, and China Headquarters
Citi Maintains 'Hold' Rating on General Electric (GE), Sees Risk to Earnings
Citi analyst says, "The collapse of Bear Stearns in late Q1 contributed to GE's Q1 earnings miss and now the late Q3 failure of Lehman Bros. and struggles at AIG are causing concerns about another GE miss. GE does need to continue selling real estate to make its H2 guidance, but re-affirmed its Real Estate guidance last night. However...
GE tumbles as investors fret over financial stocks
Shares of General Electric Co. fell 6.5 percent Monday, extending their Friday declines on fears that its financial business would be hit by the collapse of Lehman Brothers and shakiness at other banks...
GE Capital's CDS spreads widen 139 bps-Markit
The cost of protecting General Electric Capital's debt with credit default swaps surged on Monday after the bankruptcy of Lehman Brothers...
GE seeks to reassure investors
General Electric Co. said its financial services units didn't need to raise external capital, affirmed its profit forecast for the commercial real estate unit and said its consumer-finance division, GE Money, had "adequate reserves."Profit at the finance units, collectively known as GE Capital, was $5.2 billion in the first half of 2008, General Electric said in a memo posted on its website in an effort to reassure investors amid "extraordinary market conditions."...
GE to launch 5 regional headquarters in China
The U.S. giant now operates two regional headquarters in Shanghai and Beijing. The new locations will be in Shenyang, Wuhan, Chengdu, Xi'an and Guangzhou -- provincial capitals in the country's northeast, central, southwest, northwest and south, according to Chen Xiangli, president of China Technology Center under GE...
Citi analyst says, "The collapse of Bear Stearns in late Q1 contributed to GE's Q1 earnings miss and now the late Q3 failure of Lehman Bros. and struggles at AIG are causing concerns about another GE miss. GE does need to continue selling real estate to make its H2 guidance, but re-affirmed its Real Estate guidance last night. However...
GE tumbles as investors fret over financial stocks
Shares of General Electric Co. fell 6.5 percent Monday, extending their Friday declines on fears that its financial business would be hit by the collapse of Lehman Brothers and shakiness at other banks...
GE Capital's CDS spreads widen 139 bps-Markit
The cost of protecting General Electric Capital's debt with credit default swaps surged on Monday after the bankruptcy of Lehman Brothers...
GE seeks to reassure investors
General Electric Co. said its financial services units didn't need to raise external capital, affirmed its profit forecast for the commercial real estate unit and said its consumer-finance division, GE Money, had "adequate reserves."Profit at the finance units, collectively known as GE Capital, was $5.2 billion in the first half of 2008, General Electric said in a memo posted on its website in an effort to reassure investors amid "extraordinary market conditions."...
GE to launch 5 regional headquarters in China
The U.S. giant now operates two regional headquarters in Shanghai and Beijing. The new locations will be in Shenyang, Wuhan, Chengdu, Xi'an and Guangzhou -- provincial capitals in the country's northeast, central, southwest, northwest and south, according to Chen Xiangli, president of China Technology Center under GE...
ONN Sidewinder Video Report: General Electric Co. (GE)
Video Report from the CBOE on GE Options
The Sidewinder Report, is a daily options news program on www.onn.tv, recorded live on the floor of the Chicago Board Options Exchange.
The Sidewinder Report, is a daily options news program on www.onn.tv, recorded live on the floor of the Chicago Board Options Exchange.
Of Interest: Lehman Brothers file Chapter 11 - Markets Fall
Markets in turmoil by Lehman failure and Merrill sale
Global markets plummeted on Monday after investment bank Lehman Brothers filed for bankruptcy protection, rival Merrill Lynch agreed to be taken over and the Federal Reserve threw a life line to the battered financial industry.
As a deepening crisis took new, bigger victims, The U.S. Federal Reserve said for the first time it would accept stocks in exchange for cash loans and 10 of the world's top banks agreed to establish a $70 billion emergency fund, with any one of them able to tap up to a third of that.
On a black Sunday for Wall Street, frantic attempts to find a rescuer for Lehman failed, and troubled insurer American International Group asked the Fed for a lifeline, according to news reports.
Global markets plummeted on Monday after investment bank Lehman Brothers filed for bankruptcy protection, rival Merrill Lynch agreed to be taken over and the Federal Reserve threw a life line to the battered financial industry.
As a deepening crisis took new, bigger victims, The U.S. Federal Reserve said for the first time it would accept stocks in exchange for cash loans and 10 of the world's top banks agreed to establish a $70 billion emergency fund, with any one of them able to tap up to a third of that.
On a black Sunday for Wall Street, frantic attempts to find a rescuer for Lehman failed, and troubled insurer American International Group asked the Fed for a lifeline, according to news reports.
Recent News: Stock Performance, Ex-GE Worker was a spy, and Dividends
GE (GE) Down 6%: Nothing Is Sacred
Wall St. might make the argument that GE (GE) has more exposure to the credit markets than most huge companies because of its financial division. But, the current hammering of the shares may have gotten out of hand....
GE Falls Most Since April, Dragged by Lehman, AIG
General Electric Co. fell the most in New York trading since cutting its annual forecast five months ago, dragged down by financial stocks including American International Group Inc. and Lehman Brothers Holdings Inc. ...
Movers roundup: Panera Bread, GE
Shares of General Electric Co. fell 5 percent Friday, which an analyst attributed to nervousness at the conglomerate's inability to sell its private-label credit card business....
Ex-GE worker admits he was a spy
A former Schenectady man involved in the most famous espionage case of the 20th century has for the first time acknowledged giving military information to the Soviet Union, according to Thursday’s New York Times....
Dividend growth power
Venerable blue-chip companies such as General Electric and Boeing deserve your attention — for their dividends...
GE slides on worries over credit card unit sale
Shares of General Electric Co. fell 5 percent Friday, which an analyst attributed to nervousness at the conglomerate's inability to sell its private-label credit card business...
Wall St. might make the argument that GE (GE) has more exposure to the credit markets than most huge companies because of its financial division. But, the current hammering of the shares may have gotten out of hand....
GE Falls Most Since April, Dragged by Lehman, AIG
General Electric Co. fell the most in New York trading since cutting its annual forecast five months ago, dragged down by financial stocks including American International Group Inc. and Lehman Brothers Holdings Inc. ...
Movers roundup: Panera Bread, GE
Shares of General Electric Co. fell 5 percent Friday, which an analyst attributed to nervousness at the conglomerate's inability to sell its private-label credit card business....
Ex-GE worker admits he was a spy
A former Schenectady man involved in the most famous espionage case of the 20th century has for the first time acknowledged giving military information to the Soviet Union, according to Thursday’s New York Times....
Dividend growth power
Venerable blue-chip companies such as General Electric and Boeing deserve your attention — for their dividends...
GE slides on worries over credit card unit sale
Shares of General Electric Co. fell 5 percent Friday, which an analyst attributed to nervousness at the conglomerate's inability to sell its private-label credit card business...
Saturday, September 13, 2008
Recent News: NBC Super Bowl Ads and Stock Performance
NBC Manages to Rack Up Strong Sales on Super Bowl Marketers may be tightening their belts amid the economic downturn, but you'd never know it from the sale of Super Bowl ads. The National Football League season is only a week old, but General Electric's NBC Universal says it has already sold about 85% of the available spots, up from the 60% that is standard this time of year. The robust sales pace comes despite an estimated 10% price increase from the last Super Bowl, and NBC says there are only about 10 spots left...
General Electric (GE) PriceWatch Alert for September 15, 2008
General Electric (NYSE: GE) ended the last trading session at $26.75. So far the stock has hit a 52-week low of $25.60 and 52-week high of $42.15. General Electric stock has been showing support around 25.53 and resistance in the 28.35 range. Technical indicators for the stock are Bearish and S&P gives GE a positive 4 STAR (out of 5) buy rating. GE appears on the Investors Observer Analysts Favorites list. For a hedged play on this stock, look at a Mar '09 27 covered call (GEW CA) for a net debit in the $24.40 area. That is also the break even stock price for this trade...
GE shares down 5 percent amid financial sector worry
General Electric Co shares fell 5 percent on Friday, as investors worried that turmoil in the financial sector would take a toll on the conglomerate.
The shares of the second-largest company by market capitalization were down $1.46 to $26.70 in late afternoon trading on the New York Stock Exchange. Earlier, they had been as low as $26.33....
GE slides on worries over credit card unit sale
Shares of General Electric Co. fell more than 6 percent Friday, which an analyst attributed to nervousness at the conglomerate's inability to sell its private-label credit card business. Analyst Nicholas Heymann of Sterne Agee in New York said in a phone interview that investors believed GE would sell its credit card business this summer....
General Electric (GE) PriceWatch Alert for September 15, 2008
General Electric (NYSE: GE) ended the last trading session at $26.75. So far the stock has hit a 52-week low of $25.60 and 52-week high of $42.15. General Electric stock has been showing support around 25.53 and resistance in the 28.35 range. Technical indicators for the stock are Bearish and S&P gives GE a positive 4 STAR (out of 5) buy rating. GE appears on the Investors Observer Analysts Favorites list. For a hedged play on this stock, look at a Mar '09 27 covered call (GEW CA) for a net debit in the $24.40 area. That is also the break even stock price for this trade...
GE shares down 5 percent amid financial sector worry
General Electric Co shares fell 5 percent on Friday, as investors worried that turmoil in the financial sector would take a toll on the conglomerate.
The shares of the second-largest company by market capitalization were down $1.46 to $26.70 in late afternoon trading on the New York Stock Exchange. Earlier, they had been as low as $26.33....
GE slides on worries over credit card unit sale
Shares of General Electric Co. fell more than 6 percent Friday, which an analyst attributed to nervousness at the conglomerate's inability to sell its private-label credit card business. Analyst Nicholas Heymann of Sterne Agee in New York said in a phone interview that investors believed GE would sell its credit card business this summer....
Friday, September 12, 2008
Recent News: India Acquisitions
GE eyes acquisitions in India
New Delhi, Sept. 10 General Electric Co (GE) is scouting for acquisitions to scale up its presence in India. The diversified engineering and services major is looking across a gamut of sectors for opportunities to acquire firms, especially the core infrastructure, healthcare and the media space. “We are looking across the board for opportunities (for acquisitions). Core infrastructure is definitely an area where we are evaluating options, while healthcare, and media space could also be other possible areas,” Mr Tejpreet S. Chopra, President and Chief Executive Officer, GE (India), told Business Line. He said the targets could include suppliers and customers in these sectors...
General Electric scouts for acquisitions in India
General Electric (GE) is eyeing for acquisitions to increase its presence in India. The diversified engineering and services major is looking across a gamut of sectors for opportunities to acquire firms, especially the core infrastructure, healthcare and the media space, reports Business Line...
New Delhi, Sept. 10 General Electric Co (GE) is scouting for acquisitions to scale up its presence in India. The diversified engineering and services major is looking across a gamut of sectors for opportunities to acquire firms, especially the core infrastructure, healthcare and the media space. “We are looking across the board for opportunities (for acquisitions). Core infrastructure is definitely an area where we are evaluating options, while healthcare, and media space could also be other possible areas,” Mr Tejpreet S. Chopra, President and Chief Executive Officer, GE (India), told Business Line. He said the targets could include suppliers and customers in these sectors...
General Electric scouts for acquisitions in India
General Electric (GE) is eyeing for acquisitions to increase its presence in India. The diversified engineering and services major is looking across a gamut of sectors for opportunities to acquire firms, especially the core infrastructure, healthcare and the media space, reports Business Line...
Thursday, September 11, 2008
Recent News: Apple iTunes and NBCU Programs, Google, GE Oil and Gas, and EPA / Housatonic River
Apple ends beef with NBC over iTunes shows
Apple Inc. has lured the NBC television network back to the iTunes online media service. This ends a year of acrimony over the prices Apple charges for shows it sells over iTunes...
You Don't Really Understand Google
lot of people think that Google lives and dies with online success alone, and that this state of affairs will never change. I hate to have to tell you this, but you're all wrong.
The Wall Street Journal supports my position today by lifting the veil of secrecy from an advertising deal between Mountain View and General Electric's NBC Universal unit. No, Google isn't going to carpet-bomb the Sci-Fi Channel and CNBC with obnoxious brand-builder ads, the way Yahoo! yodeled all over your TV a decade ago. This deal goes the other way....
GE Oil & Gas wins 100 mln usd contract for China's 2nd West-to-East gas pipeline
GE Oil & Gas, a unit of US-based General Electric, said it won a 100 mln usd contract to provide pipeline compression equipment for China's second West-to-East natural gas transmission pipeline...
EPA says GE cleanup plan for Housatonic inadequate
The EPA has criticized General Electric Co.'s cleanup plan for a stretch of the Housatonic River south of Pittsfield....
Apple Inc. has lured the NBC television network back to the iTunes online media service. This ends a year of acrimony over the prices Apple charges for shows it sells over iTunes...
You Don't Really Understand Google
lot of people think that Google lives and dies with online success alone, and that this state of affairs will never change. I hate to have to tell you this, but you're all wrong.
The Wall Street Journal supports my position today by lifting the veil of secrecy from an advertising deal between Mountain View and General Electric's NBC Universal unit. No, Google isn't going to carpet-bomb the Sci-Fi Channel and CNBC with obnoxious brand-builder ads, the way Yahoo! yodeled all over your TV a decade ago. This deal goes the other way....
GE Oil & Gas wins 100 mln usd contract for China's 2nd West-to-East gas pipeline
GE Oil & Gas, a unit of US-based General Electric, said it won a 100 mln usd contract to provide pipeline compression equipment for China's second West-to-East natural gas transmission pipeline...
EPA says GE cleanup plan for Housatonic inadequate
The EPA has criticized General Electric Co.'s cleanup plan for a stretch of the Housatonic River south of Pittsfield....
Recent News: China, Google TV Ads, Duke Energy Wind, US Navy Contract, GE Pipeline, Saudi Air Force, MSNBC Keith Olberman and Jeffery Immelt
New Look General Electric Aims to Double its China Business by the Decade’s End
General Electric Co. expects its business in China to double to $10 billion a year by 2010, as the U.S. industrial giant aims to overcome a sputtering U.S. economy by ramping up its emerging-markets focus...
NBC Universal in pact for Google to sell its TV ads
NBC Universal, a unit of General Electric Co, is teaming up with Google Inc on a multi-year partnership in which Google will act as a broker to sell TV advertising on some NBC cable channels. In a joint statement, the two companies said NBC Universal will offer advertising time from several of its cable networks for Google to sell advertising through its Google TV Ads service.
Google to broker ads for cable TV channels
Financial terms of the deal were not disclosed. Google said in a prepared statement that its TV Ads platform will begin selling inventory for channels including Oxygen, CNBC, Sci Fi, Sleuth and Chiller "in the coming months, with potential to expand onto other NBCU properties in the future."...
Duke Energy Buys GE Wind Turbines For Undisclosed Sum
Duke Energy Corp. (DUK), said it agreed to buy 100 wind turbines from General Electric Co. (GE) for an undisclosed sum. Duke, which has been investing in its wind-energy business, also announced a long-term agreement to sell 99 megawatts of electricity from its new Wyoming wind farm. Terms of the deal weren't disclosed....
General Electric gets $120.2M Navy deal
A division of General Electric Co. received a $120.2 million contract boost from the Naval Air Systems Command. The contract covers 30 engines for the F/A-18E/F aircraft, plus 24 devices kits and 19 various modules for the Royal Australian Air Force, the Pentagon said late Monday....
GE Oil & Gas' PII Pipeline Solutions Division Signs Pipeline Integrity Services Distribution Agreement In Colombia
GE Oil & Gas' PII Pipeline Solutions division has signed a pipeline integrity services distributor agreement with Tecnicontrol S.A., in Colombia, as part of GE's strategy to strengthen its pipeline integrity services in South America....
Saudi Air Force adds to GE Aviation engine order
The Royal Saudi Air Force has added 91 F110-GE-129C engines to a previous order for its military aircraft, GE Aviation said Tuesday. With the latest order, the Saudis plan to upgrade 41 twin-engine Boeing F-15S aircraft, according to a news release. They had previously ordered 65 F110 engines to upgrade 29 of the aircraft...
MSNBC Bags "Fighting Anchors" Strategy, Dumps Olbermann And Matthews
Keith Olbermann and Chris Matthews, MSNBC's on-air political duo covering this year's primaries, debates and conventions, have never had the best on-air rapport. But at the Democratic National Convention, the animosity had reached a boiling point (see video below), so MSNBC decided to replace their contentious duo with seasoned and seemingly even-tempered political reporter: David Gregory...
Did GE CEO Jeff Immelt Order Keith Olbermann Demotion?
Rumor has it that GE CEO Jeff Immelt personally ordered MSNBC to remove Keith Olbermann after a host of shareholder complaints—a charge NBC and Olbermann deny...
General Electric Co. expects its business in China to double to $10 billion a year by 2010, as the U.S. industrial giant aims to overcome a sputtering U.S. economy by ramping up its emerging-markets focus...
NBC Universal in pact for Google to sell its TV ads
NBC Universal, a unit of General Electric Co, is teaming up with Google Inc on a multi-year partnership in which Google will act as a broker to sell TV advertising on some NBC cable channels. In a joint statement, the two companies said NBC Universal will offer advertising time from several of its cable networks for Google to sell advertising through its Google TV Ads service.
Google to broker ads for cable TV channels
Financial terms of the deal were not disclosed. Google said in a prepared statement that its TV Ads platform will begin selling inventory for channels including Oxygen, CNBC, Sci Fi, Sleuth and Chiller "in the coming months, with potential to expand onto other NBCU properties in the future."...
Duke Energy Buys GE Wind Turbines For Undisclosed Sum
Duke Energy Corp. (DUK), said it agreed to buy 100 wind turbines from General Electric Co. (GE) for an undisclosed sum. Duke, which has been investing in its wind-energy business, also announced a long-term agreement to sell 99 megawatts of electricity from its new Wyoming wind farm. Terms of the deal weren't disclosed....
General Electric gets $120.2M Navy deal
A division of General Electric Co. received a $120.2 million contract boost from the Naval Air Systems Command. The contract covers 30 engines for the F/A-18E/F aircraft, plus 24 devices kits and 19 various modules for the Royal Australian Air Force, the Pentagon said late Monday....
GE Oil & Gas' PII Pipeline Solutions Division Signs Pipeline Integrity Services Distribution Agreement In Colombia
GE Oil & Gas' PII Pipeline Solutions division has signed a pipeline integrity services distributor agreement with Tecnicontrol S.A., in Colombia, as part of GE's strategy to strengthen its pipeline integrity services in South America....
Saudi Air Force adds to GE Aviation engine order
The Royal Saudi Air Force has added 91 F110-GE-129C engines to a previous order for its military aircraft, GE Aviation said Tuesday. With the latest order, the Saudis plan to upgrade 41 twin-engine Boeing F-15S aircraft, according to a news release. They had previously ordered 65 F110 engines to upgrade 29 of the aircraft...
MSNBC Bags "Fighting Anchors" Strategy, Dumps Olbermann And Matthews
Keith Olbermann and Chris Matthews, MSNBC's on-air political duo covering this year's primaries, debates and conventions, have never had the best on-air rapport. But at the Democratic National Convention, the animosity had reached a boiling point (see video below), so MSNBC decided to replace their contentious duo with seasoned and seemingly even-tempered political reporter: David Gregory...
Did GE CEO Jeff Immelt Order Keith Olbermann Demotion?
Rumor has it that GE CEO Jeff Immelt personally ordered MSNBC to remove Keith Olbermann after a host of shareholder complaints—a charge NBC and Olbermann deny...
Monday, September 8, 2008
Recent News: Iraq Power Plants, GE Lawsuit, CIT Aerospace Order, and Accounting Investigation
Talks with GE on power plants in Iraq
Talks are starting on Saturday between the Iraqi electricity ministry and the U.S. company General Electric (GE) on providing Iraq with power plants that could produce 4-6,000 megawatt of electric power in a first stage, a ministry spokesman said.
"A delegation under Electricity Minister Kareem Waheed left Iraq on Friday heading for Amman, Jordan, for a meeting today on the first round of talks with GE pertaining to a contract to install power plants in Iraq," Aziz Sultan said in statements to Aswat al-Iraq - Voices of Iraq - (VOI)....
General Electric Faces Lawsuit From Investors
Friday evening, Scott & Scott LLP filed a lawsuit against General Electric (NYSE: GE) relating to inaccurate reports of financial earnings information in their first quarter of 2008. According to investors GE has violated the Securities Exchange Act of 1934. The suit charges that GE reported 10% earnings per share in the first quarter of 2008 instead of the actual loss of 2%...
CIT Aerospace places $320M order with GE Aviation, CFM
Aircraft financing firm CIT Aerospace has tapped GE Aviation and CFM International for $320 million in engine orders the companies said Monday. CIT will purchase CFM’s CFM56-5B engine to power 15 Airbus A320 aircraft, and GE’s CF6-80E1 engine to power four Airbus A330 aircraft. The CFM engine order, worth about $200 million at list price...
Will GE Hedge Accounting Pass Muster?
General Electric said it faces possible civil action by the Securities and Exchange Commission stemming from an investigation into its use of hedge accounting for derivatives. The conglomerate said in a regulatory filing released on Friday that the SEC staff issued a "Wells notice" recommending that the commission considers bringing a civil injunctive action against GE for possible violations of securities laws....
Talks are starting on Saturday between the Iraqi electricity ministry and the U.S. company General Electric (GE) on providing Iraq with power plants that could produce 4-6,000 megawatt of electric power in a first stage, a ministry spokesman said.
"A delegation under Electricity Minister Kareem Waheed left Iraq on Friday heading for Amman, Jordan, for a meeting today on the first round of talks with GE pertaining to a contract to install power plants in Iraq," Aziz Sultan said in statements to Aswat al-Iraq - Voices of Iraq - (VOI)....
General Electric Faces Lawsuit From Investors
Friday evening, Scott & Scott LLP filed a lawsuit against General Electric (NYSE: GE) relating to inaccurate reports of financial earnings information in their first quarter of 2008. According to investors GE has violated the Securities Exchange Act of 1934. The suit charges that GE reported 10% earnings per share in the first quarter of 2008 instead of the actual loss of 2%...
CIT Aerospace places $320M order with GE Aviation, CFM
Aircraft financing firm CIT Aerospace has tapped GE Aviation and CFM International for $320 million in engine orders the companies said Monday. CIT will purchase CFM’s CFM56-5B engine to power 15 Airbus A320 aircraft, and GE’s CF6-80E1 engine to power four Airbus A330 aircraft. The CFM engine order, worth about $200 million at list price...
Will GE Hedge Accounting Pass Muster?
General Electric said it faces possible civil action by the Securities and Exchange Commission stemming from an investigation into its use of hedge accounting for derivatives. The conglomerate said in a regulatory filing released on Friday that the SEC staff issued a "Wells notice" recommending that the commission considers bringing a civil injunctive action against GE for possible violations of securities laws....
Sunday, September 7, 2008
Recent News: Accounting Probe / Wells Notice
Wells notice (Cornell University Law School)
A "Wells Notice" is a letter sent by a securities regulator to a prospective respondent, notifying him of the substance of charges that the regulator intends to bring against the respondent, and affording the respondent with the opportunity to submit a written statement to the ultimate decision maker.
There is no legal requirement for a regulator to provide a Wells Notice, however it is the practice of the SEC and the NASD to provide such notice. Procedurally, the SEC and NASD Staff (the people you are dealing with during the investigation) do not have the authority to commence proceedings. They need to obtain approval to commence proceedings. The approval process is handled without any input from the prospective defendant.
While there is no rule or regulation that requires that a prospective defendant be given the opportunity to address the decision maker prior to the filing of an action, in 1972, SEC Chairman William J. Casey appointed a committee (chaired by John Wells and commonly referred to as the “Wells Committee”) to review and evaluate the Commission's enforcement policies and practices.
GE may face civil action on securities violations
General Electric Co. said Friday it has been informed that the Securities and Exchange Commission may recommend fines and other action for possible violations of securities law related to accounting changes the company made. GE said in a regulatory filing that the notification, called a "Wells notice," is related to issues dating to several years ago concerning GE's accounting for certain derivatives used for hedging interest rate risk and other transactions....
GE gets "Wells notice" in SEC accounting probe
General Electric Co said on Friday it had been notified by U.S. regulators that a civil complaint could be filed against the company following a more than three-year-long probe into its use of hedge accounting for derivatives and other accounting matters....
SEC Weighs GE Civil Charges
General Electric Co. said it received a Wells notice that staffers at the Securities and Exchange Commission are considering recommending the SEC file civil charges in a long-running probe of GE's accounting....
GE says SEC probing possible securities violations
General Electric Co. says the Securities and Exchange Commission staff has notified the company it may recommend fines and other action for possible violations of securities laws.
GE said Friday that the notification concerns issues from several years ago over its accounting for derivatives formerly used to hedge the risk of interest-rate changes related to commercial paper and derivatives in which a fee was a part of the consideration for the derivative....
GE Says SEC May File Civil Case in Accounting Probe (Update2)
General Electric Co. said the U.S. Securities and Exchange Commission plans to recommend a civil complaint against the company in a three-year-old probe that includes the way it recognizes revenue and presents cash flow. The SEC staff issued a so-called Wells notice yesterday, GE said in a regulatory filing after the close of U.S. markets today. Wells notices typically give the recipient an opportunity to dissuade the SEC from proceeding. GE, the world's third- biggest company by market value, is in preliminary settlement discussions with the agency, spokesman Russell Wilkerson said....
A "Wells Notice" is a letter sent by a securities regulator to a prospective respondent, notifying him of the substance of charges that the regulator intends to bring against the respondent, and affording the respondent with the opportunity to submit a written statement to the ultimate decision maker.
There is no legal requirement for a regulator to provide a Wells Notice, however it is the practice of the SEC and the NASD to provide such notice. Procedurally, the SEC and NASD Staff (the people you are dealing with during the investigation) do not have the authority to commence proceedings. They need to obtain approval to commence proceedings. The approval process is handled without any input from the prospective defendant.
While there is no rule or regulation that requires that a prospective defendant be given the opportunity to address the decision maker prior to the filing of an action, in 1972, SEC Chairman William J. Casey appointed a committee (chaired by John Wells and commonly referred to as the “Wells Committee”) to review and evaluate the Commission's enforcement policies and practices.
GE may face civil action on securities violations
General Electric Co. said Friday it has been informed that the Securities and Exchange Commission may recommend fines and other action for possible violations of securities law related to accounting changes the company made. GE said in a regulatory filing that the notification, called a "Wells notice," is related to issues dating to several years ago concerning GE's accounting for certain derivatives used for hedging interest rate risk and other transactions....
GE gets "Wells notice" in SEC accounting probe
General Electric Co said on Friday it had been notified by U.S. regulators that a civil complaint could be filed against the company following a more than three-year-long probe into its use of hedge accounting for derivatives and other accounting matters....
SEC Weighs GE Civil Charges
General Electric Co. said it received a Wells notice that staffers at the Securities and Exchange Commission are considering recommending the SEC file civil charges in a long-running probe of GE's accounting....
GE says SEC probing possible securities violations
General Electric Co. says the Securities and Exchange Commission staff has notified the company it may recommend fines and other action for possible violations of securities laws.
GE said Friday that the notification concerns issues from several years ago over its accounting for derivatives formerly used to hedge the risk of interest-rate changes related to commercial paper and derivatives in which a fee was a part of the consideration for the derivative....
GE Says SEC May File Civil Case in Accounting Probe (Update2)
General Electric Co. said the U.S. Securities and Exchange Commission plans to recommend a civil complaint against the company in a three-year-old probe that includes the way it recognizes revenue and presents cash flow. The SEC staff issued a so-called Wells notice yesterday, GE said in a regulatory filing after the close of U.S. markets today. Wells notices typically give the recipient an opportunity to dissuade the SEC from proceeding. GE, the world's third- biggest company by market value, is in preliminary settlement discussions with the agency, spokesman Russell Wilkerson said....
Recent News: LinkedIn CNBC, GE Stock v. Market, Theolia Wind Farm, Assurant, Profit, and GE Aviation
LinkedIn lands CNBC deal
CNBC has entered into an alliance with LinkedIn under which the financial news channel will air content generated by the professional networking site's 27 million members. CNBC, which is part of General Electric Co, will integrate LinkedIn's networking functionality into its website CNBC.com, enabling users to share and discuss news with their professional contacts....
GE stock: It's good, but it's riskier than the S&P 500
With its hands in everything from aircraft engine manufacturing to TV broadcasting, General Electric may seem like a slice of American business. And from a basic point of view, there's some truth to that. The company is involved in many sectors of the economy from finance to media to manufacturing. But don't think that by owning GE you've diversified your portfolio as much as by buying a diversified mutual fund...
Theolia's Wind Farm Flop
Shares of French wind-energy firm Theolia, which is partly owned by General Electric, dropped 8.6%, or 1.21 euros ($1.74), to 12.84 euros ($18.51), during morning trading in Paris on Wednesday. Theolia announced a hefty loss of 25.3 million euros ($36.5 million) for the first half of 2008 on Wednesday, slashing its full-year profitability...
Analysts say Assurant's GE deal 'a natural fit'
Shares of Assurant Inc. ticked higher Friday, after the New York-based insurer announced plans to acquire General Electric Cos warranty management group, which sells warranties for major appliances and consumer electronics. Shares gained $1.43, or 2.5 percent, to $58.41. The stock has fallen 18 percent since peaking at a 52-week high of $71.31 in July and is down about 13 percent so far this year....
GE upbeat in spite of just 1% profit rise
GENERAL Electric, the world’s largest company in terms of market value, has reported a rise in first-quarter profits of just one per cent, but said it was still on target for double-digit growth in 2005. The United States conglomerate, whose businesses range from aircraft engines to financial services, said earnings for the three months to the end of March rose to £1.77 billion, up from £1.75bn for the same period last year....
GE Aviation May Expand In Pinellas
General Electric's aviation unit is looking to expand operations in Pinellas County, a move that could bring new jobs to the area. GE spokeswoman Jennifer Villarreal confirmed Friday that the company has been seeking a location for expansion in Pinellas County and expects to make a decision on a site within a month. She declined to be specific about potential location sites in the county or job creation....
CNBC has entered into an alliance with LinkedIn under which the financial news channel will air content generated by the professional networking site's 27 million members. CNBC, which is part of General Electric Co, will integrate LinkedIn's networking functionality into its website CNBC.com, enabling users to share and discuss news with their professional contacts....
GE stock: It's good, but it's riskier than the S&P 500
With its hands in everything from aircraft engine manufacturing to TV broadcasting, General Electric may seem like a slice of American business. And from a basic point of view, there's some truth to that. The company is involved in many sectors of the economy from finance to media to manufacturing. But don't think that by owning GE you've diversified your portfolio as much as by buying a diversified mutual fund...
Theolia's Wind Farm Flop
Shares of French wind-energy firm Theolia, which is partly owned by General Electric, dropped 8.6%, or 1.21 euros ($1.74), to 12.84 euros ($18.51), during morning trading in Paris on Wednesday. Theolia announced a hefty loss of 25.3 million euros ($36.5 million) for the first half of 2008 on Wednesday, slashing its full-year profitability...
Analysts say Assurant's GE deal 'a natural fit'
Shares of Assurant Inc. ticked higher Friday, after the New York-based insurer announced plans to acquire General Electric Cos warranty management group, which sells warranties for major appliances and consumer electronics. Shares gained $1.43, or 2.5 percent, to $58.41. The stock has fallen 18 percent since peaking at a 52-week high of $71.31 in July and is down about 13 percent so far this year....
GE upbeat in spite of just 1% profit rise
GENERAL Electric, the world’s largest company in terms of market value, has reported a rise in first-quarter profits of just one per cent, but said it was still on target for double-digit growth in 2005. The United States conglomerate, whose businesses range from aircraft engines to financial services, said earnings for the three months to the end of March rose to £1.77 billion, up from £1.75bn for the same period last year....
GE Aviation May Expand In Pinellas
General Electric's aviation unit is looking to expand operations in Pinellas County, a move that could bring new jobs to the area. GE spokeswoman Jennifer Villarreal confirmed Friday that the company has been seeking a location for expansion in Pinellas County and expects to make a decision on a site within a month. She declined to be specific about potential location sites in the county or job creation....
Thursday, September 4, 2008
Recent News: NBC, Blue Chips, and Nuke Deal
General Electric (GE) NewsBite - GE Not Ready to Give Up NBC
General Electric (NYSE: GE) opened at $28.54. So far today, the stock has hit a low of $28.53 and a high of $28.95. GE is now trading at $28.94, up $0.84 (2.98%). Over the last 52 weeks the stock has ranged from a low of $25.60 to a high of $42.15. Shares of GE are trading higher this morning on news that company CEO Jeffrey Immelt has said that he will not sell the company's...
Survival Bets on Blue Chips
It is hard to recall a time when the shares of so many onetime U.S. stock market stalwarts have come to resemble little more than options on survivability. But investors -- for the most part quite rightly -- seem to have thrown aside the fundamental measures that not so long ago underpinned the value of these now-faded blue chips...
General Electric likely to hold onto NBC - Vivendi CEO
General Electric (NYSE: GE - option chain) shares are soaring higher today due to a number of factors such as sinking oil futures, but also on comments from Vivendi CEO Jean-Bernard Levy. Levy said in an interview with the Financial Times that he has heard GE CEO Jeffrey Immelt say several times both privately and publicly that GE has no intention of selling its 80% of NBC Universal. Levy may have more information that the average investor on this matter since Vivendi owns the remaining 20% of NBC...
General Electric concerned over time constraints for nuke deal
A delayed Nuclear Suppliers Group (NSG) approval for the Indo-US nuke deal could be bad news for US reactor manufacturers eyeing the Indian atomic power space. With opposition within the 45-member NSG for an India-specific waiver refusing to die down, US companies run the risk of losing out on the first set of contracts on offer in India to potential competitors from other countries....
General Electric (NYSE: GE) opened at $28.54. So far today, the stock has hit a low of $28.53 and a high of $28.95. GE is now trading at $28.94, up $0.84 (2.98%). Over the last 52 weeks the stock has ranged from a low of $25.60 to a high of $42.15. Shares of GE are trading higher this morning on news that company CEO Jeffrey Immelt has said that he will not sell the company's...
Survival Bets on Blue Chips
It is hard to recall a time when the shares of so many onetime U.S. stock market stalwarts have come to resemble little more than options on survivability. But investors -- for the most part quite rightly -- seem to have thrown aside the fundamental measures that not so long ago underpinned the value of these now-faded blue chips...
General Electric likely to hold onto NBC - Vivendi CEO
General Electric (NYSE: GE - option chain) shares are soaring higher today due to a number of factors such as sinking oil futures, but also on comments from Vivendi CEO Jean-Bernard Levy. Levy said in an interview with the Financial Times that he has heard GE CEO Jeffrey Immelt say several times both privately and publicly that GE has no intention of selling its 80% of NBC Universal. Levy may have more information that the average investor on this matter since Vivendi owns the remaining 20% of NBC...
General Electric concerned over time constraints for nuke deal
A delayed Nuclear Suppliers Group (NSG) approval for the Indo-US nuke deal could be bad news for US reactor manufacturers eyeing the Indian atomic power space. With opposition within the 45-member NSG for an India-specific waiver refusing to die down, US companies run the risk of losing out on the first set of contracts on offer in India to potential competitors from other countries....
Monday, September 1, 2008
Recent News: Olympics, China, Locomotives, Dividend, Virgin Blue Airlines, Pickens Plan TV ad
The Rewards of Olympic Hospitality
For General Electric Co., being a big Olympic sponsor isn't only about generating revenue and buffing its public image. The Fairfield, Conn., company also sees Beijing as an exotic venue for wining and dining top-performing employees and important clients. General Electric is hosting 2,000 customers and other guests from around the world in Beijing during the Games, inviting them to meals and offering tickets to Olympic events and sightseeing trips. Chairman and Chief Executive Jeffrey Immelt and other senior executives are among those playing host, according to GE spokeswoman Deirdre Latour.
China to get first of 300 GE locomotives by end-Aug
General Electric Co said on Thursday it would deliver the first of 300 advanced locomotives to China by the end of August, with the remainder arriving by mid 2010...
GE Board Authorizes Regular Quarterly Dividend 31c
The Board of Directors of General Electric Company authorized a regular quarterly dividend of $0.31 per outstanding share of the Company's common stock. The dividend is payable October 27, 2008 to shareowners of record at the close of business on September 22, 2008. The ex-dividend date is September 18, 2008...
GE's Making All the Right Moves
Earlier this week, I wrote that with market conditions being what they are, Fools might revisit the largest U.S. company, ExxonMobil (NYSE: XOM). It therefore may seem like a systematic traipse down Market Cap Lane when I suggest that No. 2 General Electric (NYSE: GE) also deserves more than a passing gander. The past year hasn't been an especially happy one for the General. With Mr. Market anything but stable, its shares have declined by about a quarter to around $29. And if you take the time to skim the company's second-quarter earnings release...
Will Olympic Coverage Score General Electric a Gold?
Every 4 years, the greatest athletes in the world gather to put on an athletic spectacle worthy of the gods residing on Mt. Olympus, giving us the name of this athletic extravaganza: The Olympics. Many things have changed from the original Olympic Games; women are allowed to watch and compete, there are Summer and Winter Games, the competitors wear clothes, and you can watch the competition on television and via the Internet ... thanks to General Electric. Yes, General Electric – remember folks, that this conglomerate is the parent company of NBC....
GE Locates China Headquarters In Shanghai
General Electric announced that its China Technology Park in Shanghai's Zhangjiang Hi-Tech Park has been formally completed and it will become GE's headquarters in China...
GE's Olympic Score
Well, the Olympics are over, and Michael Phelps may be going home with eight gold medals, but he might as well start receiving GE dividends. The extraordinary swimmer helped to fuel Olympic mania, sending viewership of the peacock network, which is owned by conglomerate General Electric, soaring. In the end, the Beijing Olympics were the most-watched event in TV history, according to Nielsen Media Research. Olympics watching surpassed executives’ “wildest expectations” and drew in more viewers than the games in either Sydney or Athens...
Virgin Blue inks engine maintenance deal with GE
Virgin Blue inked a maintenance and overhaul agreement with GE for the Australian carrier's CFM International CFM56-7B engines...
NBC approves Pickens' "Iran" ad after complaint
NBC Universal approved an advertisement by T. Boone Pickens entitled "Iran" which questions U.S. dependence on foreign oil, after the oil tycoon complained that the network had rejected it...
For General Electric Co., being a big Olympic sponsor isn't only about generating revenue and buffing its public image. The Fairfield, Conn., company also sees Beijing as an exotic venue for wining and dining top-performing employees and important clients. General Electric is hosting 2,000 customers and other guests from around the world in Beijing during the Games, inviting them to meals and offering tickets to Olympic events and sightseeing trips. Chairman and Chief Executive Jeffrey Immelt and other senior executives are among those playing host, according to GE spokeswoman Deirdre Latour.
China to get first of 300 GE locomotives by end-Aug
General Electric Co said on Thursday it would deliver the first of 300 advanced locomotives to China by the end of August, with the remainder arriving by mid 2010...
GE Board Authorizes Regular Quarterly Dividend 31c
The Board of Directors of General Electric Company authorized a regular quarterly dividend of $0.31 per outstanding share of the Company's common stock. The dividend is payable October 27, 2008 to shareowners of record at the close of business on September 22, 2008. The ex-dividend date is September 18, 2008...
GE's Making All the Right Moves
Earlier this week, I wrote that with market conditions being what they are, Fools might revisit the largest U.S. company, ExxonMobil (NYSE: XOM). It therefore may seem like a systematic traipse down Market Cap Lane when I suggest that No. 2 General Electric (NYSE: GE) also deserves more than a passing gander. The past year hasn't been an especially happy one for the General. With Mr. Market anything but stable, its shares have declined by about a quarter to around $29. And if you take the time to skim the company's second-quarter earnings release...
Will Olympic Coverage Score General Electric a Gold?
Every 4 years, the greatest athletes in the world gather to put on an athletic spectacle worthy of the gods residing on Mt. Olympus, giving us the name of this athletic extravaganza: The Olympics. Many things have changed from the original Olympic Games; women are allowed to watch and compete, there are Summer and Winter Games, the competitors wear clothes, and you can watch the competition on television and via the Internet ... thanks to General Electric. Yes, General Electric – remember folks, that this conglomerate is the parent company of NBC....
GE Locates China Headquarters In Shanghai
General Electric announced that its China Technology Park in Shanghai's Zhangjiang Hi-Tech Park has been formally completed and it will become GE's headquarters in China...
GE's Olympic Score
Well, the Olympics are over, and Michael Phelps may be going home with eight gold medals, but he might as well start receiving GE dividends. The extraordinary swimmer helped to fuel Olympic mania, sending viewership of the peacock network, which is owned by conglomerate General Electric, soaring. In the end, the Beijing Olympics were the most-watched event in TV history, according to Nielsen Media Research. Olympics watching surpassed executives’ “wildest expectations” and drew in more viewers than the games in either Sydney or Athens...
Virgin Blue inks engine maintenance deal with GE
Virgin Blue inked a maintenance and overhaul agreement with GE for the Australian carrier's CFM International CFM56-7B engines...
NBC approves Pickens' "Iran" ad after complaint
NBC Universal approved an advertisement by T. Boone Pickens entitled "Iran" which questions U.S. dependence on foreign oil, after the oil tycoon complained that the network had rejected it...
Recent News: Blackstone, Appliances, Rail Cars, Olympics, Lobbying, GE Healthcare, Jeff Immelt: '...cable deals'
Blackstone joins China's Haier in bid for GE's appliances unit
The investment firm Blackstone is joining forces with one of China's largest consumer goods-makers in the $7bn auction of General Electric's appliances unit. Blackstone is drawing up plans to invest with Qingdao Haier, China's biggest white goods-maker, and hopes to build a global enterprise to compete with rivals such as Maytag and Electrolux...
General Electric may dump its rail car division
General Electric Co. may be close to selling its rail car leading division to GATX Corp. According to Bloomberg, GATX plans to "invest more aggressively" during a financial slowdown...
NBC sees new media habits form with Olympic games
About half of the people who are using mobile phones to pull down video or information about the Olympics have been trying out that technology for the first time, NBC said on Wednesday.
NBC Universal, a unit of General Electric Co., has been using the Olympics as something of a research lab to track the adoption of new media technology. Since the opening ceremony last Friday, the company has made content available online, through video on demand and via cell phones along with traditional TV...
General Electric spent nearly $5.4M lobbying in 2Q
General Electric Co. spent nearly $5.4 million in the second quarter lobbying on everything from patent reform to the fiscal 2009 defense spending bill, according to a disclosure report....
For Olympic Marketers, Emotions Pay
For many Olympic swimmers in Beijing, Speedo LZRs have helped produce record times. For winning advertisers during the Games, the key ingredient is proving to be emotional ads...
Huge Olympic Success To Add One Penny To GE's (GE) Bottom Line
The Olympics were far from a sure thing for NBC Universal. American interest in the games had been waning for years, and the prospect of a Chinese crackdown on protestors made many network bigwigs nervous...
U.S. FDA warns GE Healthcare unit over records
The U.S. Food and Drug Administration has warned GE Healthcare's Integrated IT Solutions unit about a dozen manufacturing violations including improper record keeping that could result in further action from the agency....
Immelt: GE ‘Not Done Doing Cable Deals’
General Electric chairman and CEO Jeff Immelt said that on the heels of NBC Universal’s acquisition of The Weather Channel, there may be more cable deals on the horizon. And he told CNBC’s Carl Quintanilla Monday morning that he is satisfied with the strategy of partnership arrangements such as the one formed for the TWC purchase.
The investment firm Blackstone is joining forces with one of China's largest consumer goods-makers in the $7bn auction of General Electric's appliances unit. Blackstone is drawing up plans to invest with Qingdao Haier, China's biggest white goods-maker, and hopes to build a global enterprise to compete with rivals such as Maytag and Electrolux...
General Electric may dump its rail car division
General Electric Co. may be close to selling its rail car leading division to GATX Corp. According to Bloomberg, GATX plans to "invest more aggressively" during a financial slowdown...
NBC sees new media habits form with Olympic games
About half of the people who are using mobile phones to pull down video or information about the Olympics have been trying out that technology for the first time, NBC said on Wednesday.
NBC Universal, a unit of General Electric Co., has been using the Olympics as something of a research lab to track the adoption of new media technology. Since the opening ceremony last Friday, the company has made content available online, through video on demand and via cell phones along with traditional TV...
General Electric spent nearly $5.4M lobbying in 2Q
General Electric Co. spent nearly $5.4 million in the second quarter lobbying on everything from patent reform to the fiscal 2009 defense spending bill, according to a disclosure report....
For Olympic Marketers, Emotions Pay
For many Olympic swimmers in Beijing, Speedo LZRs have helped produce record times. For winning advertisers during the Games, the key ingredient is proving to be emotional ads...
Huge Olympic Success To Add One Penny To GE's (GE) Bottom Line
The Olympics were far from a sure thing for NBC Universal. American interest in the games had been waning for years, and the prospect of a Chinese crackdown on protestors made many network bigwigs nervous...
U.S. FDA warns GE Healthcare unit over records
The U.S. Food and Drug Administration has warned GE Healthcare's Integrated IT Solutions unit about a dozen manufacturing violations including improper record keeping that could result in further action from the agency....
Immelt: GE ‘Not Done Doing Cable Deals’
General Electric chairman and CEO Jeff Immelt said that on the heels of NBC Universal’s acquisition of The Weather Channel, there may be more cable deals on the horizon. And he told CNBC’s Carl Quintanilla Monday morning that he is satisfied with the strategy of partnership arrangements such as the one formed for the TWC purchase.
Recent News: Olympic Coverage
GE Use Taxis At Olympics
General Electric (GE), is using Beijing taxi cabs as a way to promote its green credentials at the Chinese Olympic games. More than 1,000 screens have been installed in the back of taxis which are running interactive ...
Will GE get rid of NBC Universal following a strong Olympics?
According to The Wall Street Journal, "More viewers tuned in to watch the first two prime-time Olympics telecasts on General Electric Co.'s NBC network than any summer Games in a decade -- even as the Games received record attention on the Internet."...
NBC's Olympics coverage boosts General Electric in China
General Electric Co. is poised to capture some gold from the 2008 Olympic Games in Beijing. The Fairfield, Conn.-based company, parent of NBC Universal, said Monday that the Olympics would generate at least $1.7 billion in revenue from advertising time and sales of GE industrial products that have been incorporated into Olympic venues. Profit could be more than $150 million...
GE exceeds target for Games-related sales
General Electric Co. said sales related to the Beijing 2008 Olympic Games topped its $1.7 billion (U.S.) goal on record-setting advertising revenue and work on venues that include the National Stadium, known as the "Bird's Nest."...
GE says Olympics generating big revenue for co.
General Electric Co. said Monday it expects to generate $700 million in revenue from 400 infrastructure projects that it has been doing in and around Beijing, the site of this year's Summer Olympics....
Market Report -- In Play (GE)
General Electric surpasses $1.7 bln in company-wide sales revenues for the Beijing 2008 Olympic games Co announces it has exceeded its sales goal for the Beijing 2008 Olympic Games, winning 400 infrastructure projects in and around Beijing that will generate $700 mln in revenues. NBC Universal has also generated a record of more than $1 bln in advertising revenues....
General Electric (GE), is using Beijing taxi cabs as a way to promote its green credentials at the Chinese Olympic games. More than 1,000 screens have been installed in the back of taxis which are running interactive ...
Will GE get rid of NBC Universal following a strong Olympics?
According to The Wall Street Journal, "More viewers tuned in to watch the first two prime-time Olympics telecasts on General Electric Co.'s NBC network than any summer Games in a decade -- even as the Games received record attention on the Internet."...
NBC's Olympics coverage boosts General Electric in China
General Electric Co. is poised to capture some gold from the 2008 Olympic Games in Beijing. The Fairfield, Conn.-based company, parent of NBC Universal, said Monday that the Olympics would generate at least $1.7 billion in revenue from advertising time and sales of GE industrial products that have been incorporated into Olympic venues. Profit could be more than $150 million...
GE exceeds target for Games-related sales
General Electric Co. said sales related to the Beijing 2008 Olympic Games topped its $1.7 billion (U.S.) goal on record-setting advertising revenue and work on venues that include the National Stadium, known as the "Bird's Nest."...
GE says Olympics generating big revenue for co.
General Electric Co. said Monday it expects to generate $700 million in revenue from 400 infrastructure projects that it has been doing in and around Beijing, the site of this year's Summer Olympics....
Market Report -- In Play (GE)
General Electric surpasses $1.7 bln in company-wide sales revenues for the Beijing 2008 Olympic games Co announces it has exceeded its sales goal for the Beijing 2008 Olympic Games, winning 400 infrastructure projects in and around Beijing that will generate $700 mln in revenues. NBC Universal has also generated a record of more than $1 bln in advertising revenues....
