Imagining a Smaller GE Capital
Imagine that Jeffrey R. Immelt, chief executive of General Electric, could remake the conglomerate’s troubled finance unit, GE Capital, from scratch. Ideally he would narrow its focus to businesses related to G.E.’s core industrial strengths — and the size of its balance sheet to about $360 billion in assets, Reuters Breakingviews suggests. Imagining, though, illustrates just how difficult it will be to tame GE Capital to a manageable size.
Mr. Immelt has already taken out the hatchet. But his aim of chopping GE Capital’s balance sheet down from $631 billion, by about a quarter across most areas, is going to take time. He has 2012 in his sights to achieve this ambition — something he is likely to reiterate at his annual investor presentation Tuesday. That could seem an eternity to investors who have seen the company’s market value shrink by more than $240 billion since the credit crisis erupted, Reuters Breakingviews notes.
If it were possible for Mr. Immelt to hit the reset button on GE Capital, Reuters Breakingviews says, it is not difficult to see what would disappear first: commercial real estate. The market for office properties and securities is in a shambles, and GE Capital, as both lender and landlord, is heavily exposed. The company recently raised to $7 billion its estimate of unrealized losses on underwater properties. The trouble is that most experts predict that asset values for everything from apartment buildings to skyscrapers have further to fall.
READ THE FULL STORY HERE.
Showing posts with label credit. Show all posts
Showing posts with label credit. Show all posts
Sunday, December 20, 2009
Tuesday, October 14, 2008
Recent News: Fed Cash, Buy Rating, Dow Rally, Immelt on Leadership, and GE buying in India
GE Eschews - Or Does It Seek? - Access To Fed Cash
How can you tell when General Electric is prevaricating about the status of its capital position? Answer: when you can see its CFO’s lips moving. On Friday, the conglomerate’s finance chief admitted the company had reviewed the way the Federal Reserve was conducting its purchase of commercial paper. Then quickly insisted that GE was capable of completely funding itself, and would have no need to seek recourse to a government buyer-of-last-resort funding instument...
General Electric "buy," target price reduced
Analyst Stephen A O’Neil of Hilliard Lyons maintains his "buy" rating on General Electric Co (GE), while reducing his estimates for the company. The target price has been reduced from $30 to $25....
General Electric (GE) Not Participating In Today's Rally
For some reason General Electric is not participating in today's 600 point rally. Shares of GE are down 4% today to $20.63. GE did rise 13% on Friday, so it could have something to do with that....
GE’s Jeff Immelt on leadership renewal
Former Harvard MBA Jeff Immelt just delighted a packed conference hall (actually a big tent) with his observations about the need for leaders to renew themselves. “You’ve got to be able to do this,” he said. “Leadership is really a journey into yourself. I take every criticism personally, I think about them, and I go to bed at night thinking: ‘Oh God, what a failure I am.’ And then I wake up in the morning and I say: ‘Hello, handsome!’ ”...
What Credit Crunch? GE wants to buy in India
Even as the financial world seems to be crumbling and General Electric’s profits are headed south, the company may be looking for acquisitions in India. The other day my colleague Mehul Srivastava and I met with GE India boss Tejpreet Chopra. He sketched out an ambitious plan to boost the company’s revenues in the country to $8 billion by 2010 or 2011, from $2.6 billion today. “There will be some element of acquisitions in meeting our (sales) targets,” Chopra said...
How can you tell when General Electric is prevaricating about the status of its capital position? Answer: when you can see its CFO’s lips moving. On Friday, the conglomerate’s finance chief admitted the company had reviewed the way the Federal Reserve was conducting its purchase of commercial paper. Then quickly insisted that GE was capable of completely funding itself, and would have no need to seek recourse to a government buyer-of-last-resort funding instument...
General Electric "buy," target price reduced
Analyst Stephen A O’Neil of Hilliard Lyons maintains his "buy" rating on General Electric Co (GE), while reducing his estimates for the company. The target price has been reduced from $30 to $25....
General Electric (GE) Not Participating In Today's Rally
For some reason General Electric is not participating in today's 600 point rally. Shares of GE are down 4% today to $20.63. GE did rise 13% on Friday, so it could have something to do with that....
GE’s Jeff Immelt on leadership renewal
Former Harvard MBA Jeff Immelt just delighted a packed conference hall (actually a big tent) with his observations about the need for leaders to renew themselves. “You’ve got to be able to do this,” he said. “Leadership is really a journey into yourself. I take every criticism personally, I think about them, and I go to bed at night thinking: ‘Oh God, what a failure I am.’ And then I wake up in the morning and I say: ‘Hello, handsome!’ ”...
What Credit Crunch? GE wants to buy in India
Even as the financial world seems to be crumbling and General Electric’s profits are headed south, the company may be looking for acquisitions in India. The other day my colleague Mehul Srivastava and I met with GE India boss Tejpreet Chopra. He sketched out an ambitious plan to boost the company’s revenues in the country to $8 billion by 2010 or 2011, from $2.6 billion today. “There will be some element of acquisitions in meeting our (sales) targets,” Chopra said...
Monday, October 13, 2008
Recent News: NBC Olympics, Earnings, Stock Performance, Finance Arm, and Warren Buffett
NBC loses money on Beijing Olympics
NBC Universal lost money on the Beijing Olympics, executives of parent company General Electric said Friday....
GE’s Quality of Earnings Problems
General Electric, a bellwether stock for the US economy, reported a 12% drop in third quarter earnings, as the credit crisis continues to hammer its finance unit, GE Capital, a big profit driver for the industrial conglomerate. On closer examination, GE’s earnings report has a number quality of earnings issues. Investors should sit up and take notice of the danger zones...
GE Rises Most Since 1980 as Profit Meets Estimates
General Electric Co. rose 13 percent in New York trading, the most in at least 28 years, after its third-quarter profit matched analysts' estimates during the worst U.S. financial crisis since the Great Depression. Profit from continuing operations fell 12 percent to $4.48 billion, or 45 cents a share, from $5.11 billion, or 50 cents, a year earlier. Sales rose 11 percent to $47.2 billion, the Fairfield, Connecticut-based company said today. Chief Executive Officer Jeffrey Immelt said GE will meet its 2008 forecast...
GE profit battered by finance arm
General Electric profit declined for a third straight quarter because of lower earnings at its finance arm during the ongoing financial crisis. Profit from continuing operations fell 12% to $US4.48 billion ($6.9 billion), or 45 cents a share, from $US5.11 billion, or 50 cents, a year earlier, matching analysts' average estimate. Sales rose 11% to $US47.2 billion, the Fairfield, Connecticut-based company said Friday. Chief Executive Officer Jeffrey Immelt said GE will meet its 2008 profit forecast....
GE's Financial Dead Arm
General Electric reported its earnings Friday, and the results were unsurprising. They met Wall Street's expectations and were defined by weakness in its financial arm, which has been hit by problems globally and in the credit markets. GE's profit dropped 23.2% to $4.3 billion, or 43 cents per share, from $5.6 billion, or 54 cents per share, reported in last year's corresponding quarter. The results were just short of Wall Street's expected 45 cents per share....
Investing Like Buffett
IF this were the 1930s, we might go to the movies and see a gaudy, escapist musical to feel better again. Instead, let’s pretend we’re Warren Buffett...
Bad News Is Good News For GE
General Electric had primed the market for a crummy third-quarter earnings report, so investors weren't too surprised when one came on Friday. There was some unexpected good news from its media division, but the cloud inside that silver lining was that the better-than-expected results were a direct reflection of the direr-than-expected global economy....
GE makes a profit, but it's lower
General Electric Co.’s third-quarter net income fell by 22 percent amid a decrease in earnings in its GE Capital financial services unit, which has been affected by the ongoing credit crunch.
Fairfield, Conn.-based GE (NYSE: GE) today reported that net income declined to $4.3 billion, or 43 cents a share, compared with $5.6 billion, or 54 cents per share, in the same quarter a year earlier...
What Does Warren Buffett See in General Electric?
By all accounts, the legendary investor has entered less-than-familiar territory. General Electric (GE) and Goldman Sachs (GS) will most certainly determine whether Mr. Buffett's unique ability to pick business models with substantial inherent upside is still intact or whether the dramatic changes in the global economy are forcing him to fish in troubled waters. GE's Keith Sherin has just announced a worldwide upgrading of lending standards. But he did not clarify two important and related issues. Will this upgrading, or tightening, of GE's portfolio be founded in a revaluation of the assets which triggered the loans in the first place? And, if so, how will the almost-certain degradation of such assets impact upon GE's AAA rating?...
NBC Universal lost money on the Beijing Olympics, executives of parent company General Electric said Friday....
GE’s Quality of Earnings Problems
General Electric, a bellwether stock for the US economy, reported a 12% drop in third quarter earnings, as the credit crisis continues to hammer its finance unit, GE Capital, a big profit driver for the industrial conglomerate. On closer examination, GE’s earnings report has a number quality of earnings issues. Investors should sit up and take notice of the danger zones...
GE Rises Most Since 1980 as Profit Meets Estimates
General Electric Co. rose 13 percent in New York trading, the most in at least 28 years, after its third-quarter profit matched analysts' estimates during the worst U.S. financial crisis since the Great Depression. Profit from continuing operations fell 12 percent to $4.48 billion, or 45 cents a share, from $5.11 billion, or 50 cents, a year earlier. Sales rose 11 percent to $47.2 billion, the Fairfield, Connecticut-based company said today. Chief Executive Officer Jeffrey Immelt said GE will meet its 2008 forecast...
GE profit battered by finance arm
General Electric profit declined for a third straight quarter because of lower earnings at its finance arm during the ongoing financial crisis. Profit from continuing operations fell 12% to $US4.48 billion ($6.9 billion), or 45 cents a share, from $US5.11 billion, or 50 cents, a year earlier, matching analysts' average estimate. Sales rose 11% to $US47.2 billion, the Fairfield, Connecticut-based company said Friday. Chief Executive Officer Jeffrey Immelt said GE will meet its 2008 profit forecast....
GE's Financial Dead Arm
General Electric reported its earnings Friday, and the results were unsurprising. They met Wall Street's expectations and were defined by weakness in its financial arm, which has been hit by problems globally and in the credit markets. GE's profit dropped 23.2% to $4.3 billion, or 43 cents per share, from $5.6 billion, or 54 cents per share, reported in last year's corresponding quarter. The results were just short of Wall Street's expected 45 cents per share....
Investing Like Buffett
IF this were the 1930s, we might go to the movies and see a gaudy, escapist musical to feel better again. Instead, let’s pretend we’re Warren Buffett...
Bad News Is Good News For GE
General Electric had primed the market for a crummy third-quarter earnings report, so investors weren't too surprised when one came on Friday. There was some unexpected good news from its media division, but the cloud inside that silver lining was that the better-than-expected results were a direct reflection of the direr-than-expected global economy....
GE makes a profit, but it's lower
General Electric Co.’s third-quarter net income fell by 22 percent amid a decrease in earnings in its GE Capital financial services unit, which has been affected by the ongoing credit crunch.
Fairfield, Conn.-based GE (NYSE: GE) today reported that net income declined to $4.3 billion, or 43 cents a share, compared with $5.6 billion, or 54 cents per share, in the same quarter a year earlier...
What Does Warren Buffett See in General Electric?
By all accounts, the legendary investor has entered less-than-familiar territory. General Electric (GE) and Goldman Sachs (GS) will most certainly determine whether Mr. Buffett's unique ability to pick business models with substantial inherent upside is still intact or whether the dramatic changes in the global economy are forcing him to fish in troubled waters. GE's Keith Sherin has just announced a worldwide upgrading of lending standards. But he did not clarify two important and related issues. Will this upgrading, or tightening, of GE's portfolio be founded in a revaluation of the assets which triggered the loans in the first place? And, if so, how will the almost-certain degradation of such assets impact upon GE's AAA rating?...
Monday, October 6, 2008
Recent News: Warren Buffett, Stock Offering, Stock Performance, and Ratings Cut
Chasing Value: General Electric is screaming to me!
The market is bouncing around with every bit of news leaked from the Congress as well as company warnings and Federal reports. 'My pal Warren' is frequently being asked his opinion about the stock market and his 'stock answer' is that he ignores the overall market and its daily gyrations and focuses on individual investments and price (value)....
General Electric still slides on Warren Buffett backing
Shares in General Electric fell another 10 per cent yesterday as Wall Street ignored the backing Warren Buffett has given the company and braced itself for a full-scale banking crisis. On Wednesday, Mr Buffett bought $3 billion (£1.7 billion) of GE preferred shares through Berkshire Hathaway, his investment vehicle. He acquired the stock at $22.25 each. At the same time, GE, one of the world’s largest conglomerates, sold another 548 million shares at the same price to other investors. On Wall Street yesterday, GE shares were trading at $22.12, just below the fundraising offer price...
Bet on Warren Buffett, not on slogans
THERE’S only one set of people that finance firms have thrown money at more willingly than subprime borrowers in recent years and that’s ad execs. And a fat lot of good it’s done them. Even in these straitened times, they are seldom off the TV and their spots are seldom anything other than awful. At the moment there’s a particularly horrid series for E-Trade featuring a baby day trader getting freaky with his girlfriend via text message. “Bad girl,” he says and shivers. Me too. Makes me feel abused every time it’s on...
Buffett Sees the Light in GE
Some stocks are labeled bellwethers for good reason. General Electric, the huge conglomerate whose reach extends into industry, health care, media and financial services, has long been considered a barometer for the economy. These days, for better or worse, the company is emblematic of the problems roiling the financial markets overall and financial firms in particular. ..
GE Needs to Shed More Light
WEDNESDAY AFTERNOON, GENERAL ELECTRIC (ticker: GE) announced plans to offer at least $12 billion of common stock to the public. The announcement comes on the heels of saying on Sept. 25 when asked about issuing new equity that "we just don't see it right now."...
Ahead of the Bell: Analyst cuts forecast for GE
An analyst Friday reduced his earnings forecast for General Electric Co. for 2008 and the next two years, but said the conglomerate's share offering of $12.2 billion and another $3 billion in warrants to Warren Buffett affects only the fourth quarter....
GE shares slide after secondary stock offering
General Electric Co. shares fell as much as 10 percent on Thursday, touching a new 5-1/2-year low, as its sale of $15 billion in new stock to investors including Warren Buffett failed to soothe Wall Street worries. GE shares have tumbled about 40 percent this year as the global credit crunch has taken a heavy toll on its hefty finance arm and the company warned that 2008 profit could drop 12 percent....
The market is bouncing around with every bit of news leaked from the Congress as well as company warnings and Federal reports. 'My pal Warren' is frequently being asked his opinion about the stock market and his 'stock answer' is that he ignores the overall market and its daily gyrations and focuses on individual investments and price (value)....
General Electric still slides on Warren Buffett backing
Shares in General Electric fell another 10 per cent yesterday as Wall Street ignored the backing Warren Buffett has given the company and braced itself for a full-scale banking crisis. On Wednesday, Mr Buffett bought $3 billion (£1.7 billion) of GE preferred shares through Berkshire Hathaway, his investment vehicle. He acquired the stock at $22.25 each. At the same time, GE, one of the world’s largest conglomerates, sold another 548 million shares at the same price to other investors. On Wall Street yesterday, GE shares were trading at $22.12, just below the fundraising offer price...
Bet on Warren Buffett, not on slogans
THERE’S only one set of people that finance firms have thrown money at more willingly than subprime borrowers in recent years and that’s ad execs. And a fat lot of good it’s done them. Even in these straitened times, they are seldom off the TV and their spots are seldom anything other than awful. At the moment there’s a particularly horrid series for E-Trade featuring a baby day trader getting freaky with his girlfriend via text message. “Bad girl,” he says and shivers. Me too. Makes me feel abused every time it’s on...
Buffett Sees the Light in GE
Some stocks are labeled bellwethers for good reason. General Electric, the huge conglomerate whose reach extends into industry, health care, media and financial services, has long been considered a barometer for the economy. These days, for better or worse, the company is emblematic of the problems roiling the financial markets overall and financial firms in particular. ..
GE Needs to Shed More Light
WEDNESDAY AFTERNOON, GENERAL ELECTRIC (ticker: GE) announced plans to offer at least $12 billion of common stock to the public. The announcement comes on the heels of saying on Sept. 25 when asked about issuing new equity that "we just don't see it right now."...
Ahead of the Bell: Analyst cuts forecast for GE
An analyst Friday reduced his earnings forecast for General Electric Co. for 2008 and the next two years, but said the conglomerate's share offering of $12.2 billion and another $3 billion in warrants to Warren Buffett affects only the fourth quarter....
GE shares slide after secondary stock offering
General Electric Co. shares fell as much as 10 percent on Thursday, touching a new 5-1/2-year low, as its sale of $15 billion in new stock to investors including Warren Buffett failed to soothe Wall Street worries. GE shares have tumbled about 40 percent this year as the global credit crunch has taken a heavy toll on its hefty finance arm and the company warned that 2008 profit could drop 12 percent....
Thursday, October 2, 2008
Recent News: Warren Buffet to invest in GE and GE Credit Risks
Berkshire Takes $3 Billion Stake in General Electric Following up on the firm's $5 billion investment in Goldman Sachs, Berkshire Hathaway Inc. will be taking a $3 billion stake in General Electric Co. in a similarly structured private offering. As in the Goldman deal, Berkshire (NYSE: BRK) will be entitled to a 10% dividend on the newly issued $3 billion of perpetual preferred shares, which are callable by GE
Warren Buffett invests in General Electric
General Electric Co. is stocking up on cash, and Warren Buffett will be making a big deposit. The world’s second-largest company says it will sell at least $12 billion in common stock in a secondary public offering. Separately, Buffett’s Berkshire Hathaway will buy $3 billion in preferred General Electric stock....
What Buffett May Be Missing at GE
General Electric plans to sell $3 bn in preferred stock to Warren Buffett’s Berkshire Hathaway and raise at least $12 bn more by selling stock to the public, at potentially $22.25 to $22.50 each. The preferred shares have a 10% dividend, and are...
Buffett to Invest $3 Billion in G.E.
Warren E. Buffett is again buying into the bluest of blue-chip companies — at a steep discount. This time, the famed investor is buying $3 billion in perpetual preferred stock from General Electric, the conglomerate seeking to allay concerns about its financial health amid the whipsawing markets....
GE to raise $15 billion, Buffett gets preferred stake
General Electric Co plans to raise $15 billion through stock sales -- including $3 billion from Warren Buffett -- to improve liquidity and give it the option of more acquisitions at a time of intense market turmoil, the U.S. conglomerate said on Wednesday...
GE to sell $12 billion of stock; Buffett to take stake
It is the second time in as many weeks that Buffett has been tapped by one of America's marquee companies for capital. Through his investment vehicle Berkshire Hathaway, Buffett is investing as much as $10 billion in Goldman Sachs Co. to help the venerable investment bank navigate its way through the global credit crunch....
GE Defends Health as Credit Risk Widens, Shares Fall
General Electric Co. said it has been able to sell corporate paper and fund operations without tapping bank lines, seeking to quash speculation that led to a surge in its credit default swaps and a slump in the stock. "We see no reason for the defaults widening,'' Fairfield, Connecticut-based GE said in a statement today. "Despite current market disruptions, our CP funding has gone smoothly. We have over-funded every day, including today, with good demand for our paper in term maturities.''
Warren Buffett invests in General Electric
General Electric Co. is stocking up on cash, and Warren Buffett will be making a big deposit. The world’s second-largest company says it will sell at least $12 billion in common stock in a secondary public offering. Separately, Buffett’s Berkshire Hathaway will buy $3 billion in preferred General Electric stock....
What Buffett May Be Missing at GE
General Electric plans to sell $3 bn in preferred stock to Warren Buffett’s Berkshire Hathaway and raise at least $12 bn more by selling stock to the public, at potentially $22.25 to $22.50 each. The preferred shares have a 10% dividend, and are...
Buffett to Invest $3 Billion in G.E.
Warren E. Buffett is again buying into the bluest of blue-chip companies — at a steep discount. This time, the famed investor is buying $3 billion in perpetual preferred stock from General Electric, the conglomerate seeking to allay concerns about its financial health amid the whipsawing markets....
GE to raise $15 billion, Buffett gets preferred stake
General Electric Co plans to raise $15 billion through stock sales -- including $3 billion from Warren Buffett -- to improve liquidity and give it the option of more acquisitions at a time of intense market turmoil, the U.S. conglomerate said on Wednesday...
GE to sell $12 billion of stock; Buffett to take stake
It is the second time in as many weeks that Buffett has been tapped by one of America's marquee companies for capital. Through his investment vehicle Berkshire Hathaway, Buffett is investing as much as $10 billion in Goldman Sachs Co. to help the venerable investment bank navigate its way through the global credit crunch....
GE Defends Health as Credit Risk Widens, Shares Fall
General Electric Co. said it has been able to sell corporate paper and fund operations without tapping bank lines, seeking to quash speculation that led to a surge in its credit default swaps and a slump in the stock. "We see no reason for the defaults widening,'' Fairfield, Connecticut-based GE said in a statement today. "Despite current market disruptions, our CP funding has gone smoothly. We have over-funded every day, including today, with good demand for our paper in term maturities.''
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....
Thursday, September 18, 2008
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....
Friday, November 16, 2007
GE Press Releases: Aerospace and Aviation, GE Money, GE Hitachi, GE Capital Solutions, GE Security, GE Healthcare, GE Fanuc
Qatar Airways Selects GEnx and GE90 Engines for its new Boeing 787 and 777 Aircraft
The GEnx order is valued at more than $800 million (USD) list price. The order for the GE90-115B-powered Boeing 777 Freighters follows orders for two Boeing 777 freighter, 14 Boeing 777-300ER and six Boeing 777-200LR aircraft, which are also powered by the GE90-115B engines. The combined list price of the GE90-115B engines ordered for all 27 Boeing 777 aircraft is more than $1.2 billion list price...
Emirates Selects GP7200 Engines for Additional Airbus A380 Aircraft
Emirates has selected the GP7200 engine to power its 12 additional Airbus A380 aircraft. The engine order is valued at $800 million (USD) list price...
GE Corporate Lending Provides $550 Million to Finlay Enterprises, Inc. For Acquisition of Bailey Banks & Biddle
Founded in 1887, Finlay is a leading retailer of fine jewelry operating stand-alone jewelry stores and jewelry departments in department stores throughout the United States. Founded in 1832, Bailey Banks & Biddle operates 70 stand-alone fine jewelry retail stores throughout the United States offering jewelry and watches under high-end brand names
ClimateMaster Endorses Eco-Friendly Loan Program Offered Through GE Money & Electric & Gas Industries Association
The GEOSmart Loan program, sponsored by EGIA and funded by GE Money’s Sales Finance unit, provides both installment and revolving financing options and is available through EGIA-approved contractors to assist consumers looking to purchase a ClimateMaster geothermal heating, cooling and water heating system for their home. “The level of long-term financing provided through the GEOSmart Loan program is something that has long been needed in the geothermal heat pump...
Exelon Nuclear Selects GE Hitachi’s ESBWR
Exelon Nuclear is studying locations in Matagorda and Victoria counties in Texas as potential reactor sites to help address that state’s rapidly growing demand for energy...
Emirates Signs Fleet Management Agreement with Engine Alliance for GP7200 Engines
“As the largest customer of the GP7200 engines, Emirates is an important customer for the Engine Alliance and we look forward to working together with them to fulfill their service needs,” said Bruce Hughes, president of the Engine Alliance...
Saudi Arabian Airlines and GE Sign Overhaul Support Agreement
Under the agreement, GE Aviation will support Saudi Arabian Airlines’ new state-of-the-art facility that will be built in King Abdul Aziz Airport in the Kingdom of Saudi Arabia. The facility will serve the Saudi Arabian and the region market. Additionally, Saudi Arabian Airlines and GE have signed a memorandum of understanding (MOU) for GE to supply material to the airline...
Emirates Order Additional GE90-Powered Boeing 777 Aircraft
Emirates has also signed a 12-year OnPointSM solution service agreement for the maintenance and overhaul of its the GE90-115B engines. The agreement is worth more than $380M over the life of the contract...
Dubai Aerospace Enterprise Orders GE Engines for New Fleet
Bob Genise, CEO of DAE Capital, the Dubai-based group’s aircraft, leasing and finance business, said, “This deal, as part of a 100 aircraft order from Boeing, demonstrates our aim to quickly establish DAE Capital as a world-class aircraft leasing business.”...
Royal Jordanian Signed OnPoint Solution Services Agreement with GE
Created in 1963 by a Royal Decree issued by His Majesty the late King Hussein, Royal Jordanian has grown to cover a network of 54 destinations on four continents. Royal Jordanian operates an extensive fleet, including CF6-powered Airbus A310 aircraft, CF34-10E-powered EMB195, CFM56*-powered A340 aircraft and CFM56*-powered A320 aircraft. This year, Royal Jordanian joined OneworldTM airline alliance...
HP Hotels Secures $17.5 Million in Refinancing and Construction Loans from GE Capital Solutions, Franchise Finance
To further expand its growing hospitality portfolio HP Hotels chairman, Chiman Patel, turned to GE Capital Solutions, Franchise Finance for a $17.5 million refinancing loan for a Hampton Inn in Birmingham, Ala, and new construction of a 115-room Hilton Garden in Oklahoma City, Okla. Patel has a long-term relationship with...
GE Announces Weldstar Girth Weld Pipeline Inspection System
GE Sensing & Inspection Technologies, a business unit of GE Enterprise Solutions (NYSE: GE), announces the release of Weldstar, a complete, automated ultrasonic girth weld inspection system for transmission pipelines. Weldstar provides considerable gains in productivity and probability of detection, without the hazards...
GE Money and Thomasville Furniture Industries Extend Consumer Finance Program
GE Money and Thomasville Furniture Industries today announced a multi-year renewal of its consumer financing agreement, originally formed in 2003. The Thomasville credit card program, issued through GE Money’s Sales Finance unit...
ALAFCO Aviation Lease and Finance Company Selects GEnx Engine for Boeing 787 Fleet
ALAFCO Aviation Lease and Finance Company (KSCC) has chosen the GEnx engine to power its additional Boeing 787 Dreamliners. ALAFCO has order a total of 22 Boeing 787 Dreamliners, all powered by GEnx engines...
Sama Signs an Agreement with GE for USD 51 Million
Sama, the new low-fare carrier in Saudi Arabia, has signed a 10-year, OnPointSM solution agreement with GE for the maintenance, repair and overhaul of its CFM56-3 fleet. The agreement is valued at more than $51 million (USD) over the life of the contract...
GE Security’s New ActiveKEY Delivers Wireless Productivity, Competitiveness and Safety Enhancements to Real Estate Agents
GE Security, Inc., a wholly owned indirect subsidiary of the General Electric Co. (NYSE: GE), today announced its new wireless lockbox key, ActiveKEY, has garnered significant early acceptance since its launch in August and is now being used by more than 33,000 real estate agents in more than 30 markets...
Will Your Hospital Be Prepared? New Report Examines Unfunded Liabilities and its Impact on Current and Future Capital Planning
To provide an understanding of the scope and effect of unfunded liabilities, such as defined benefit pensions and medical malpractice claims, HFMA and GE Healthcare Financial Services have released Managing Unfunded Liabilities: Will Your Hospital Be Prepared?, the third installment in the Financing the Future...
GE Healthcare Financial Services and Sechrist Sign Vendor Financing Agreement
This financing agreement will provide our growing number of hospital and healthcare clinic customers with a means to afford critical medical equipment,” said Jack Rollins, CEO of Sechrist Industries. “GE Healthcare Financial Services’ history in healthcare financing and its financial strength...
GE Business Unit Grows in India with Stake in Investment Arm of KSK, Leading Indian Power Project Developer
This transaction reinforces GE Energy Financial Services’ growth in India’s power market,” said Raghuveer Kurada, Managing Director of GE Energy Financial Services’ India operations. “KSK’s pioneering leadership in mid-sized captive power generation and access to dedicated low-cost fuel reserves creates opportunities for sizeable additional investment in new power projects...
GE Fanuc Intelligent Platforms Announces First NEBS-compliant PCI-X Packet Processors
Designed for applications such as session border control, secure access, network address translation (NAT), traffic management and firewall, the WANic 3850 and 3860 are the first packet processors...
The GEnx order is valued at more than $800 million (USD) list price. The order for the GE90-115B-powered Boeing 777 Freighters follows orders for two Boeing 777 freighter, 14 Boeing 777-300ER and six Boeing 777-200LR aircraft, which are also powered by the GE90-115B engines. The combined list price of the GE90-115B engines ordered for all 27 Boeing 777 aircraft is more than $1.2 billion list price...
Emirates Selects GP7200 Engines for Additional Airbus A380 Aircraft
Emirates has selected the GP7200 engine to power its 12 additional Airbus A380 aircraft. The engine order is valued at $800 million (USD) list price...
GE Corporate Lending Provides $550 Million to Finlay Enterprises, Inc. For Acquisition of Bailey Banks & Biddle
Founded in 1887, Finlay is a leading retailer of fine jewelry operating stand-alone jewelry stores and jewelry departments in department stores throughout the United States. Founded in 1832, Bailey Banks & Biddle operates 70 stand-alone fine jewelry retail stores throughout the United States offering jewelry and watches under high-end brand names
ClimateMaster Endorses Eco-Friendly Loan Program Offered Through GE Money & Electric & Gas Industries Association
The GEOSmart Loan program, sponsored by EGIA and funded by GE Money’s Sales Finance unit, provides both installment and revolving financing options and is available through EGIA-approved contractors to assist consumers looking to purchase a ClimateMaster geothermal heating, cooling and water heating system for their home. “The level of long-term financing provided through the GEOSmart Loan program is something that has long been needed in the geothermal heat pump...
Exelon Nuclear Selects GE Hitachi’s ESBWR
Exelon Nuclear is studying locations in Matagorda and Victoria counties in Texas as potential reactor sites to help address that state’s rapidly growing demand for energy...
Emirates Signs Fleet Management Agreement with Engine Alliance for GP7200 Engines
“As the largest customer of the GP7200 engines, Emirates is an important customer for the Engine Alliance and we look forward to working together with them to fulfill their service needs,” said Bruce Hughes, president of the Engine Alliance...
Saudi Arabian Airlines and GE Sign Overhaul Support Agreement
Under the agreement, GE Aviation will support Saudi Arabian Airlines’ new state-of-the-art facility that will be built in King Abdul Aziz Airport in the Kingdom of Saudi Arabia. The facility will serve the Saudi Arabian and the region market. Additionally, Saudi Arabian Airlines and GE have signed a memorandum of understanding (MOU) for GE to supply material to the airline...
Emirates Order Additional GE90-Powered Boeing 777 Aircraft
Emirates has also signed a 12-year OnPointSM solution service agreement for the maintenance and overhaul of its the GE90-115B engines. The agreement is worth more than $380M over the life of the contract...
Dubai Aerospace Enterprise Orders GE Engines for New Fleet
Bob Genise, CEO of DAE Capital, the Dubai-based group’s aircraft, leasing and finance business, said, “This deal, as part of a 100 aircraft order from Boeing, demonstrates our aim to quickly establish DAE Capital as a world-class aircraft leasing business.”...
Royal Jordanian Signed OnPoint Solution Services Agreement with GE
Created in 1963 by a Royal Decree issued by His Majesty the late King Hussein, Royal Jordanian has grown to cover a network of 54 destinations on four continents. Royal Jordanian operates an extensive fleet, including CF6-powered Airbus A310 aircraft, CF34-10E-powered EMB195, CFM56*-powered A340 aircraft and CFM56*-powered A320 aircraft. This year, Royal Jordanian joined OneworldTM airline alliance...
HP Hotels Secures $17.5 Million in Refinancing and Construction Loans from GE Capital Solutions, Franchise Finance
To further expand its growing hospitality portfolio HP Hotels chairman, Chiman Patel, turned to GE Capital Solutions, Franchise Finance for a $17.5 million refinancing loan for a Hampton Inn in Birmingham, Ala, and new construction of a 115-room Hilton Garden in Oklahoma City, Okla. Patel has a long-term relationship with...
GE Announces Weldstar Girth Weld Pipeline Inspection System
GE Sensing & Inspection Technologies, a business unit of GE Enterprise Solutions (NYSE: GE), announces the release of Weldstar, a complete, automated ultrasonic girth weld inspection system for transmission pipelines. Weldstar provides considerable gains in productivity and probability of detection, without the hazards...
GE Money and Thomasville Furniture Industries Extend Consumer Finance Program
GE Money and Thomasville Furniture Industries today announced a multi-year renewal of its consumer financing agreement, originally formed in 2003. The Thomasville credit card program, issued through GE Money’s Sales Finance unit...
ALAFCO Aviation Lease and Finance Company Selects GEnx Engine for Boeing 787 Fleet
ALAFCO Aviation Lease and Finance Company (KSCC) has chosen the GEnx engine to power its additional Boeing 787 Dreamliners. ALAFCO has order a total of 22 Boeing 787 Dreamliners, all powered by GEnx engines...
Sama Signs an Agreement with GE for USD 51 Million
Sama, the new low-fare carrier in Saudi Arabia, has signed a 10-year, OnPointSM solution agreement with GE for the maintenance, repair and overhaul of its CFM56-3 fleet. The agreement is valued at more than $51 million (USD) over the life of the contract...
GE Security’s New ActiveKEY Delivers Wireless Productivity, Competitiveness and Safety Enhancements to Real Estate Agents
GE Security, Inc., a wholly owned indirect subsidiary of the General Electric Co. (NYSE: GE), today announced its new wireless lockbox key, ActiveKEY, has garnered significant early acceptance since its launch in August and is now being used by more than 33,000 real estate agents in more than 30 markets...
Will Your Hospital Be Prepared? New Report Examines Unfunded Liabilities and its Impact on Current and Future Capital Planning
To provide an understanding of the scope and effect of unfunded liabilities, such as defined benefit pensions and medical malpractice claims, HFMA and GE Healthcare Financial Services have released Managing Unfunded Liabilities: Will Your Hospital Be Prepared?, the third installment in the Financing the Future...
GE Healthcare Financial Services and Sechrist Sign Vendor Financing Agreement
This financing agreement will provide our growing number of hospital and healthcare clinic customers with a means to afford critical medical equipment,” said Jack Rollins, CEO of Sechrist Industries. “GE Healthcare Financial Services’ history in healthcare financing and its financial strength...
GE Business Unit Grows in India with Stake in Investment Arm of KSK, Leading Indian Power Project Developer
This transaction reinforces GE Energy Financial Services’ growth in India’s power market,” said Raghuveer Kurada, Managing Director of GE Energy Financial Services’ India operations. “KSK’s pioneering leadership in mid-sized captive power generation and access to dedicated low-cost fuel reserves creates opportunities for sizeable additional investment in new power projects...
GE Fanuc Intelligent Platforms Announces First NEBS-compliant PCI-X Packet Processors
Designed for applications such as session border control, secure access, network address translation (NAT), traffic management and firewall, the WANic 3850 and 3860 are the first packet processors...
Friday, November 9, 2007
GE Press Releases: Fanuc, Roper Appliances, Pension Payments, Credit, Water
GE Fanuc Intelligent Platforms Announces High Performance Rugged 3U CompactPCI Solution
Demonstrating once again the company’s ability to deliver maximum functionality in the smallest space, GE Fanuc Intelligent Platforms today announced the rugged CM6 3U CompactPCI single board computer. Featuring a Freescale™ PowerPC™ MPC8641 operating ...
GE Metal Preparation Process Saves Money, Water, Reduces CO2 Emissions for Roper Corporation
GE Water & Process Technologies, a unit of General Electric Company (NYSE:GE) today presented Roper Corporation, a wholly owned subsidiary of General Electric that manufactures cooking appliances, with a 2007 ecomagination leadership award for...
GE Increases Pension Payments to 130,000 Retirees
GE will increase its pension benefit payments to more than 130,000 eligible retirees, effective December 1, 2007, GE Chairman and CEO Jeff Immelt announced today...
Plutonic and GE Close $470 Million Credit Facility; Financing of 196 MW Run-of-River Hydroelectric Project Completed
The project’s credit facilities were co-arranged by The Manufacturers Life Insurance Company (Manulife) (TSX, NYSE: MFC) and GE Capital Markets (Canada) Ltd. (a Canadian affiliate of GE Energy Financial Services) which together led a syndicate of lenders to provide...
GE ZeeWeed UF Membranes to Help Protect Water Quality of Major Reservoir in U.S. Southwest
GE Water & Process Technologies, a unit of General Electric Company (NYSE: GE) has been selected to supply its advanced ZeeWeed membranes for a 30-MGD (average daily flow) tertiary ultrafiltration upgrade of the 110-MGD Clark County Water Reclamation Facility (WRF) in Nevada. The facility, which treats...
SonicWALL Supports the Reseller Channel with Finance Programs through GE Capital Solutions’ Commercial Distribution Finance Unit
SonicWALL is committed to supporting our channel with finance programs through GE that allow them to control cash flow and streamline their business processes...
GE Provides $225 Million Credit Facility to United Agri Products, Inc., the Largest Independent Distributor of Agricultural and Non-Crop Inputs
UAP is the largest independent distributor of agricultural and non-crop inputs in the United States and Canada. The Company markets a comprehensive line of products including chemicals, seed, and fertilizer to growers and regional dealers. As part of the Company's product offering...
Demonstrating once again the company’s ability to deliver maximum functionality in the smallest space, GE Fanuc Intelligent Platforms today announced the rugged CM6 3U CompactPCI single board computer. Featuring a Freescale™ PowerPC™ MPC8641 operating ...
GE Metal Preparation Process Saves Money, Water, Reduces CO2 Emissions for Roper Corporation
GE Water & Process Technologies, a unit of General Electric Company (NYSE:GE) today presented Roper Corporation, a wholly owned subsidiary of General Electric that manufactures cooking appliances, with a 2007 ecomagination leadership award for...
GE Increases Pension Payments to 130,000 Retirees
GE will increase its pension benefit payments to more than 130,000 eligible retirees, effective December 1, 2007, GE Chairman and CEO Jeff Immelt announced today...
Plutonic and GE Close $470 Million Credit Facility; Financing of 196 MW Run-of-River Hydroelectric Project Completed
The project’s credit facilities were co-arranged by The Manufacturers Life Insurance Company (Manulife) (TSX, NYSE: MFC) and GE Capital Markets (Canada) Ltd. (a Canadian affiliate of GE Energy Financial Services) which together led a syndicate of lenders to provide...
GE ZeeWeed UF Membranes to Help Protect Water Quality of Major Reservoir in U.S. Southwest
GE Water & Process Technologies, a unit of General Electric Company (NYSE: GE) has been selected to supply its advanced ZeeWeed membranes for a 30-MGD (average daily flow) tertiary ultrafiltration upgrade of the 110-MGD Clark County Water Reclamation Facility (WRF) in Nevada. The facility, which treats...
SonicWALL Supports the Reseller Channel with Finance Programs through GE Capital Solutions’ Commercial Distribution Finance Unit
SonicWALL is committed to supporting our channel with finance programs through GE that allow them to control cash flow and streamline their business processes...
GE Provides $225 Million Credit Facility to United Agri Products, Inc., the Largest Independent Distributor of Agricultural and Non-Crop Inputs
UAP is the largest independent distributor of agricultural and non-crop inputs in the United States and Canada. The Company markets a comprehensive line of products including chemicals, seed, and fertilizer to growers and regional dealers. As part of the Company's product offering...
Monday, July 2, 2007
GE Money News
- GE Money to Increase Shareholding in Bank of Ayudhya to 31% (MSN Money / BusinessWire)
- GE raises holding in Thailand's BAY to 31 pct (Reuters)
- GE Money extends credit partnership with Gap through 2013 (Reuters)
- GE Money and Gap Inc. to Offer Visa Card, Extend Credit Partnership Through 2013 (Yahoo Finance / GE Press Release)
- GE raises holding in Thailand's BAY to 31 pct (Reuters)
- GE Money extends credit partnership with Gap through 2013 (Reuters)
- GE Money and Gap Inc. to Offer Visa Card, Extend Credit Partnership Through 2013 (Yahoo Finance / GE Press Release)
