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Tue, Feb. 9, 11:49 AM
- Siemens (OTCPK:SIEGY +0.2%) is close to a deal to combine its wind business with Gamesa (OTCPK:GCTAF +7.6%), which would create world's largest wind turbine maker, Bloomberg reports.
- SIemens is the global leader in wind turbines designed for use offshore, while Gamesa specializes in onshore wind; together, the combined companies would have ~15% of the global wind market, exceeding Vestas Wind's (OTCPK:VWDRY) 10% share and GE’s 11%.
- Siemens also is holding talks about buying Iberdrola’s (OTCPK:IBDRY -0.6%) 20% in Gamesa, according to the report.
Thu, Jan. 21, 11:58 AM
- China’s slowdown has rattled global markets, but General Electric (GE +3.2%) vice chairman John Rice remains upbeat, telling the World Economic Forum in Davos that "there’s not anything happening in China today that causes us to alter our long-term strategy there."
- Rice says GE has enjoyed strong demand in China and other countries where growth rates have slowed, benefiting from larger-scale infrastructure projects, particularly in energy, that continue to move ahead.
- "In a world where we haven’t been sure what was going to happen with [the U.S. Ex-Im Bank], there is capital in China ready to go where we see business," Rice says, noting China's cooperation on a $1B power deal in Pakistan last year.
- The focus on the volatility in China’s stock market and the slumping currency misses the underlying strength of an economy that is still growing at a rate that is the envy of much of the world, according to Rachel Duan, GE’s China chief.
- GE, which now has a workforce of 25K in China, reports Q4 earnings before the market opens tomorrow.
Thu, Jan. 21, 9:02 AM| Thu, Jan. 21, 9:02 AM | 6 Comments
Dec. 16, 2015, 3:45 PM
- General Electric (NYSE:GE) is finishing strong, up 2.9%, after forecasting a double-digit rise in its operating income next year -- up to a 15% gain.
- The company also says it would return about $26B to shareholders in fiscal 2016, vs. $32B in 2015.
- It sees operating earnings rising to between $1.45 and $1.55 a share, up from its 2015 per-share targets of $1.28-$1.35.
- Previously: CNBC: GE on track to sell appliance unit in 2016 (Dec. 16 2015)
Dec. 14, 2015, 11:58 AM
- General Electric (GE -1.1%) is well positioned to compete in the large turbine market, Bernstein's Steven Winoker says, as he remains positive on the power generation space and on GE’s transformation with its recent acquisition of Alstom.
- GE already is a well-established leader in the segment for smaller turbines and its strong position in the largest units showcases the company’s breadth, says Winoker, adding that his meetings with management provides a clearer picture of GE’s current process and prospects.
- Grid stability will be an increasing issue, Winoker says, and in the more immediate near-term, retirement of coal plants should provide a "meaningful lift" for the gas turbine business.
Dec. 9, 2015, 3:37 PM
- GE would best satisfy the desire by regulators in both the U.S. and EU for a third provider of integrated oil services contracts," says Seeking Alpha contributor Chris DeMuth, responding to a report the company is near a deal to purchase Halliburton's (HAL +5.2%) drill bits and drilling services divisions.
- A potential deal, he says, means a good chance of Halliburton being spared a massive breakup fee, and then being able to realize the significant cost savings of a merger with Baker Hughes (BHI +7.3%).
Dec. 9, 2015, 2:59 PM
- Halliburton (HAL +4.5%) and Baker Hughes (BHI +6.9%) remain higher after Bloomberg reports that GE (GE +0.8%) is in advanced talks to buy HAL's drill bits and drilling services divisions (earlier).
- Selling both businesses could have fetched as much as $5B combined earlier this year when the units were put on the block, but it is not clear how much the decline in oil prices may have affected their respective market values.
- GE also is exploring bids for other assets that HAL is seeking to unload, including parts of BHI’s completions operations, according to the report.
- While the timeline for closing the merger already has been pushed out to Dec. 15 at the earliest, HAL's acting CFO Christian Garcia says he sees a strong likelihood the deal does not close until sometime in 2016.
Dec. 9, 2015, 2:10 PM| Dec. 9, 2015, 2:10 PM | 9 Comments
Dec. 3, 2015, 3:33 PM
- Baker Hughes (BHI -2.8%) is upgraded to Speculative Buy from Accumulate at Seaport Global on the belief the merger with Halliburton (HAL -3.3%) is a 90% probability, but shares are down anyway as energy companies trade broadly lower.
- The firm says recent news related to the merger indicates the deal continues to progress toward a likely close in late January 2016, while its conversations with HAL indicate that the company to wrap up asset sales before year-end.
- Seaport believes GE is the most likely buyer of the assets, since GE is increasing its energy focus and it has indicated the likelihood of further acquisitions.
Nov. 12, 2015, 2:26 PM
- Boeing (BA -1.5%) and Airbus (OTCPK:EADSY -3.3%) are sharply lower following engine supplier Rolls-Royce's (OTCPK:RYCEY -19.8%) warning of a weaker than expected 2015 earnings outlook and sharply weaker demand in 2016.
- Rolls-Royce, which makes engines for Boeing’s 787 Dreamliners and Airbus A380 superjumbos, says it expects sharply lower volumes of corporate jets powered by its engines next year, and that its aftermarket service segment had begun to suffer as customers use older, wide-body engines less and shift to more fuel-efficient planes.
- Rolls-Royce's gloomier outlook also comes as engines made by GE (GE -1.4%) and Pratt & Whitney (UTX +1.1%) for the Airbus A330 reportedly have driven down prices for its Trent 700 engines.
Nov. 5, 2015, 11:09 AM
- The Department of Justice is pressuring Electrolux (OTCPK:ELUXY) to divest its entire U.S. business, according to Bloomberg.
- The Swedish company plans to go to court in defense of the effort to buy GE's (GE -0.6%) appliances business. A lawyer for Electrolux says settlement talks with the DOJ have ended.
- Electrolux ADRs are down 2.5%, while home appliance giant Whirlpool (NYSE:WHR) is down 2.2%.
Oct. 16, 2015, 7:30 AM
- Capping a dramatic portfolio reshaping quarter, General Electric (NYSE:GE) posted adjusted profit of $2.9B (+12% Y/Y), or $0.29 per share, beating estimates.
- Industrial operating profit grew 5% to $4.5B in the quarter, while gains from aviation, transport and appliances helped offset the oil and gas sector.
- GE also said it will also launch a share exchange for Synchrony Financial (NYSE:SYF) next week, which will significantly reduce its outstanding share count.
- GE +1.9% premarket
- Q3 results
Oct. 13, 2015, 7:33 AM
- William Blair upgrades General Electric (NYSE:GE) to Outperform from Market Perform with a $32 price target.
- Earnings from the company's Alstom Energy acquisition and data analytics business offer "significant sources of incremental upside potential, potentially by a large margin," analyst Nick Heymann tells investors.
- Heymann also sees the potential for GE shares to possibly double to about $60/share by 2020.
- GE +0.2% premarket
Oct. 6, 2015, 6:15 PM
- General Electric (GE +1.8%) says it's looking at out-of-service engine parts similar to one in an engine that failed last month in a British Airways plane that caught fire on takeoff in Las Vegas.
- In an update today to its initial report, the NTSB says a spool in the high-pressure compressor section of a GE90 engine on the plane had failed. Last month the board said it had found several pieces of the spool on the runway.
- GE says it's "aggressively inspecting out-of-service GE90 compressor spools of similar vintage to the one involved in the September 8 event" ahead of any further investigative actions.
Oct. 6, 2015, 2:26 PM
- "Kudos to Trian for timing in acquiring their position in General Electric (GE +2%)," writes The Institutional View's Andrew Addison, noting the fund's average cost is about $25.50 per share.
- Addison expects Nelson Peltz and team to support Jeff Immelt's efforts to continue streamlining operations and buy back stock. He notes Peltz' year-end 2017 valuation of $40-$45 is the same as his (Peltz' valuation was arrived an fundamentally, Addison's technically).
- Dips should be bought, says Addison.
- Previously: Trian Fund Management takes $2.5B stake in GE (Oct. 5)
Oct. 5, 2015, 6:45 AM| Oct. 5, 2015, 6:45 AM | 17 Comments
General Electric Co is a diversified company with products & services that range from aircraft engines, power generation, oil & gas production equipment, household appliances, medical imaging, business & consumer financing and industrial products.
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