Business Wire (Mon, 10:15AM)
Business Wire (Sun, 10:00AM)
at CNBC.com (Nov 27, 2013)
GE Wins nearly $700 Million Contract from Saudi Electricity Company to Help Meet Saudi Arabia’s Growing Power NeedsBusiness Wire (Nov 26, 2013)
at CNBC.com (Nov 25, 2013)
Business Wire (Nov 25, 2013)
at CNBC.com (Nov 25, 2013)
Business Wire (Nov 22, 2013)
at Fox Business (Nov 22, 2013)
Business Wire (Nov 21, 2013)
Business Wire (Nov 21, 2013)
at MarketWatch.com (Nov 21, 2013)
GE Transportation Wins First Order for Its Breakthrough New Marine Diesel Engine; Reducing Emissions by 50 PercentBusiness Wire (Nov 20, 2013)
Business Wire (Nov 20, 2013)
at CNBC.com (Nov 19, 2013)
at CNBC.com (Nov 18, 2013)
Successful Selling Season Leads to Positive Sentiment in Lawn & Garden Industry, Says GE Capital SurveyBusiness Wire (Nov 18, 2013)
Business Wire (Nov 18, 2013)
at CNBC.com (Nov 17, 2013)
at MarketWatch.com (Nov 15, 2013)
at Fox Business (Nov 15, 2013)
at CNBC.com (Nov 14, 2013)
at MarketWatch.com (Nov 13, 2013)
at CNBC.com (Nov 12, 2013)
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Thursday, Dec 54:03 PMBrazilian port manufacturing facility still on the table for GE
Thursday, Dec 54:03 PM| Comment!
- Reinaldo Garcia, General Electric's (GE -0.7%) Latin America chief, has suggested the company will go ahead with a planned manufacturing project at the Acu Superport near Rio, WSJ says.
- The status of the project was unclear after Eike Batista unloaded his stake in LLX Logistica, which was building the port itself.
- "The geographic location of the port is still very interesting; it's near where the oil reserves are," Garcia says.
- Ideally, GE would manufacture products at the port that would synch well with the needs of the environment, including "equipment for the oil and gas industry and for the marine industry."
Wednesday, Nov 272:29 PMFAA says 787, 747-8 engine icing could force planes to land
Wednesday, Nov 272:29 PM| Comment!
- The problem "could lead to forced landings," the FAA says, in an airworthiness directive related to engine icing in Boeing (BA) 787s and 747-8s equipped with GE engines.
- The regulator's incident count was higher than BA's because the FAA counts incidents wherein the engines "experienced a vibration during the ice-crystal storms, but didn't lose any thrust."
- For more on the issue, see here.
Monday, Nov 2510:41 PMFAA to issue airworthiness directive for GEnx-powered Boeing jets
Monday, Nov 2510:41 PM| 4 Comments
- The FAA is set to issue an airworthiness directive this week regarding possible ice buildup in some 787 and 747-8s (BA) equipped with GEnx engines from General Electric (GE).
- The regulator says the directive "is an interim action to make sure pilots avoid icing conditions that could affect engine power and possibly damage the engine."
- See also: GE works on software fix for engine issue
Monday, Nov 254:03 PMMost popular hedge fund shorts according to Goldman monitor
Monday, Nov 254:03 PM| 17 Comments
- The most popular shorts according to Goldman's Hedge Fund Monitor which analyzes the positions of 783 funds with $1.6T in assets (in reverse order, i.e. the last in this list is the most heavily shorted): SYY, KO, TGT, BMY, SNDK, UPS, SLB, GE, CVX, PFE, CAT, COP, EMC, PG, NFLX, WMT, JNJ, DIS, CRM, VZ, IBM, XOM, T, GILD, INTC.
- A quick scan finds Netflix making both the top 25 list of most heavily shorted and the top 20 list of most concentrated longs. List of 20 longs is here.
Monday, Nov 253:53 AMGE expects software fix for engine ice problem by March
Monday, Nov 253:53 AM| 3 Comments
- GE (GE) expects to have developed a software solution by March to the problem of ice building up in its GEnx engines, which are used on Boeing (BA) 747-8 and 787 aircraft.
- Boeing aircraft flying through thunderstorms at high altitudes have experienced temporary losses of thrust six times since April because of the ice build-up. While all the planes landed safely, Japan Airlines has pulled the 787 from certain routes. (Previous)
- Meanwhile, GE has won two contracts worth 1.7B Saudi riyals ($453M) from Saudi Electricity Co to maintain gas turbines at new power plants in Riyadh. The deal will run for eight "basic" years and 17 optional years.
- The bookings add to a deal last week in which GE will supply SEC with 12 gas units and four steam turbines.
Saturday, Nov 237:48 PMBoeing cautions airlines on GE engine icing risk
Saturday, Nov 237:48 PM| 7 Comments
- Boeing (BA) has warned airlines to avoid flying 747-8s and 787s equipped with General Electric's (GE) GEnx engines in high-level thunderstorms, Reuters reports.
- Apparently, there have been six incidents this year involving "temporary loss of thrust" due to an accumulation of ice crystals.
- "The aviation industry is experiencing a growing number of ice-crystal icing encounters in recent years," GE says.
Friday, Nov 221:48 PMGE to close NY capacitor plant
Friday, Nov 221:48 PM| 18 Comments
- General Electric (GE +0.3%) is set to close an electrical capacitor plant located north of Albany, NY in a move that will affect some 200 union workers.
- The company says a union proposal that would have saved the plant "fell well short of the savings and efficiencies that would be generated" by a move to Clearwater, FL, where operations will be conducted after the site in northern NY is closed.
- The NY location will remain open at least through next September.
Wednesday, Nov 203:35 PMGE wins turbine contract worth more than half a billion: Reuters
Wednesday, Nov 203:35 PM| Comment!
- General Electric (GE -0.4%) wins a $560M supply contract with Saudi Electricity Co. for gas and steam turbines, Reuters says, citing sources.
- Saudi Arabia is spending heavily to keep up with rising electricity demand.
- Although the deal was announced today, the company which won the contract was not officially disclosed.
Wednesday, Nov 208:04 AMGE Capital Real Estate to acquire billions in loans
Wednesday, Nov 208:04 AM| 6 Comments
- GE Capital Real Estate will acquire $2.3B in performing U.K. commercial mortgages from Deutsche Postbank AG (DEUPF).
- The deal means GE's real estate business should grow at well more than double last year's rate even as total assets are still around half of what they were at the height of the financial crisis.
Monday, Nov 188:22 AMCareFusion to acquire GE Healthcare unit in $500M deal
Monday, Nov 188:22 AM| Comment!
- CareFusion (CFN) is set to acquire GE Healthcare's Vital Signs unit for $500M.
- CFN sees synergies from the deal hitting $10-15M/year (pre-tax) by FY17.
- The Vital Signs business generates annual revenue of ~$250M and should help cement CFN as a top player in respiratory and anesthesia consumables. (PR)
Sunday, Nov 179:06 PMGE gets $26B in jet engine deals at Dubai Air Show
Sunday, Nov 179:06 PM| 1 Comment
- Emirates' deal for 150 Boeing 777X twin-engine jets translates to a record commercial jet engine award for General Electric (GE).
- The airline will acquire 300 GE9X engines, in a deal worth in excess of $11B at list.
- In addition, Etihad's order of 56 Boeing wide-bodies works out to $3B in additional orders for GE engines, including the GE9X, the GEnx-1B, and the GE90-115B. The OnPoint solution agreements the company inked with Etihad are worth an extra $8B.
- Finally, Qatar's order for 50 777Xs means another $3.8B in GE9X engines. (PR)
- For more coverage of the Dubai Air Show, see here.
Sunday, Nov 173:45 AMBoeing launches 777X with deals worth $95B
Sunday, Nov 173:45 AM| 16 Comments
- In what is the largest product launch by dollar value in commercial jetliner history, Boeing (BA) has officially unveiled the next-generation 777X at the Dubai Air Show.
- Boeing has received bookings and commitments worth $95B at list prices for 259 jets from four customers in Europe and the Middle East.
- Emirates has ordered 150 airplanes with an option for 50 more, Lufthansa wants 34 aircraft, Qatar Airways 50, and, as noted already, Etihad Airways 25.
- The deals also represent a windfall for GE (GE), which is supplying the engines for the plane.
- The 777X family includes two models: the 777-9X and the 777-8X.
- The 9X will seat over 400 passengers and have a range of more than 8,200 nautical miles (15,185 km). The aircraft will have the "lowest operating cost per seat of any commercial airplane," Boeing says.
- The 8X will seat 350 passengers and offer a range exceeding 9,300 nautical miles (17,220 km). (PR)
- Meanwhile, Boeing has obtained an order for up to 111 737 jets from flydubai in a deal worth $11.4B at list prices. (PR)
Friday, Nov 159:24 AMGE says retail finance IPO set for 2014|Friday, Nov 159:24 AM| 14 Comments
Thursday, Nov 1412:33 PMRailroads seek tank-car upgrades
Thursday, Nov 1412:33 PM| 3 Comments
- U.S. railroads are asking safety regulators to require that all existing tank cars carrying crude oil, ethanol and other flammable liquids be modified or upgraded to better withstand accidents or be aggressively phased out of service.
- Railroads are increasingly worried about potential liability after two crude-by-rail accidents in Quebec last July and in Alabama last week, as crude oil shipments on the major freight railroads have ballooned to a projected 400K carloads this year.
- The tank car industry has estimated the cost of retrofitting existing tank cars with steel shields on both ends and metal tank jackets to resist punctures at ~$1B.
- Among tank car manufacturers and leasing companies: TRN, ARII, GMT, GE.
Wednesday, Oct 309:38 AMRussian cement factory to implement 12th GE gas engine|Wednesday, Oct 309:38 AM| Comment!
Tuesday, Oct 298:18 AMVietnam Airlines places engine order with GE|Tuesday, Oct 298:18 AM| Comment!
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