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General Electric Company (GE)

  • Oct. 23, 2012, 4:33 AM
    General Electric (GE) has refinanced $5B worth of bonds that mature in February in order to minimize any impact from the fiscal cliff if it's not averted. "If it’s choppy, we are prepared,” CFO Keith Sherin said. The conglomerate used part of the $7B worth of bonds it raised earlier this month for the refinancing.
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  • Oct. 19, 2012, 9:17 AM
    More on GE's revenue growth cut kerfuffle: A look at the Q2 investor presentation does indeed show a full-year forecast of about 5% growth, while the Q3 presentation takes it down to about 3%. Asked about this on the conference call (webcast), Jeff Immelt says the reduction is coming from GE Capital. Shares -1.9% premarket.
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  • Oct. 19, 2012, 8:40 AM
    More on GE Q3 earnings: The company - in the presentation materials for its earnings conference call - lowers its full year revenue growth estimate to about 3% from a previous 5%. Given the year's almost over, it implies GE is expecting below-forecast results for Q4. Shares -2.5% premarket.
  • Oct. 19, 2012, 6:52 AM
    More on GE's Q3 earnings: Missed by $0.01? Where's Jack Welch when you need him? GE Capital profits +11% Y/Y on revenues -5% Y/Y - commercial lending & leasing a particular weak spot with revenues off 9%. Infrastructure orders of $21.5B off 5% Y/Y driven by a decrease in orders for wind turbines. Immelt: "The overall environment remains challenging." Shares -1.8% premarket. (PR)
  • Oct. 19, 2012, 6:31 AM
    General Electric (GE): Q3 EPS of $0.36 misses by $0.01. Revenue of $36.3B misses by $500M. (PR)
  • Oct. 19, 2012, 12:05 AM
    Notable earnings before Friday’s open: APD, BHI, BPOP, CALL, CBE, FHN, FNFG, GE, HON, IR, KSU, MCD, MMR, PH, SHAW, SLB, TCB
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  • Oct. 18, 2012, 5:30 PM
    Notable earnings before Friday’s open: APD, BHI, BPOP, CALL, CBE, FHN, FNFG, GE, HON, IR, KSU, MCD, MMR, PH, SHAW, SLB, TCB
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  • Oct. 15, 2012, 5:34 AM
    To help former soldiers fill advanced manufacturing positions, major corporations, community colleges and veterans organizations are forming a coalition called "Get Skills to Work" that will train the vets and assist them in translating their existing skills. The companies include GE, Alcoa (AA), Boeing (BA) and Lockheed Martin (LMT). GE CEO Jeff Imelt says it's not just patriotism that spurs the firms: "veterans are a perfect fit."
  • Oct. 9, 2012, 6:02 AM
    Companies are not only exploiting rock-bottom interest rates to issue more debt, but are also taking advantage by offering long-term paper. Companies have sold $91.9B of 30-year bonds in 166 deals this year, up from $73.2B in 145 offerings in 2011 and the most in any full year since 1995. Those feasting include GE, Comcast (CMCSA) and UPS.
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  • Oct. 8, 2012, 2:38 PM
    GE (GE -0.9%) and Chesapeake (CHK +0.9%) team up in an effort to make it easier to use compressed natural gas as a transportation fuel through a new "CNG In A Box" system, which can compress natural gas from a pipeline into CNG onsite at a traditional filling station or industrial location. The companies claim it can save fleet vehicle operators ~40% in fuel costs vs. gasoline.
  • Oct. 7, 2012, 5:38 AM
    The Financial Stability Oversight Council has put GE Capital (GE) in the third and final stage of a review to determine whether the firm should be designated as systemically important, and therefore subject to increased scrutiny and regulation, Bloomberg has reported. AIG is so far the only other non-bank in the final phase.
  • Oct. 5, 2012, 4:48 AM
    GE (GE) has attracted interested from Oversea-Chinese Banking Corp (OCBC) and Kuala Lumpur-based CIMB for its $1.6B, 25% stake in Thailand's Bank of Ayudhya, Bloomberg reports. The speculation comes after GE sold 7.6% of Ayudhya to institutional investors in September and said it was reviewing its "strategic” options for the remaining shares.
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  • Oct. 4, 2012, 12:22 PM
    Boeing (BA +0.1%) takes another hit to its troubled Dreamliner program, this time over more fallout from the plane's flawed General Electric (GE -0.1%) GEnx engine. There appears to be a material defect in the midfan shaft of the engine, and Qatar Airways is refusing to take delivery until the defects are sorted out. The Government-owned airline has 30 firm Dreamliner orders and was expected to take five deliveries this year.
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  • Oct. 3, 2012, 8:17 AM
    GE Capital Aviation Services (GE) finalizes an order for 75 737 MAX 8 jets and 10 Next-Generation 737-800 aircraft in a deal worth $6B at list prices. The booking, which was first announced at the Farnborough Airshow in July, allows for up to 15 additional 737-800s. To date, Boeing has received orders for 821 MAX airplanes. (PR)
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  • Oct. 2, 2012, 9:43 AM
    Qatar Airways CEO Akbar Al-Baker says the airline won't take delivery of Boeing (BA) 787 Dreamliners until GE (GE) has fixed a problem with its new GEnx engine for the aircraft following two failures, including one that led to an aborted takeoff. Qatar has ordered 30 787 jets and has an option for another 30. Al-Baker also refutes speculation that Qatar will join the One World Alliance, which includes AMR.
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  • Oct. 2, 2012, 5:23 AM
    GE (GE) has become the latest to take advantage of ultra-low interest rates to sell $7B worth of bonds in the third-largest corporate-debt sale this year and the conglomerate's first since 2007. GE sold $2B in 3-year paper at 0.859% vs. 0.308% for comparable Treasurys, $3B of 10-year bonds at 2.727% vs. 1.625%, and $2B in 30-year debt at 4.158% vs. 2.821%, the WSJ reports.
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Company Description
General Electric Co is a diversified company with products & services that range from aircraft engines, power generation, oil & gas production equipment, & household appliances to medical imaging, business & consumer financing and industrial products.
Country: United States