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General Electric Company (GE)

  • Apr. 3, 2013, 8:19 AM
    GE's Power Conversion unit reportedly will announce $600M worth of contracts to supply propulsion, dynamic positioning, vessel automation and drilling systems under Brazil's ambitious rig-building program. The contracts are for the supply of propulsion systems on 22 ultra-deepwater rigs being built for Sete Brasil, the entity that will own the units and charter them to Petrobras (PBR).
  • Apr. 2, 2013, 10:01 AM
    Shares of Synthesis Energy Systems (SYMX +30.2%) skyrocket after the company reaches agreement with a General Electric (GE) unit to jointly evaluate and market a small scale power generation unit combining SYMX's gasification technology with GE's aeroderivative gas turbines.
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  • Mar. 21, 2013, 1:02 PM
    Dell (DELL -0.8%) slips to $14.22 as Andrew Ross Sorkin reports of sentiment that a Blackstone bid for Dell won't materialize. Separately, the WSJ reports Blackstone and GE's lending arm have discussed a joint bid for Dell's financial services unit, which originated $3.5B in loans in the company's last fiscal year. (yesterday)
  • Mar. 21, 2013, 6:55 AM
    General Electric (GE) sold $4B worth of NBCUniversal bonds received from Comcast as part of its payment for its stake in the broadcasting unit.The total deal price for the asset sale announced in February was $16.7B.
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  • Mar. 20, 2013, 7:21 AM
    General Electric (GE) might consider spinning off GE Capital at some point, according to CEO Jeff Immelt. The exec was clear in his comments that no plans are currently in the works to sell the financial services unit but opened up the potential to explore the option in the future.
  • Mar. 19, 2013, 11:32 AM
    General Electric's (GE +0.2%) unit GE Oil & Gas has inked a $620M, 22-year service agreement to provide a broad range of advanced technology services for QGC's Queensland Curtis LNG plant off the east coast of Australia. Under the terms of the contract, GE will provide planned and unplanned maintenance of GE equipment being installed at the plant.
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  • Mar. 18, 2013, 9:02 AM
    Boeing last week named GE (GE) as the engine partner for the 777X, which the plane-maker says will be more efficient and reliable. Previous generations of the 777 used engines from United Tech's Pratt & Whitney and Rolls Royce. The announcement came despite Boeing not yet having decided to fully proceed with the 777X program. (PR)
  • Mar. 15, 2013, 4:33 AM
    GE (GE) has reportedly received a surprise bid for its 25.3% stake in Thailand's Bank of Ayudhya (BAY) from Malaysia's Khazanah Nasional, pitting the sovereign wealth fund against Japan's Mitsubishi UFJ Financial Group (MTU). GE is selling the holding, which is worth $1.8B, as part of its strategy of offloading non-core assets, having already sold a 7.6% stake in BAY in September for $466M.
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  • Mar. 12, 2013, 8:21 AM
    Boeing's (BA) board may decide next month to start taking bookings for an updated 777, which would incorporate lightweight carbon-composite wings. Boeing is on the verge of deciding to offer airlines just GE engines for the plane rather than a choice, meaning that Rolls Royce would miss out. Separately, NTSB investigators are narrowing their 787 probe to the batteries rather than other components of the Dreamliner's electrical systems.
  • Mar. 12, 2013, 8:05 AM
    Jeff Immelt's salary package climbed 19% to $25.8M in 2012, including a $12.1M long-term performance bonus. The pay rise is partly for increasing GE's (GE) EPS, which was helped by stock repurchases of $5.2B last year. Still, GE also had a total shareholder return of 21%, surpassing the S&P 500's 16%. Meanwhile, three longtime board members are stepping down, although former Avon CEO Andrea Jung is standing for re-election.
  • Mar. 11, 2013, 2:15 PM
    General Electric (GE -0.7%) says it's agreed to examine expanding its cleanup of pollutants from a section of New York’s Hudson River after state Comptroller Thomas DiNapoli sought an investor vote on a study to widen the project. GE, which has already spent over $1B on cleanup efforts, discharged as much as 1.3M pounds of carcinogens into the river over a three-decade span, will complete a review this year to determine whether removing more contaminated dirt will help reduce future penalties.
  • Mar. 11, 2013, 10:12 AM
    GE (GE -1%) CEO Jeff Immelt says the conglomerate plans to return $18B to shareholders this year through dividends and buybacks," and allocate $100B to payouts over the next few years. In a letter to shareholders, Immelt also warns of "major political storms" that are likely to hurt capital investment, such as the debt-limit controversy and tax reforms.
  • Mar. 11, 2013, 9:52 AM
    GE (GE) nominates former SEC Chairperson Mary Schapiro to its board ahead of its annual meeting on April 24. Schapiro's "understanding of corporate governance and financial regulation will be of great benefit to GE and its shareowners," says GE CEO Jeff Immelt. Schapiro's nomination comes less than three months after she left the SEC.
  • Mar. 11, 2013, 8:21 AM
    GE (GE) wins contracts totaling $500M to provide power-generation equipment, technology upgrades and long-term services to the Emirates Aluminium smelter complex in Abu Dhabi. GE cites the deal as "an another example of the growing opportunities" for projects that use power primarily for industrial processes. GE's equipment will incorporate the "industrial Internet," which uses analytics to improve performance. (PR)
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  • Mar. 10, 2013, 5:00 AM
    With companies looking to avoid paying taxes on their profits, 83 of the largest firms kept $1.46T overseas in 2012, up 14.4% from the previous year, Bloomberg calculates. GE (GE) again had the most with $108B held offshore, up from $102B in 2011; Pfizer was second with $73B, after which came Microsoft (MSFT), Merck (MRK), Johnson & Johnson (JNJ) and IBM (IBM).
  • Feb. 26, 2013, 6:37 PM
    General Electric (GE) files a mixed securities shelf registration to sell, from time to time, shares of common stock, debt Securities, preferred stock, warrants, or any combination thereof. Shares -0.5% AH.
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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