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General Electric Still Dow’s Worst Performer
Exclusive: GE exploring industrial gas engine business sale - sources
- General Electric Co (GE) is exploring a sale of its industrial gas engine business that could be worth as much as $2 billion, according to people familiar with the matter.
GE faces shareholder lawsuit over insurance shortfall, SEC probe
General Electric Co(GE) was sued on Friday by a shareholder who accused the conglomerate of concealing mounting insurance liabilities and a U.S. Securities and Exchange Commission probe, saying it cost shareholders tens of billions of dollars.
Shareholders sue GE over SEC investigation, insurance charges
NEW YORK, Feb 16 (Reuters) - Shareholders filed a proposed
class-action lawsuit against General Electric Co on
Friday, alleging the industrial conglomerate made misleading
statements and failed to disclose information about an
accounting investigation and about insurance policies that cost
the company billions of dollars.
BRIEF-GE Agrees To Sell Lighting Business In Europe, Middle East, Africa, Turkey, And Co's Global Automotive Lighting ...
General Electric Co(GE): * GE - AGREEMENT TO SELL LIGHTING BUSINESS IN EUROPE, MIDDLE EAST, AFRICA, TURKEY, AND CO'S GLOBAL AUTOMOTIVE LIGHTING UNITS, TO ENTITY CONTROLLED BY JOERG BAUER. * GE - THE PROPOSED TRANSFER OF THE EMEA AND GLOBAL AUTOMOTIVE LIGHTING BUSINESS IS EXPECTED TO OCCUR IN PHASES THROUGH THE END OF JUNE 2018ââ Further company coverage:
BRIEF-GE Reached Deal To Sell Parts Of Overseas Lighting Business To Ex-Executive- WSJ
* GENERAL ELECTRIC REACHED DEAL TO SELL PARTS OF ITS OVERSEAS LIGHTING BUSINESS TO FORMER EXECUTIVE FOR AN UNDISCLOSED AMOUNT- WSJ. * DEAL INCLUDES GE LIGHTING IN EUROPE, MIDDLE EAST, AFRICA AND TURKEY, BUYER IS CO CONTROLLED BY JOERG BAUER- WSJ Source http://on.wsj.com/2Coo7Q7.
GE's chief communications officer Deirdre Latour to leave company
General Electric Co(GE) said on Wednesday that its chief communications officer and senior adviser, Deirdre Latour, would be leaving the company in mid-March to pursue other opportunities. Linda Boff, GE's chief marketing officer, will take on the added responsibilities as interim head of communications, until a replacement is found, the industrial goods conglomerate said.
Dow's 400-point afternoon rally powered by Boeing and Apple's stocks, shares add 120 points
The Dow Jones Industrial Average on Monday was rising by more than 400 points, as the blue-chip benchmark was buoyed by solid gains in shares of Apple Inc. and Boeing Co. The pair of Dow components were contributing more than 120 points to the Dow . The average was up $11.25, or 3.4%, at 344.14, while shares of Apple rose 4%, or $6.15, to $162.55. A $1 move in any one of the Dow's components equates to a 6.83-point swing in the price-weighted average. Shares of General Electric Co. was the only laggard among Dow components. The Dow was recently up 444 points, or 1.8%, at 24,631, as the benchmark attempted to post its second straight gain after U.S. stocks got rocked last week, putting in their worst stretch of gains since early 2016, with all of the main benchmarks posting a loss of at least 5% for the week. Most recently, the S&P 500 index , meanwhile, was up 1.5% at 2,659, while the Nasdaq Composite Index advanced 1.6% at 6,983. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
GE's stock pares gains; J.P. Morgan analyst gets more bearish
Shares of General Electric Co. ticked up 0.2% in morning trade, paring earlier gains of as much as 1.3%. J.P. Morgan analyst Stephen Tusa cut his stock price target to $14 from $16, while reiterating the underweight rating he's had on the stock since May 2016, citing continued underperformance in its businesses, challenged fundamentals and lack of many signs of a "snap back." He said he expects an "expedited evolution of outcomes" at GE, after the company said it was evaluating portfolio structure. He said it's possible the company will stay in its current form and "grind it out," but he believes there is more "urgency" to GE's situation given the recent weakness in GE bonds and balance sheet challenges. He said there is a risk of an equity raise, as it would help boost its balance sheet and would shield the company from increased capital markets volatility. "In other words, it's either a steady grind in uncertain markets, with risk that things get more extreme in more volatile capital markets, or it's a change in structure to try and de-risk, and simplify the portfolio to grow it in a more focused way in the future, and we see a bit of a mix," Tusa wrote in a research note. The stock has plunged 26.9% over the past three months, while the Dow Jones Industrial Average has gained 4.2%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
General Electric Remains Dow’s Worst Performer After Market’s Bad Week
UPDATE 1-U.S. drillers boost oil rig count to highest nearly 3 years -Baker Hughes
(Adds rigs in Permian basin)
By Scott DiSavino
Feb 9 (Reuters) - U.S. energy companies added 26 oil rigs
this week, boosting the count to 791, its highest since April
2015, even as crude pulled back from three-year highs with
drillers expecting higher prices for their output in 2018 than
The increase in the week to Feb. 9 was the biggest weekly
rise since January 2017, General Electric Co's Baker
Hughes energy services firm said in its closely followed report
BRIEF-GE Board Authorizes Regular Quarterly Dividend
* GENERAL ELECTRIC CO - EX-DIVIDEND DATE IS FRIDAY,
Source text for Eikon:
Further company coverage:
LPC: US corporate spinoffs to boost bank lending
NEW YORK, Feb 8 (Reuters) - Bankers are gearing up to
finance an expected wave of new spinoff deals as US companies
such as General Electric and Honeywell International consider
shedding businesses to streamline and enhance profitability
after a busy January for mergers and acquisitions (M&A).
UPDATE 1-Argentina's YPF says to sell stake in electricity subsidiary to GE
BUENOS AIRES, Feb 7 (Reuters) - Argentina's state-owned oil
company YPF SA said on Wednesday it has reached a deal
to sell a 24.99 percent stake in its electricity generation unit
to U.S. industrial conglomerate General Electric Co.
U.S. drillers add oil rigs for second consecutive week -Baker Hughes
Feb 2 (Reuters) - U.S. energy companies added oil rigs for a
second week in a row as crude prices hovered near their highest
levels since 2014, prompting drillers to return to the well pad.
Drillers added 6 oil rigs in the week to Feb. 2, bringing
the total count up to 765, the highest level since August 2017,
General Electric Co's Baker Hughes energy services firm
said in its closely followed report on Friday.
The U.S. rig count, an early indicator of
Facing new scrutiny, powerful utility turns to old friends
Dominion Energy is relying on longtime allies in the Virginia General Assembly as it faces unprecedented scrutiny of its political influence and hard questions about whether most Virginians' monthly electric bills are higher than they need to be.
General Electric Woes Anchor Stock as Dow’s Worst for the Year
U.S. drillers add most oil rigs in a week since March -Baker Hughes
Jan 26 (Reuters) - U.S. energy companies added 12 oil rigs
this week, the biggest weekly increase since March, as crude
prices hovered near their highest levels since 2014, prompting
drillers to return to the well pad.
Drillers boosted the rig count to 759 in the week to Jan.
26, the highest level since September, General Electric Co's
Baker Hughes energy services firm said in its closely
followed report on Friday.
The U.S. rig count, an early indicator
BRIEF-General Electric Says Jen Vanbelle To Lead GE Treasury Operations
* GENERAL ELECTRIC CO - JEN VANBELLE TO LEAD GE TREASURY
GE's stock tumbles toward biggest post-earnings decline in nearly 5 years
General Electric Co.'s stock tumbled 3.1% in afternoon trade Wednesday, putting it on track to suffer the biggest one-day post-earnings decline since first-quarter 2013 results were reported on April 19, 2013. On the day of the past 20 quarterly reports, the stock had declined 11 times, by an average of 1.7%. In comparison, the stock rose the day after nine of the past 20 quarterly reports by an average of 2.4%. The stock is now on track to decline after eight of the past nine quarterly reports. Earlier, GE reported fourth-quarter results that missed expectations, and disclosed an investigation by the Securities and Exchange Commission into its accounting processes. CFRA analyst Jim Corridore reiterated his hold rating on GE, saying the company needs to hit 2018 targets on cost cuts, asset sales and improved earnings and cash flow before the rating can change. "We will look for progress before becoming more positive," Corridore said. GE shares have plummeted 45% over the past year, while the Dow Jones Industrial Average has climbed 31%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
GE says SEC investigating charge behind $10 billion loss
(Reuters) - General Electric Co said on Wednesday that U.S. securities regulators are probing a massive insurance charge it announced last week, a write-off that produced a $10-billion loss in the latest quarter.
UPDATE 5-GE says SEC investigating charge behind $10 bln loss
Jan 24 (Reuters) - General Electric Co said on
Wednesday that U.S. securities regulators are probing a massive
insurance charge it announced last week, a write-off that
produced a $10-billion loss in the latest quarter.
Wall Street boosted by bank stocks; probe drags GE
(Reuters) - U.S. stocks rose on Wednesday, driven by gains in bank stocks, while shares in General Electric fell after the company revealed a regulatory investigation of a multibillion-dollar insurance charge.
GE's stock turns lower after disclosure of SEC probe into insurance reserve increase
Shares of General Electric Co. turned lower in premarket trade Wednesday, after Chief Financial Officer Jamie Miller said in the industrial conglomerate's post-earnings conference call with analysts that the Securities and Exchange Commission was investigating the process that led to the large insurance reserve increase announced last week, according to a transcript provided by FactSet. Miller said the SEC was also looking into GE's revenue recognition and controls for long-term service agreements. Miller said the company is "cooperating fully" with the investigation, which she said is still in "the very early stages." The stock fell 0.5% in premarket trade, after being up as much as 5% after the company reported fourth-quarter results. The stock has tumbled 22.8% over the past three months through Tuesday, while the Dow Jones Industrial Average has climbed 10.5%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
General Electric Earnings Awful Again, CEO Promises More Cost Cutting
BRIEF-GE Posts Qtrly Cont Ops Loss Per Share $1.15
General Electric Co(GE): * QTRLY CONTINUING OPERATIONS LOSS PER SHARE OF $1.15. * QTRLY INDUSTRIAL OPERATING + VERTICALS LOSS PER SHARE $1.23. * QTRLY ADJUSTED INDUSTRIAL OP. * Q4 EARNINGS PER SHARE VIEW $0.29 -- THOMSON REUTERS I/B/E/S. * QTRLY TOTAL REVENUES $31,402 MILLION VERSUS $33,088 MILLION.
GE's stock surges despite surprise loss and revenue miss, as power and oil & gas revenue beats
Shares of General Electric Co. (GE) surged 1.8% in premarket trade Wednesday, after the industrial conglomerate reported a surprise fourth-quarter loss and missed revenue expectations, but beat revenue projections in its key power and oil and gas businesses. The net loss for the quarter was $9.83 billion, or $1.13 a share, compared with a profit of $3.49 billion, or 39 cents a share, in the same period a year ago. Excluding non-recurring items, the adjusted loss per share was $1.23,...
GE quarterly revenue drops 5 percent
- U.S. industrial conglomerate General Electric Co (GE) reported a 5 percent fall in revenue and a $10 billion loss for the fourth quarter on Wednesday, driven by an already revealed $11 billion charge for insurance losses and taxation.
Boeing completing 787-10 flight tests with GE engines
* First delivery with Rolls-Royce (RYCEF) engines in 1H. * United Airlines to get GE engines in 2H. * Boeing (BA) could boost range over time - exec. By Jamie Freed. Boeing Co (BA) has still to complete flight tests on the newly certified 787-10 Dreamliner with General Electric Co (GE) engines, but has finished tests with Rolls-Royce Holdings PLC (RYCEF) engines, a Boeing (BA) executive said on Tuesday.
GE's stock surges toward biggest one-day gain in over two years
General Electric Co.' s stock jumped 4.5% in afternoon trade Tuesday, to bounce sharply off a more than 6- year low a day before the industrial conglomerate reports fourth-quarter results. The one-day gain would be the biggest since Oct. 5, 2015, when it climbed 5.30% after activist investor Nelson Peltz disclosed a large share purchase, and after GE announced a deal to sell its corporate aircraft financing portfolio. GE is scheduled to report fourth-quarter results before...
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