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Stock Market & Financial Investment News

News Breaks
April 30, 2014
06:16 EDTALSMY, GE, SIAlstom says 'considering' acquisition of Energy unit by GE
The Board of Directors of Alstom (ALSMY) announced that it has received a binding offer from General Electric (GE) to acquire its Energy activities. The scope of the transaction includes the Thermal Power, Renewable Power and Grid Sectors, as well as corporate and shared services. With 65,000 employees, these businesses registered EUR14.8B in sales in FY12/13. The proposed price is a fixed price representing an Equity Value of EUR12.35B. Should this offer be approved and completed, Alstom would refocus on its Transport activities. Alstom would use the sale proceeds to strengthen its Transport business and give it the means of an ambitious development, pay down its debt and return cash to its shareholders. The Board of Directors of Alstom, acknowledging unanimously the strategic and industrial merits of this offer and having noted the publicly announced undertakings by GE, has decided to set up a committee of independent directors, led by Jean-Martin Folz, to review before the end of May the proposed transaction. In the context of this binding offer, Alstom may not solicit offers from third parties for the acquisition of all or part of its Energy business. It has however reserved the right to respond to unsolicited offers for its entire Energy business and engage in discussions with bidders demonstrating a serious interest that could lead to a superior offer for Alstom. If, after having recommended GE’s offer, following its review, the Board of directors were to support another transaction, Alstom would owe GE a break-up fee equal to 1.5% of the purchase price. The Board also reviewed a declaration of interest received from Siemens (SI), regarding an alternative transaction. Siemens will have a fair access to information needed to make, should it decide to do so, a binding offer. This declaration will be reviewed in light of Alstom’s corporate interest and the interest of all stakeholders, in accordance with the commitments made.
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July 18, 2014
09:51 EDTGESynchrony Financial files 125M share IPO, sees pricing $23-$26 per share
Synchrony Financial (SYF), the planned spin-off from GE Capital (GE), is offering 125M shares of its common stock in its initial public offering and anticipates that the IPO price of the shares will be between $23.00 and $26.00 per share. Its shares of common stock have been authorized for listing on the New York Stock Exchange under the symbol “SYF,” the company disclosed in a filing.
09:29 EDTGEGE estimates $2B income dividend, $1B special dividend from GE Capital
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09:26 EDTGEGeneral Electric says does not like to discuss dispositions until announced
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09:24 EDTGEOn The Fly: Pre-market Movers
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09:14 EDTALSMY, GEGE says not done with divestitures, likes current Oil & Gas portfolio
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08:58 EDTGEGeneral Electric says U.S. challenges persist in Healthcare
Reports Q2 Healthcare segment orders flat at $4.8B, with emerging markets up 7%, Europe up 2% and U.S. down (2%). GE cites caution from Affordable Care Act impacting U.S. activity in Healthcare segment.
08:43 EDTGE, ALSMYGeneral Electric says orders, backlog give confidence in second half
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07:48 EDTGEGE sees FY14 revenue flat to up 5%, consensus $148.59B
General Electric says its total year framework remains on track. GE expects strong Industrial segment growth and margin expansion in 2014. Says on track to lower Corporate expense about $500M. Sees FY14 Industrial segment organic growth 4%-7%; GE Capital flat to (5%). Comments and guidance from slides for Q2 earnings call.
07:37 EDTGEGeneral Electric reports Q2 orders up 4% to $25.1B
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06:36 EDTGEGE says it is targetting IPO of North American Retail Finance business for July
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06:34 EDTGEGE CEO Jeff Immelt: The environment continues to be generally positive
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06:33 EDTGEGeneral Electric reports backlog of equipment and services at Q2-end $246B
Reports ENI was at $371B at Q2-end, down $2.4B from last quarter. General Electric Capital Corporation’s estimated Tier 1 common ratio rose 51 basis points from the year-ago period to 11.7%, and net interest margin was strong at 5%.
06:32 EDTGEGeneral Electric reports Q2 Industrial segment profit up 9% to $4.2B
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06:31 EDTGEGeneral Electric reports Q2 EPS 39c, consensus 39c
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July 17, 2014
15:39 EDTGEGeneral Electric July 27 straddle priced for 2.3% move into Q2
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15:26 EDTGENotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include General Electric (GE), consensus 39c; Honeywell (HON), consensus $1.36; Bank of New York Mellon (BK), consensus 56c; Johnson Controls (JCI), consensus 83c; V.F. Corporation (VFC), consensus 35c; Kansas City Southern (KSU), consensus $1.17; Autoliv (ALV), consensus $1.55.
14:04 EDTGEGeneral Electric technical comments ahead of results
The shares have traded essentially flat in the prior three months within a very narrow range. The bounds of that trading range are from $26.20 at the low to $27.53 at the high, with the bulk of the range from $26.20 to $27. Stocks that trade in such narrow ranges over this length of time are typically setting up for a break of the range and a larger move that will persist. In this case a decisive break below $26 and a breakout above $27.53 would be all that is required. If the news is more positive than expected, resistance above the range high as an upside objective would be at $28.09, the 52-week high, and then at $30.29. If the news disappoints, a break below $26 would see $24.94 and then $23.89 as next supports.
13:18 EDTALSMY, GEEarnings Preview: General Electric shares little changed since Q1 report
General Electric (GE) is expected to report second quarter earnings on Friday, July 18 before the market open with a conference call scheduled for 8:30 am ET. General Electric is a globally diversified technology and financial services company serving customers in more than 100 countries. EXPECTATIONS: Analysts are looking for earnings per share of 39c on revenue of $36.3B, according to First Call. The consensus range for EPS is 38c-40c on revenue of $35.99B-$36.72B. LAST QUARTER: General Electric reported first quarter adjusted EPS of 33c against estimates for 32c on revenue of $34.18B against estimates for $34.36B. CEO Jeff Immelt said, “We’re off to a good start to the year, and our 2014 framework remains unchanged. The environment is consistent with our expectations, with a positive bias.” During GE’s Q1 earnings call, management said the U.S. market gets "a little better every day," and Europe is improving. They said there was some improvement in demand for credit in Q1. They noted the company was on track to reduce share count in 2014, and on track to achieve its margin goal in 2016. The company expected to make gains from divestitures in its industrial portfolio. In June, GE finalized a deal to purchase the Power and Grid businesses of Alstom (ALSMY), after fending off rivals Siemens (SIEGY) and Mitsubishi Heavy Industries. STREET RESEARCH: Street research has been light in the weeks leading up to GE's Q2 earnings report. On May 12, Barclays upgraded the U.S. Multi-Industry sector to Positive from Neutral. The firm's data indicated that Fed policy had extended the cycle, driving up capital spending and corporate confidence. PRICE ACTION: GE shares traded marginally higher following its Q1 report, but currently sit at approximately the same level as they did three months ago. Over the past twelve months, the stock has gained about 13%. In early afternoon trading ahead of tomorrow's Q2 report, GE shares are down almost 1% to $26.76.
09:23 EDTGEGE's CFM JV says signed $21.4B in new deals at Farnborough Air Show
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08:52 EDTGEGE, JV companies garner over $36B in orders/commitments at Farnborough Air Show
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