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May 5, 2014
10:34 EDTC, GE, UTX, BEAV, HONAnalysts weigh in after BE Aerospace begins exploring sale
Shares of BE Aerospace (BEAV) are climbing after the company announced that it was exploring strategic alternatives, including a possible sales of the company. Analysts at Jefferies and Deutsche Bank had very different outlooks on the company following the news. WHAT'S NEW: BE Aerospace yesterday said that it would explore strategic alternatives meant to increase shareholder value. The company stated that it could elect to sell itself, or spin-off or sell a number of its businesses. Other strategic transactions may also be pursued, added the company, which noted that it had hired Citigroup (C) as its financial advisor and Shearman & Sterling as its legal advisor in connection with this process. ANALYST REACTION: BE Aerospace could be sold for about $107 per share, wrote Jefferies analyst Howard Rubel in a note to investors earlier today. The company could appeal to a strategic partner because of recent innovations that have enabled it to increase its market share, according to Rubel. Moreover, BE Aerospace has strong relationships with its customers and is benefiting from the growing importance that airlines attach to the interior of their planes, added the analyst, who increased his price target on the shares to $107 from $85 and kept a Buy rating on the stock. Another firm, FBR Capital, said it views BE Aerospace as a "very attractive asset" since it is the market leader in both the commercial aerospace OEM supply-chain and aftermarket end-markets. The firm thinks both strategic buyers and private equity could be interested and said it can "easily see" a multi-bidder situation developing now that the company is exploring alternatives. FBR has an Outperform rating on the stock. Conversely, Deutsche Bank analyst Myles Walton wrote that an acquisition of BE Aerospace would be quite expensive and that potential acquirers may find it difficult to make such a purchase profitable. Additionally many companies that could potentially buy BE Aerospace - including GE (GE), Honeywell (HON), and United Technologies (UTX) - would not be interested in doing so, the analyst believes. Walton kept a Hold rating on BE Aerospace. PRICE ACTION: In early trading, BE Aerospace shares jumped 11.2% to $98.92.
News For BEAV;GE;HON;UTX;C From The Last 14 Days
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November 23, 2015
16:02 EDTGEOptions Update; November 23, 2015
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12:26 EDTHON, UTX, GECredit Suisse removes General Electric from focus list after recent run-up
Shares of global industrial giant General Electric (GE) are lower in afternoon trading after Credit Suisse's Investment Policy Committee removed the company's shares from the U.S. Focus List. WHAT'S NEW: In a note to investors this morning, Credit Suisse analyst Julian Mitchel and team noted that the firm's Investment Policy Committee removed GE shares from the U.S. focus list after the recent upward move in shares. The firm, which added GE shares to its Focus List on September 16, said the catalysts that it highlighted at that time are now largely reflected in the share price. WHAT'S NOTABLE: Although it removed GE from its U.S. and Global Focus lists, Credit Suisse maintained its Overweight rating on shares and increased its price target to $34 from $31. The firm sees GE as just starting to accelerate measures to drive up its gross margins, whereas its sector peers have already been splitting, spinning off or selling assets to enhance their profit margins higher for years. With GE selling most of its capital intensive and low-to-no growth Capital business while redirecting capital to higher growth and higher margin industrial business, Credit Suisse said shares deserve a higher premium than its peers Honeywell (HON) and United Technologies (UTX). PRICE ACTION: Shares of General Electric are down 0.65% to $30.46 in midday trading.
09:39 EDTGEActive equity options trading on open
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07:16 EDTGEGeneral Electric removed from the U.S. Focus List at Credit Suisse
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07:11 EDTGEGE to sell U.K. Home Lending Portfolio to Blackstone, TSSP, and CarVal
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November 20, 2015
14:11 EDTBEAVBE Aerospace initiated with an Outperform at Wolfe Research
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07:30 EDTGEUBS to hold a conference
Industrials & Transportation Conference is being held in Boca Raton, FL on November 18-20 with webcasted company presentations to begin on November 20 at 8 am; not all company presentations may be webcasted. Webcast Link
07:16 EDTGEGE announces final Synchrony exchange offer results
GE (GE) announced the final results of its completed offer to exchange GE common stock for common stock of Synchrony Financial (SYF) previously owned by GE, which expired at 12:00 midnight, New York City time, on November 16, 2015. Because the exchange offer was oversubscribed, GE accepted only a portion of the shares of its common stock that were validly tendered and not validly withdrawn, on a pro rata basis in proportion to the number of shares tendered. All shares validly tendered and not validly withdrawn by eligible odd-lot shareholders who requested not to be subject to proration have been accepted. The final proration factor of 31.2870888% was applied to all other shares of GE common stock that were validly tendered and not validly withdrawn to determine the number of such shares that have been accepted from each tendering shareholder. Based on the final count by the exchange agent, Computershare Trust Company, N.A., the final results of the exchange offer are as follows: 31.2870888% of the tendered shares of GE common stock subject to proration exchanged; shares tendered that were subject to proration: 2,143,371,163; odd-lot shares tendered that were not subject to proration: 768,324; total number of shares of GE common stock accepted: 671,366,809.
November 19, 2015
16:00 EDTGEOptions Update; November 19, 2015
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07:30 EDTHONUBS to hold a conference
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07:12 EDTGECanadian Solar subsidiary closes financing for 100MW Astoria solar power project
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November 18, 2015
08:55 EDTCMorgan Stanley exec sees Q4 not much better than Q3 for banks, DJ reports
Morgan Stanley (MS) Institutional Securities President Colm Kelleher cautioned that fixed-income markets "still seem subdued," according to Dow Jones, citing his comments at an investment conference. Morgan Stanley was among the banks that reported lower revenue from fixed-income, currency and commodities trading during the third quarter and Kelleher said he doesn't think "the fourth quarter is going to be much better," the report noted. Large bank peers to Morgan Stanley include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
08:10 EDTGEGE's Power Services reports first GT13E2 MXL2 gas turbine upgrade order in Asia
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05:42 EDTCStora Enso Oyj appoints Citi as successor depositary bank for ADR program
Citi (C), acting through Citibank N.A., has been appointed by Stora Enso Oyj (SEOAY) as successor depositary bank for its Level 1 American Depositary Receipt, or ADR, program, which trades on the U.S. OTCQX marketplace under the symbol "SEOAY". Stora Enso's underlying ordinary shares are listed and trade on the NASDAQ OMX Helsinki Stock Exchange under symbol "STERV".
November 17, 2015
16:01 EDTGEOptions Update; November 17, 2015
iPath S&P 500 VIX Short-Term Futures up 1.32 to 21.07. Option volume leaders: GE BAC AAPL FB NFLX SYF WMT CSCO MU SUNE VRX BABA AMZN HD FCX
09:35 EDTGEActive equity options trading on open: AAPL FB GE HD
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09:27 EDTGESynchrony announces completion of separation from General Electric
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07:50 EDTCClearing House to hold a conference
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06:41 EDTGEGE's offer to exchange Synchrony's shares was oversubscribed by 3.2 times
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05:29 EDTGEGeneral Electric announces new Renewable Energy business
GE introduced its new Renewable Energy business at the European Wind Energy Association's 2015 Annual Event in Paris. The new unit significantly expands GE's wind portfolio in the wake of its recent acquisition of Alstom's power and grid businesses. The new business expands GE's global wind footprint to more than 30,000 turbines worldwide and significantly increases its presence in regions like Europe and Latin America. In Europe alone, GE's installed base will grow by approximately 50% as a result of the deal. In addition, GE Renewable Energy is welcoming a new offshore wind unit into the portfolio. Featuring new Haliade turbine technology, the offshore business has built a significant backlog of orders with EDF in France and has been selected for the Merkur offshore project in Germany. The Haliade technology will also be featured in the historic Block Island project, which is set to become the first offshore wind farm in the United States. Construction is underway, and the project will begin operation next year. Customers can also expect to see service-related benefits resulting from the acquisition. GE Renewable Energy plans to extend its services capabilities across both existing fleets, with an emphasis on using cutting-edge digital and analytics capabilities to help customers improve productivity and increase power output. Earlier this year, GE launched its Digital Wind Farm, which aims to create a digital infrastructure for the wind industry. The Digital Wind Farm harnesses the analytics power of the GE Store and is powered by Predix, the secure software platform for the Industrial Internet.
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