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Stock Market & Financial Investment News

News Breaks
January 20, 2014
10:01 EDTCAM, GECameron sells Compression unit, exploring sale of Centrifugal business
Cameron announced that it has entered into a definitive agreement under which it will sell its Reciprocating Compression business to GE (GE) for cash consideration of approximately $550M, subject to closing adjustments. Cameron also announced that it intends to explore strategic alternatives for its Centrifugal Compression business to further enhance the company's focus on its core businesses. The company intends to use the net cash realized from the divestiture of the Reciprocating Compression business to partially fund its existing share repurchase program. Cameron expects to complete the sale of its Reciprocating Compression business during Q3. As a result of this transaction, the company expects to recognize an after-tax loss of approximately $100M for financial reporting purposes, reflecting the write-off of non-deductible goodwill. Cameron estimates after tax proceeds from the sale of approximately $400M. Citi is acting as financial advisor to Cameron and Winston & Strawn and Baker Botts are acting as the company's legal counsel in connection with the divestiture of the Reciprocating Compression business. Citi is also assisting Cameron in the process of exploring strategic alternatives for its Centrifugal Compression business.
News For CAM;GE From The Last 14 Days
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September 2, 2014
11:01 EDTGEGE Intelligent Platforms receives $1.5M order from Sainsel
GE Intelligent Platforms announced that it has received orders from Sainsel Sistemas Navales of Madrid, Spain for a range of GEís rugged embedded computing systems that will be deployed as part of Sainselís aeronautics program. GEís boards will be used in new equipment developed by Sainsel as part of a mission system. Initial value of the order is $1.5M; long term value is expected to be $7M.
September 1, 2014
08:57 EDTGEGE Healthcare announces EU approval of Vizamyl
GE Healthcare announced that Vizamyl has received marketing authorization from the European Commission as a radiopharmaceutical medicinal product indicated for Positron Emission Tomography imaging of beta amyloid neuritic plaque density in the brains of adult patients with cognitive impairment who are being evaluated for Alzheimerís disease and other causes of cognitive impairment. Vizamyl is the only PET imaging tracer for detection of amyloid approved in Europe for visual interpretation of colour images and will be commercially available in selected European countries from early 2015, GE said.
August 29, 2014
15:13 EDTGEQuirky drops out of bidding to buy appliance unit from GE, Bloomberg says
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08:44 EDTGEQuirky drops out of bidding to buy appliance unit from GE, Bloomberg says
August 25, 2014
10:01 EDTGEHill-Rom reports settlement in patent infringement lawsuit with GE
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07:34 EDTGEBristow Group appoints Akiri Chief Corporate Development officer
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August 22, 2014
18:16 EDTGEGeneral Electric equipped 787 Dreamliner approved by regulators, WSJ says
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18:05 EDTGEGeneral Electric awarded $123.4M government contract
General Electric Company, Lynn, Massachusetts, has been awarded a maximum $123,409,100 firm-fixed-price contract for compressor parts. This contract is a sole-source acquisition. This is a five-year base contract, with no option periods. Location of performance is Massachusetts, with an Aug. 21, 2019 performance completion date. Using military service is Army. Type of appropriation is fiscal 2014 Army working capital funds. The contracting activity is the Defense Logistics Agency Aviation, Redstone Arsenal, Alabama.
08:01 EDTGEGE CFS, VNG.co to support expansion of CNG fueling infrastructure
GE Capital Fleet Services announced an agreement with VNG.co, a national CNG fueling facility provider, to support the expansion of the CNG refueling infrastructure for light-duty fleet vehicles. Through the agreement with VNG, GE Capital Fleet Servicesí customers will be able to take advantage of the increasing accessibility of CNG fueling stations, minimize overall fuel costs and meet financial and environmental objectives through the use of a lower cost, more stably priced, environmentally friendly and domestically sourced fuel.
August 20, 2014
08:11 EDTGEGE Healthcare Life Sciences announces new U.S. headquarters in MA
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August 19, 2014
17:31 EDTGEGE plans to invest $3.5B in aircraft engine unit, Nikkei says
General Electric plans to invest $3.5B in its aircraft engine business over the five years to 2017, as it looks to boost production, says Nikkei. Reference Link
06:22 EDTGEGeneral Electric in talks with Electrolux to sell appliance business, WSJ says
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