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Stock Market & Financial Investment News

News Breaks
January 17, 2013
12:17 EDTGEEarnings Preview: General Electric sees margin expansion in Q4
General Electric (GE) is expected to report Q4 earnings on Friday, January 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 EPS of 43c on revenue of $38.74B, according to First Call. The consensus range for EPS is 42c-44c on revenue of $37.99B-$40.01B... LAST QUARTER: General Electric reported Q3 EPS of 36c against estimates for 36c on revenue of $36.3B against estimates for $36.89B. During its Q3 earnings call, the company lowered its 2012 revenue growth view to 3% from 5%, excluding NBCU pretax gains. 2012 industrial organic growth was seen at about 10%. Management did forecast margin expansion in Q4, and said the company was on track for a 100 bps margin improvement in 2012-13. On December 14, GE raised its dividend 12% and boosted its share repurchase authorization by $10B, a clear indication it expects positive results going forward. STREET RESEARCH: Street research has been light in the weeks leading up to GE's Q4 earnings report. On December 19, UBS removed GE from its U.S. Key Call list based on expectations for weaker than expected near-term earnings growth. PRICE ACTION: GE shares fell approximately 13% following the company's Q3 report, moving off their 52-week high of $23.18. However, since mid-November, the stock has gained about 6%. In early afternoon trading ahead of tomorrow's Q4 report, GE shares are up 0.43% to $21.21.
News For GE From The Last 14 Days
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June 30, 2015
06:32 EDTGEGE agrees to offer terms for European sponsor finance sale to SMBCE
GE announced that Sumitomo Mitsui Banking Corporation Europe, a wholly owned subsidiary of Sumitomo Mitsui Banking Corporation has made an agreed offer to acquire GEís European Sponsor Finance business for approximately $2.2B. GE Capital will retain its $1B investment in the European Senior Secured Loan Programme and European Loan Programme, both joint ventures between affiliates of GE Capital and affiliates of Ares Capital. When completed, the portfolio, which represents about $2.2B of ENI, will contribute approximately $400M of capital to the overall target of approximately $35B of dividends expected to GE under this plan. The transaction is subject to customary regulatory approval. It is expected to close in the third quarter of 2015. Bank of America Merrill Lynch and Citigroup Global Markets provided financial advice to GE and Clifford Chance provided legal advice. Since the April 10 announcement, GE has signed agreements to sell about $23B, including the European Sponsor Finance deal announced today with ENI of $2.2B. Other sales during the quarter include $1.2B of loans in our UK Home Lending portfolio, plus the previously announced $8.6B global Fleet Services business and the approximately $11B U.S. Sponsor Finance business. In addition, during the quarter, the sale of GE Capitalís Budapest Bank to the Hungarian State closed on June 29 and GE Capital Real Estate closed, in total, approximately $15B of previously announced sales.
06:18 EDTGESumitomo Mitsui close to deal to buy GE's European PE finance unit, WSJ reports
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June 29, 2015
08:04 EDTGEBlackstone Mortgage completes acquisition of GE loan portfolio
Blackstone Mortgage (BXMT) announced that it has completed the acquisition of substantially all of the GE (GE) Capital Real Estate mortgage loan portfolio.
05:21 EDTGEGE to sell majority of fleet businesses to Element Financial for $6.9B
GE announced that it has reached an agreement to sell its U.S., Mexico, Australia and New Zealand fleet businesses to Element Financial for $6.9B. Separately, GE has signed a memorandum of understanding for the potential sale of its European fleet businesses to Arval, a fully owned subsidiary of BNP Paribas. Arval and GE will now consult with their respective works councils. The transactionsí completion will also be subject to customary regulatory and other local corporate or antitrust approvals. Both transactions represent an aggregate of about $8.6B of ending net investment, approximately $6.0B to Element and about $2.6B to Arval. This brings GE Capitalís total announced sales to about $63B to date. GE is on track to execute sales of $100B by the end of 2015. The transactions would, if completed, contribute approximately $1.8B of capital to the overall target of approximately $35B of dividends expected to GE under this plan. The U.S. and Mexico transaction is expected to close in Q3, and the A&NZ transaction in Q4, subject to customary regulatory and other approvals. If approved, the Arval transaction is targeted to close in Q4.
05:19 EDTGEGE to sell majority of fleet businesses to Element Financial for $6.9B
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June 28, 2015
16:20 EDTGEGE requests July 2 hearing in EU to defend Alstom bid, Reuters says
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16:15 EDTGEElement Financial nears deal for GE fleet management unit, Reuters says
Element Financial is nearing a deal for a large portion of General Electric's fleet-management unit, Reuters reported Friday, citing three sources familiar with the matter. The agreement could be sealed as soon as late June, said the sources, who added that Element is mostly targeting the North American portion of the fleet business. Reference Link
June 26, 2015
06:12 EDTGEGeneral Electric to invest in Austrailan windfarm
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June 25, 2015
14:27 EDTGECapital One, Apollo, Ares, Ventas bid for GE healthcare lender, Bloomberg says
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10:31 EDTGECA Technologies appoints Jeff DeMarrais as Chief Communications Officer
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06:15 EDTGEElectrolux CEO to step down 'on his own initiative,' Reuters reports
Electrolux (ELUXY) CEO Keith McLoughlin will step down from the company "on his own initiative," Reuters reports, citing comments from business daily Dagens Industri. Elextrolux says McLoughlin, who moved to the U.S. from Sweden a few years ago, has not yet resigned, but also noted that "all well-run public companies conduct succession planning." According to Dagens Industri, GE Appliances (GE) head Charles Blankenship would be the "top candidate" to succeed McLoughlin. Reference Link
June 24, 2015
18:16 EDTGEGoogle, GE, Airbus lead in sheer number of meetings with EU officials
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16:47 EDTGEGeneral Electric reaches preliminary labor agreements with union delegates
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June 23, 2015
13:02 EDTGESumitomo, others show interest in GE railway-leasing business, WSJ says
Japan's Sumitomo Mitsui Financial Group is interested in buying General Electric's (GE) railway-leasing business, says the Wall Street Journal, citing sources. Wells Fargo (WFC) and other U.S. financial institutions have also shown interest in GE Capital Rail Services, which may be worth around $4B, added the Wall Street Journal, citing people familiar with the matter. Reference Link
09:36 EDTGEActive equity options trading on open
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June 22, 2015
09:54 EDTGEGeneral Electric and Cascade announce multi-year joint development agreement
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08:09 EDTGEGeneral Electric 2018 EPS should surpass $2, says Bernstein
After meeting with GE's CFO, Bernstein predicts that the company's 2018 EPS will surpass the $2 it says is often cited as a target for the company. The firm says that synergies with Alstom appear to be progressing well, while its gross margin initiatives are also progressing. Bernstein says that GE is making progress on many fronts. It keeps an Outperform rating on the stock.
06:18 EDTGESuppliers worried about Airbus, Boeing production rate hike, Reuters reports
Major engine suppliers, including General Electric (GE) and Safran, are becoming worried that they may lose out if they invest to meet higher commercial jet production targets from Airbus (EADSY) and Boeing (BA) that may prove unsustainable, Reuters reports. Airbus and Boeing have plans to raise production rates of their best selling single aisle planes by 25% to 50-52 a month in 2017-2018, the report says. Suppliers have said that they need to secure the start of a steep rise in output before making a commitment to even loftier targets, the report says. Reference Link
05:13 EDTGEGeneral Electric, unions reach tentative agreement on new contracts
General Electric reached tentative agreements on new labor contracts with national leaders of its two largest unions, the IUE-CWA and the United Electrical, Radio and Machine Workers of America, or UE, after three weeks of negotiations. The agreements are now subject to review by union negotiating committees and ratification by union members. GEís existing four-year national contracts with the IUE-CWA and the UE expire at midnight. The four-year job packages provide improvements in healthcare, wages, pension and job and income security. The contract provisions will also be extended to additional unions that have local contracts with GE.
June 19, 2015
07:00 EDTGEGE Capital Aviation Services launches Boeing 737-800NG program
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