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Stock Market & Financial Investment News

News Breaks
June 20, 2014
08:04 EDTHES, GE, CRARY, MTUEIF acquires Hess Corp's 50% stake in GE-powered Newark Energy Center
Energy Investors Funds, an energy-focused private equity firm, announced today that two EIF-managed funds have indirectly acquired an additional 50% ownership stake in the Newark Energy Center from Hess Corporation (HES) using a $590M loan from Crédit Agricole Corporate and Investment Bank (CRARY), GE unit (GE) GE Energy Financial Services and Mitsubishi UFJ Financial Group (MTU). EIF-NEC, LLC, an entity jointly owned by the two EIF-managed funds, will use the loan to support the acquisition, construction and operation of the 705-megawatt power plant, which is being built using GE’s advanced combined-cycle, natural gas-fired turbine technology. With this acquisition, EIF-NEC now holds 100% of the equity interests in the Newark Energy Center. The three lenders served as co-lead arrangers and joint-book runners. Financial details of the transactions were not disclosed. The Newark Energy Center sits on 23 acres of brownfield industrial land in New Jersey, an optimal location with nearby gas supply and electrical interconnection point. The project has been under construction for nearly two years and is expected to begin commercial operations in May 2015. It will sell its energy and capacity into the PJM capacity market. Power Plant Management Services is managing construction, with NAES Corporation providing operations and maintenance and Direct Energy undertaking additional energy management services.
News For HES;GE;CRARY;MTU From The Last 14 Days
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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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August 18, 2014
07:07 EDTGEGeneral Electric reinstated with an Outperform at Credit Suisse
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August 14, 2014
17:41 EDTHESPoint72 Asset Management gives quarterly update on stakes
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17:16 EDTHESPaulson & Co gives quarterly update on stakes
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13:26 EDTGEGE evaluating 'wide range' of options for appliances unit, Bloomberg reports
General Electric (GE) says it is evaluating a "wide range" of options for its home appliance business, Bloomberg reports. According to a GE spokesperson, the company is holding discussions with Electrolux (ELUXY) and other parties. Consumer development startup Quirky is also said to be interested in the GE unit. Reference Link
12:25 EDTGEGE says evaluating 'range' of options for Appliances, Bloomberg reports
General Electric confirmed in an interview that its in talks with Electrolux AB (ELUXY) regarding the potential sale of its Appliances unit, Bloomberg reports. GE added its evaluating a "wide range of strategic options" for its Appliances unit.
11:22 EDTGEElectrolux confirms in talks to acquire GE Appliances
Electrolux (ELUXY) confirmed that it is in discussions regarding a possible acquisition of the appliances business of GE (GE). "No agreement has been reached, and there can be no assurances that an agreement will be reached. Any further announcements will be made in due course," Electrolux stated.
08:11 EDTGEGE Healthcare to use RTI Connext Middleware
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06:24 EDTHESLibya to restart exports from Es Sider oil port, WSJ reports
Libya will resume exports from Es Sider, its largest oil port, next week following a one-year disruption, sources tell the Wall Street Journal. Es Sider's preliminary loading plans involve six 60,000 barrel tankers drawing on oil stored at the terminal, split between state-owned National Oil Co, Hess (HES), ConocoPhillips (COP) and Marathon Oil (MRO). Reference Link
August 13, 2014
20:04 EDTGEGE appliance unit drawing interest from Electrolux, Quirky, Bloomberg says
General Electric's home appliance unit has drawn interest from Electrolux and Quirky, according to Bloomberg, citing two people with knowledge of the matter. General Electric's appliance unit is said to be worth about $2B, the sources added. Reference Link
19:35 EDTGEGE appliance unit drawing interest from Electrolux, Quirky, Bloomberg says
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August 12, 2014
08:18 EDTGEAs MetLife awaits SIFI decision, other non-banks get tough scrutiny, FT says
The Federal Reserve's scrutiny of AIG (AIG) and GE Capital (GE) since those non-banks were designated as systemic risks shows they are being regarded in the same manner as large banks, according Financial Times, citing people familiar with the process. Insurer Prudential Financial (PRU) was deemed a systemic risk last September and rival MetLife (MET) is waiting to see if it will be designated this year, the report noted. Reference Link
August 11, 2014
17:44 EDTGEGeneral Electric awarded $311.49M government contract modification
General Electric is being awarded a $311.49M modification to a previously awarded firm-fixed-price contract for the procurement of 75 Lot 14 F/A-18E/F F414-GE-400 engines and associated devices for U.S. Navy and for the government of Australia. In addition, this modification provides for the procurement of after burner modules, fan modules, high pressure combustor modules, combustor modules, and high and low pressure turbine modules for the U.S. Navy and the government of Australia. Work will be performed in Lynn, Massachusetts; Hooksett, New Hampshire; Rutland, Vermont; and Madisonville, Kentucky, and is expected to be completed in September 2016. This modification combines purchases for the U.S. Navy and the government of Australia under the Foreign Military Sales Program. The Naval Air Systems Command, Patuxent River, Maryland, is the contracting activity.
07:34 EDTHESHess suspends oil driling operations in Iraqi Kurdistan, Reuters reports
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August 6, 2014
14:44 EDTGEGeneral Electric breaks downtrend resistance, levels to watch
The shares have been trending down since hitting a recent peak of price in June. Today's move up, over 1.8% at time of writing to $25,57, has broken downtrend resistance. That puts the shares just a tick over the 10-day moving average which is a good proxy for a hand-drawn resistance line. A close back below the 10-day would leave the current bearish picture for the stock unchanged. Next resistance is at $25.94. Support below the 10-day is at $25.27. Bernstein earlier upgraded the shares to Outperform with at $33 price target.
10:00 EDTGE, CRARYOn The Fly: Analyst Upgrade Summary
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06:58 EDTGEGeneral Electric upgraded to Outperform from Market Perform at Bernstein
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05:26 EDTCRARYCredit Agricole upgraded to Buy from Hold at Deutsche Bank
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