23.64 -0.19 (-0.80%)
Pre-Market: 6:01AM EDT
|Bid||23.35 x 100|
|Ask||23.40 x 200|
|Day's Range||22.10 - 23.84|
|52 Week Range||22.10 - 32.38|
|PE Ratio (TTM)||29.03|
|Earnings Date||Jan 18, 2018 - Jan 22, 2018|
|Dividend & Yield||0.96 (4.07%)|
|1y Target Est||27.60|
General Electric's third-quarter profit missed Wall Street estimates by a wide margin and the company slashed its earnings forecast, sending its stock down. Fred Katayama reports.
General Electric CEO John Flannery says "everything is on the table" as GE plans to sell or spin off $20 billion of its businesses within the next two years. After a series of lackluster at best earnings, the conglomerate that was founded by Thomas Edison is working to consolidate its way toward profitability in a corporate environment dominated by activist investing. While Flannery told investors on GE's most recent earnings call that GE is carefully reviewing all of its businesses, analysts have speculated which of the company's numerous assets are most likely to be sold. Among the potential divestitures, Baker Hughes , and its lighting, power conversion and locomotive businesses were popular mentions. Watch More with TheStreet: Target CEO: This Is How We Will Beat Walmart Check Out the 6 Newest Google Products 50,000 Sandwiches and 4 Other Ways Cities Are Trying to Woo Amazon Billionaire David Rubenstein on His Biggest Worry for the Economy
Worries about the health of the long-term-care insurance industry have nettled investors for years. General Electric Co.’s comments show the problem isn’t going away soon.
Executive compensation is one of the many things John Flannery plans to shake up he tightens the belt at General Electric. But his options may be limited.
The week ahead for Wall Street features the biggest week of the quarter for earnings, a GDP reading and a watch on tax reform progress.
General Electric’s stock retreated then recovered after the conglomerate’s earnings report shocked investors with the first profit miss in 2 1/2 years but soothed with an intact dividend for now.
Vital Signs A week that could have been a nightmare instead finished like a dream. The Dow Jones Industrial Average climbed 456.91 points, or 2%, to 23,328.63 last week, while the Standard & Poor’s 500 index rose 0.9% to 2575.21. The Nasdaq Composite advanced 0.4% to 6629.05.
GE’s quarterly earnings fell as it incurred hefty restructuring charges during CEO John Flannery’s first official quarter at the helm, and the new CEO pledged to exit more than $20 billion of the company’s ...
General Electric left its investors unhappy once again. At least management seems to be getting the message this time.
GE’s next finance chief promised to get ‘back to basics’ with the conglomerate’s financial reporting, after the latest quarterly results highlighted the complexity of the company’s bookkeeping.
General Electric (GE) might have rallied from its early losses to close up on the day, but Standard & Poor's wasn't so sanguine about the industrial giant's "unacceptable" earnings today. From S&P's press release: General Electric Co. (GE) recently reported its earnings for the third quarter of 2017 and made several other announcements, including significantly lowering the expectations for its 2017 cash generation to reflect the weaker-than-expected conditions in the power markets and the underperformance of its working capital. Shares of General Electric have dropped 0.7% to $23.67 in after-hours trading after gaining 1.1% to $23.83 today.
General Electric cut its profit target for 2017 to a range of $1.05 to $1.10 from a previous projection of $1.60 to $1.70.
Stocks hit record highs on IBM, J&J, Adobe and the Senate's step toward tax cuts. Netflix wowed analysts, but investors gave mixed reviews. United Airlines and General Electric plunged.
GE slashed its outlook for profits and cash flow Friday after missing Wall Street's expectations for quarterly earnings by a mile, prompting more warnings that its dividend could be at risk.
General Electric (GE) started the day lower, after reporting a disappointing third quarter, but now the stock has recovered and is trading up. It’s a bit of a surprise given how dismal the results were—earnings per share came in twenty cents below expectations and even its CEO called the results “unacceptable” and said the company “make major changes" during the conference call. Vertical Research Partners’ Rob Stallard, who focuses on aerospace, liked how that segment of the business is performing: Although definitions differ from company to company, GE Aviation’s strong services result in 3Q, together with positive commentary on 4Q, bodes well for other aero engine suppliers that have yet to report.
Steel stocks are getting hotter, led by South Korea's Posco and Steel Dynamics. J&J is acting well after its breakout.
O.K. Maybe not the only, but among the top five shorts in the industrial conglomerate sector globally--General Electric (GE), 3M (MMM), Siemens (SIEGY), Orkla (ORKLY) and Danaher (DHR)--GE is the only one that's working, according to S3 Partners data. GE's been a mess this year, as evidenced by today's earnings, which even the CEO called "unacceptable." The Industrial Select Sector SPDR ETF (XLI) has gained 17% this year, outpacing the SPDR S&P 500 ETF's (SPY) 15% rise.
RBC Capital lowered its price target for Chipotle Mexican Grill (CMG) to $330 from $400 on concern about sales, increasing labor costs, the chain’s disappointing queso launch and higher avocado prices. In a note to clients, titled “Worst queso scenario,” analyst David Palmer wrote, “We suspect that recent performance of Chipotle’s SSS initiatives (e.g., queso) and marketing effectiveness is likely to disappoint expectations. Citi upgraded Lululemon (LULU) to a buy from hold and raised its price target on the stock to $73 a share, implying a 21% move to the upside from the stock’s closing price on Thursday.
Major stock indexes held decent gains near midday Friday as week results from General Electric didn't have much effect on the price-weighted Dow.
As General Electric (GE) continues to struggle to fix its ailing business model, one of its offspring, Synchrony Financial (SYF), has fared much better. The company, which issues private-label credit cards for Amazon.com (AMZN) and other large retailers, has performed well since it was spun off from GE in mid-2014. Its stock has an annual total return of 13.1%, about 1.5 percentage points ahead of the S&P 500 over that stretch, but GE’s stock has returned 0.6% since then.