10.07 +0.01 (0.10%)
After hours: 7:56PM EDT
|Bid||10.04 x 900|
|Ask||10.07 x 27000|
|Day's Range||9.96 - 10.19|
|52 Week Range||6.40 - 13.35|
|Beta (3Y Monthly)||1.01|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 31, 2019|
|Forward Dividend & Yield||0.04 (0.40%)|
|1y Target Est||12.58|
Danaher's (DHR) second-quarter 2019 results benefit from growth in organic sales, acquired assets and DBS initiatives. Furthermore, the company raises its projection for the current year.
Impressive traction of long-cycle businesses in defense, commercial aerospace, process automation and building technologies drives Honeywell's (HON) Q2 results.
(Bloomberg) -- General Electric Co. agreed to sell a majority stake in a solar-energy business to BlackRock Inc., giving the investment giant footing in a growing market as the ailing manufacturer shifts its focus elsewhere.A fund managed by BlackRock’s Real Assets unit will own 80% of Distributed Solar Development, a new company created from GE Solar, the companies said Wednesday in a statement. Financial terms weren’t disclosed.The deal furthers GE’s streamlining as Chief Executive Officer Larry Culp seeks to rescue the conglomerate by narrowing focus around aviation, gas power and wind energy. The Boston-based company is using mergers to exit the oil and locomotive markets, and GE has said it is “evaluating strategic options” for its venture-capital operations.GE Solar, a consulting business with about 60 employees, has been incubated within GE since 2012. The unit, which doesn’t make solar panels, focuses on “solar and storage solutions for the commercial industrial and public sectors.” GE had explored solar-panel manufacturing but sold its technology to First Solar Inc. in 2013.GE fell 1.5% to $10.23 at 10:42 a.m. in New York, while BlackRock slid 1.5% to $470.13.Once RiskyBlackRock’s Real Assets unit, which has more than $50 billion in client commitments, started its renewable-power platform in 2012. The GE deal comes as investors begin prioritizing a solar segment that was once viewed as riskier than developments for utilities or homeowners: projects for commercial and industrial customers.Part of the impetus is money, as smaller solar farms offer returns that can be more than 2% higher than big projects.It’s also a matter of availability and supply. Large institutional investors have dominated recent auctions for utility-scale developments, crowding out other would-be buyers. And states including California have committed to rid their grids of emissions, encouraging more renewables developments.To contact the reporters on this story: Richard Clough in New York at email@example.com;Brian Eckhouse in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Brendan Case at email@example.com, Tony RobinsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
GE is working from a position of weakness. Most investors would be better off looking at Eaton, which is working from a position of strength.
Anheuser Busch InBev, General Electric, Bed Bath & Beyond, Morgan Stanley, and 7-Eleven are the companies to watch.
General Electric (GE) experienced a setback on July 10 after its workers at the GE Aviation Lynn facility rejected the company’s newly proposed four-year labor contract.
General Electric (GE) has risen ~41% year-to-date, and one Wall Street analyst believes it still has more upside potential.
General Electric (GE) closed the most recent trading day at $10.25, moving +0.49% from the previous trading session.
Another strong year and a transformational acquisition are in progress for one of the most admired industrial companies in the U.S.
The United States holds power potential of more than 2,000 gigawatts (GW), nearly double the nation's current electricity use. This sets the stage for construction of more offshore wind farms in the nation.
(Bloomberg Opinion) -- When I heard on Tuesday night that Lee Iacocca had passed away, I was momentarily taken aback. Not so much because he had died — he was, after all, 94 — but because, for someone who had been such a larger-than-life figure for so much of his career, he had been out of the limelight for so long.Iacocca first burst into the public consciousness in 1963, when he made the covers of both Time and Newsweek(1) in the same week, standing in front of the brand new Ford Mustang, which he had (allegedly) masterminded as a top Ford executive. His last public act took place in 1995, when he and the financier Kirk Kerkorian made a foolhardy attempt to take over Chrysler. Although he later formed an investment company, and dabbled in this and that, this once unforgettable figure spent the last two decades of his life, well, forgotten.In the headline of its obituary, the New York Times described Iacocca as a “Visionary Automaker Who Led Both Ford and Chrysler.” And that’s true, so far as it goes. Having accrued most of the credit for the Mustang, he was promoted to Ford’s president by the time he was 46. But in 1978, even though Ford was going great guns, Henry Ford II fired him. Supposedly, Ford said he was canning Iacocca because he didn’t like him.Then came his tenure at Chrysler, which was on the brink of collapse when he took it over. He persuaded the federal government to give the company $1.5 billion in loan guarantees, and used that money to orchestrate a brilliant turnaround, spearheaded by the Chrysler minivan — a car that, in addition to making the company gobs of money, had a profound impact on American society. (Just ask any parent.)All well and good.But Iacocca influenced the culture in another way as well. The celebrification of chief executives can be traced directly to him. Yes, there had been other famous corporate chieftains before Iacocca — John D. Rockefeller and Walt Disney come to mind — but they were the exceptions to the rule that CEOs should be low-key, boring even. Iacocca(2) made it okay for a chief executive not just to gain fame, but to desire it.When had a chief executive made himself the centerpiece of his company’s ad campaign before Iacocca did it at Chrysler? When had one made himself a selling point in asking Congress for help? Or taken a public victory lap the way Iacocca did after the Chrysler turnaround, posing for magazine covers from Life to the Saturday Evening Post? Or publicly muse about running for president? Oh, and when had a chief executive written an autobiography that became one of the best-selling books of all time? Not business books, mind you. Books. Published in 1984, there were more than 7 million copies sold by the end of the following year.After Iacocca did it, other CEOs put themselves in their companies’ ad campaign: Dave Thomas, founder of the Wendy’s Co., and Victor Kiam, who owned Remington Products Co., maker of electric shavers. (His tag line: “I liked it so much, I bought the company.”) CEOs became less bashful about granting interviews and posing for magazine covers. (By 2002, Bill Gates had posed for Fortune’s cover 25 times.) Or bragging about their accomplishments to anyone who would listen. (I’m talking to you, Jack Welch.)And then there were the ghost-written CEO autobiographies, which poured forth into bookstores after the success of “Iacocca: An Autobiography.” “Pizza Tiger,” by Tom Monaghan, founder of Domino’s Pizza Inc. “Work in Progress,” by Michael Eisner, former chief executive of The Walt Disney Co. “Straight From the Gut,” by Welch, CEO of General Electric Co. “Sam Walton: Made in America,” by Walmart Inc. founder Sam Walton. “Father, Son & Co.: My Life at IBM,” by Thomas Watson Jr.(3) And lest we forget: “The Art of the Deal,” by Donald Trump. That came out three years after Iacocca’s book.I never covered Iacocca myself, but I’ve long realized that much of my career has been spent taking advantage of the trail he blazed. My very first business story, in 1982, was about T. Boone Pickens’s first hostile takeover attempt, which I wrote for Texas Monthly. When Pickens decided to write his autobiography a few years later, he hired me as his ghostwriter. (It ended badly for me, but that’s a story for another day.)During my decade at Fortune, getting to know CEOs, interviewing them, writing stories about them — and getting them to pose for the cover — was at the heart of the enterprise. I did a short documentary about Warren Buffett. At the New York Times, my readership always spiked when I wrote a column about Steve Jobs and Apple. Now at Bloomberg, I still find myself drawn to columns about CEOs. Readers care about the comings and goings of chief executives in a way they never did before Lee Iacocca.So I guess what I should say as I bid adieu to Iacocca is simply this: Thank you. Maybe that’s what we should all say.(1) And those were the days when making the cover of Time or Newsweek really meant something!(2) I should also note that Iacocca wasn’t just a business celebrity but an Italian-American celebrity. In 1963, when he first became famous, that was something Italian-Americans took pride in; by the time he left Chrysler in the 1990s, Italian-American celebrities had become no big deal. That’s progress.(3) For the record, the Watson book, written with Peter Petre, is in my view, the best CEO autobiography ever written. It is a deeply personal account of not just running a company but dealing with a larger-than-life father, who founded IBM.To contact the author of this story: Joe Nocera at firstname.lastname@example.orgTo contact the editor responsible for this story: Tobin Harshaw at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Joe Nocera is a Bloomberg Opinion columnist covering business. He has written business columns for Esquire, GQ and the New York Times, and is the former editorial director of Fortune. His latest project is the Bloomberg-Wondery podcast "The Shrink Next Door."For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
General Electric's (GE) partnership with Flexjet will allow the latter's fleet of aircraft to transmit flight data wirelessly upon touchdown on an instant basis.
Tesla (TSLA) has had a rough 2019 as it tries to expand production, with its stock price down 32.8%. Former GE (GE) Vice Chair Beth Comstock sympathized this week with CEO Elon Musk saying, "Getting to scale, getting your logistics organized in these fast-growing companies is really hard."
Flexjet and GE Aviation have implemented a comprehensive safety and fleet modernization project including flight operations quality assurance (FOQA), quick access recorders (QARs) and cellular data services. The equipment will monitor Flexjet’s fleet of 150 aircraft including Embraer Phenom 300 and Legacy 450, Bombardier Challenger 300, 350, Global Express and the Gulfstream G450 and G650.
As CEO Elon Musk pushes ahead to meet Tesla’s aggressive production targets, a former General Electric executive expressed sympathy for the embattled company chief.
After an unusual number of explosions, several Brazilian power transmission companies have started removing a piece of equipment made by General Electric Co , a blow for GE's Brazil unit as it battles competing suppliers from China and India. Brazil's grid operator ONS recommended replacing GE's CTH-550 transformer model after registering 53 explosions, as Reuters exclusively reported in January. There are close to 700 pieces of that equipment in Brazil's grid, each costing up to 100,000 reais ($26,000).