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General Electric Co (GE.N)

GE.N on New York Stock Exchange

10.09USD
15 Feb 2019
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$0.05 (+0.50%)
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Latest Key Developments (Source: Significant Developments)

Fitch Affirms GE And GE Capital At 'BBB+' ; Outlook Revised To Negative
Thursday, 7 Feb 2019 

Feb 7 (Reuters) - :FITCH AFFIRMS GE AND GE CAPITAL AT 'BBB+'; OUTLOOK REVISED TO NEGATIVE.FITCH SAYS NEGATIVE OUTLOOK REFLECTS FITCH'S INCREASED CONCERNS ABOUT GE'S ULTIMATE CREDIT PROFILE.FITCH SAYS NEGATIVE OUTLOOK REFLECTS RISKS CENTERED ON GE'S POWER BUSINESS, INDUSTRIAL FREE CASH FLOW AND SUPPORT FOR GE CAPITAL.FITCH SAYS GE'S FREE CASH FLOW IN 2019 COULD BE LESS THAN FITCH'S ORIGINAL FORECAST OF $1 BILLION - $2 BILLION.FITCH EXPECTS GE'S FREE CASH FLOW WILL BE WELL BELOW INDUSTRIAL PEERS FOR THE NEXT TWO TO THREE YEARS BEFORE RESTRUCTURING IS FULLY EFFECTIVE.  Full Article

Global Nuclear Fuel Extends Joint Venture Agreement With Enusa
Tuesday, 5 Feb 2019 

Feb 5 (Reuters) - Global Nuclear Fuel::GLOBAL NUCLEAR FUEL EXTENDS JOINT VENTURE AGREEMENT WITH ENUSA.GLOBAL NUCLEAR FUEL - AGREEMENT WILL EXTEND THE OPERATION OF GENUSA FOR AN ADDITIONAL SIX YEARS.  Full Article

Argan Unit Enters An EPC Contract, Receives A Limited Notice To Proceed For A 1.8 Gigawatt Power Project
Tuesday, 5 Feb 2019 

Feb 5 (Reuters) - Argan Inc ::ARGAN, INC.’S WHOLLY OWNED SUBSIDIARY GEMMA POWER SYSTEMS ENTERS INTO AN EPC CONTRACT AND RECEIVES A LIMITED NOTICE TO PROCEED FOR A 1.8 GIGAWATT POWER PROJECT.ARGAN INC - UNIT ENTERED INTO CONTRACT WITH GUERNSEY POWER STATION TO CONSTRUCT A 1,875 MW NATURAL GAS-FIRED POWER PLANT IN GUERNSEY COUNTY, OHIO.ARGAN INC - POWER TRAINS FOR FACILITY ARE PROVIDED BY GENERAL ELECTRIC COMPANY AND UTILIZE SINGLE SHAFT 7HA.02 GAS TURBINES.ARGAN INC - CONSTRUCTION FOR FACILITY IS SCHEDULED TO BEGIN IN SPRING WITH COMPLETION SCHEDULED IN 2022.  Full Article

GE Reports Details For Anticipated Completion Of Spin-Off And Subsequent Merger Of Its Transportation Business
Monday, 4 Feb 2019 

Feb 4 (Reuters) - General Electric Co ::GE ANNOUNCES DETAILS FOR ANTICIPATED COMPLETION OF SPIN-OFF AND SUBSEQUENT MERGER OF ITS TRANSPORTATION BUSINESS.BOARD OF DIRECTORS HAS SET A RECORD DATE OF FEBRUARY 14, 2019 FOR SPIN-OFF OF TRANSPORTATION SYSTEMS HOLDINGS INC..CURRENTLY EXPECTED THAT 8.7 BILLION SHARES OF SPINCO COMMON STOCK WILL BE DISTRIBUTED TO GE SHAREHOLDERS.SPIN-OFF AND SUBSEQUENT MERGER OF ITS TRANSPORTATION BUSINESS CURRENTLY EXPECTED TO OCCUR ON FEBRUARY 25, 2019.ON DISTRIBUTION DATE FOR SPIN-OFF, GE WILL DISTRIBUTE ALL OF SHARES OF SPINCO COMMON STOCK TO GE SHAREHOLDERS OF A PRO RATA DISTRIBUTION.BEGINNING ON OR ABOUT FEB. 14, AND CONTINUING THROUGH AND INCLUDING CLOSING DATE OF MERGER, THERE WILL BE 2 MARKETS IN GE COMMON STOCK ON NYSE.TWO MARKETS IN GE COMMON STOCK ON NYSE WILL BE A "REGULAR WAY" MARKET AND AN "EX-DISTRIBUTION" MARKET.DURING PERIOD OF TWO-WAY TRADING, GE SHAREHOLDER CAN SELL RIGHT TO WABTEC STOCK THAT HE/SHE RECEIVE PURSUANT TO MERGER IN "WHEN ISSUED" MARKET.NO FRACTIONAL SHARES OF WABTEC COMMON STOCK WILL BE ISSUED IN MERGER, & INSTEAD GE SHAREHOLDERS WILL RECEIVE CASH IN LIEU OF ANY FRACTIONAL SHARE.  Full Article

General Electric Q4 Adjusted EPS (Non-GAAP) Of $0.17
Thursday, 31 Jan 2019 

Jan 31 (Reuters) - General Electric Co ::4Q'18 CONTINUING EPS (GAAP) OF $0.08.QTRLY ADJUSTED EPS (NON-GAAP) OF $0.17.QTRLY TOTAL REVENUES $33.28 BILLION, UP 5 PERCENT.QTRLY BHGE ORDERS OF $6.9 BILLION WERE UP 21%.IN GE CAPITAL, COMPLETED $8 BILLION OF ASSET SALES AND OTHER ACTIONS IN QUARTER, BRINGING TOTAL DISPOSITIONS TO $15 BILLION IN 2018.QTRLY BHGE REVENUES OF $6.2 BILLION WERE UP 8%.POWER WAS NEGATIVELY IMPACTED IN QUARTER BY CONTINUED EXECUTION, OPERATIONAL ISSUES ON EQUIPMENT PROJECTS AND TRANSACTIONAL SERVICES.DIVIDEND CUT, SELL-DOWN OF STAKE IN BHGE, & OTHERS ALLOWED GE TO GENERATE OR RETAIN ABOUT $10 BILLION OF CASH.Q4 EARNINGS PER SHARE VIEW $0.22, REVENUE VIEW $32.61 BILLION -- REFINITIV IBES DATA.DURING 2018, GE CAPITAL COMPLETED ASSET REDUCTIONS OF $15 BILLION AND PAID DOWN EXTERNAL DEBT BY $21 BILLION.GE CAPITAL ENDED THE QUARTER WITH $124 BILLION OF ASSETS, INCLUDING $15 BILLION OF LIQUIDITY.COMPLETED LOSS RECOGNITION TESTING ON INSURANCE BUSINESS DURING QUARTER AND RECORDED A $65 MILLION CHARGE AFTER-TAX.IN GE INDUSTRIAL, SIGNED OR COMPLETED SUBSTANTIALLY ALL OF THE $20 BILLION ASSET DISPOSITION PROGRAM IN 2018.REACHED AGREEMENT IN PRINCIPLE WITH U.S. DOJ TO SETTLE THE FIRREA INVESTIGATION OF WMC, WITH CO TO PAY CIVIL PENALTY OF $1.5 BILLION."DELAYERED POWER TO IMPROVE ACCOUNTABILITY AND COST STRUCTURES IN UNDERLYING BUSINESSES"."LAUNCHING AN INDEPENDENT GE-OWNED DIGITAL BUSINESS TO BETTER FOCUS ON GROWTH OPPORTUNITIES IN INDUSTRIAL IOT".  Full Article

Baker Hughes Qtrly Adjusted Earnings Per Share $0.26
Thursday, 31 Jan 2019 

Jan 31 (Reuters) - Baker Hughes A Ge Co ::GAAP DILUTED EARNINGS PER SHARE OF $0.28 FOR QUARTER.CASH FLOWS GENERATED FROM OPERATING ACTIVITIES WERE $1,090 MILLION FOR QUARTER.QTRLY ADJUSTED DILUTED EARNINGS PER SHARE (A NON-GAAP MEASURE) WERE $0.26.IN NOVEMBER, MAJORITY SHAREHOLDER, GE, REDUCED THEIR OWNERSHIP FROM APPROXIMATELY 62.5% TO APPROXIMATELY 50.4%.Q4 EARNINGS PER SHARE VIEW $0.26 -- REFINITIV IBES DATA.RECENT DECLINE IN CRUDE PRICES TO HAVE AN IMPACT ON MORE TRANSACTIONAL MARKETS OF UNITED STATES, CANADA AND LATIN AMERICA IN 1H."EXPECT OTHER INTERNATIONAL MARKETS AS WELL AS OFFSHORE ACTIVITY TO REMAIN RELATIVELY STABLE".MARKET DYNAMICS IN Q4 DEMONSTRATED VOLATILITY IN OUR INDUSTRY."SEEING A POSITIVE CHANGE IN LNG MARKET".CAPITAL EXPENDITURES, NET OF PROCEEDS FROM DISPOSAL OF ASSETS, WERE $214 MILLION FOR Q4 OF 2018..REVENUE OF $6.3 BILLION FOR QUARTER, UP 11% SEQUENTIALLY AND UP 8% YEAR-OVER-YEAR.Q4 REVENUE VIEW $6.05 BILLION -- REFINITIV IBES DATA.  Full Article

GE To Consolidate Renewable And Grid Assets Into Single Renewable Energy Business
Wednesday, 30 Jan 2019 

Jan 30 (Reuters) - General Electric Co ::GE - TO CONSOLIDATE ALL OF RENEWABLE AND GRID ASSETS INTO SINGLE, SIMPLIFIED RENEWABLE ENERGY BUSINESS..GE - PROPOSED MOVES ARE PART OF A BROADER EFFORT ON PART OF GE TO POSITION CO TO MEET EVOLVING NEEDS OF POWER MARKET.GE - MOVES INCLUDE MOVING GE'S GRID SOLUTIONS AND HYBRID RENEWABLES TECHNOLOGIES INTO GE RENEWABLE ENERGY BUSINESS.GE - MOVES INCLUDE STREAMLINING ITS ONSHORE WIND STRUCTURE, ELIMINATING ITS HEADQUARTERS LAYER.GE - MOVES INCLUDE ELEVATING CURRENT REGIONAL TEAMS-AMERICAS, EUROPE/AFRICA, MENAT AND APAC-TO IMPROVE LOCAL EXECUTION IN ONSHORE WIND BUSINESS.  Full Article

L. Kevin Cox Named GE's Chief Human Resources Officer
Friday, 25 Jan 2019 

Jan 25 (Reuters) - General Electric Co ::L. KEVIN COX NAMED GE’S CHIEF HUMAN RESOURCES OFFICER.GE - COX JOINS GE FROM AMERICAN EXPRESS, WHERE HE WAS THE CHIEF HUMAN RESOURCES OFFICER.GE - COX SUCCEEDS RAGHU KRISHNAMOORTHY WHO WILL BE RETIRING.  Full Article

Wabtec And GE Modify Terms Of Transaction, Expect To Close By End Of February 2019
Friday, 25 Jan 2019 

Jan 25 (Reuters) - Westinghouse Air Brake Technologies Corp ::WABTEC AND GE MODIFY TERMS OF TRANSACTION, EXPECT TO CLOSE BY END OF FEBRUARY 2019.WABTEC - UNDER MODIFIED TERMS GE WILL COMPLETE SPIN OFF OF A PORTION OF GE TRANSPORTATION TO GE SHAREHOLDERS.WABTEC - UPON CLOSING, WABTEC SHAREHOLDERS WILL OWN ABOUT 50.8% OF CO ON FULLY DILUTED BASIS, COMPARED TO ABOUT 49.9% UNDER PREVIOUS TERMS.WABTEC - GE TO OWN COMMON STOCK AND NON-VOTING CONVERTIBLE PREFERRED STOCK WHICH REPRESENT ABOUT 24.9% ECONOMIC INTEREST IN WABTEC.WABTEC - GE SHAREHOLDERS WILL DIRECTLY OWN ABOUT 24.3% OF WABTEC ON A FULLY DILUTED BASIS.WABTEC - IN AGGREGATE, WABTEC WILL ISSUE 3.3 MILLION FEWER SHARES TO GE THAN ORIGINALLY CONTEMPLATED.WABTEC- UNDER THE MODIFIED STRUCTURE, SPIN-OFF WILL BE CONSIDERED A TAXABLE DIVIDEND FOR U.S. FEDERAL INCOME TAX PURPOSES..  Full Article

Wabtec, GE Modify Terms Of Transaction, Expect To Close By End Of February
Friday, 25 Jan 2019 

Jan 25 (Reuters) - Wabtec::WABTEC AND GE MODIFY TERMS OF TRANSACTION, EXPECT TO CLOSE BY END OF FEBRUARY 2019.WABTEC - UNDER MODIFIED TERMS GE WILL COMPLETE SPIN OFF OF A PORTION OF GE TRANSPORTATION TO GE SHAREHOLDERS.WABTEC - UPON CLOSING, WABTEC SHAREHOLDERS WILL OWN ABOUT 50.8% OF CO ON FULLY DILUTED BASIS, COMPARED TO ABOUT 49.9% UNDER PREVIOUS TERMS.WABTEC - GE TO OWN COMMON STOCK AND NON-VOTING CONVERTIBLE PREFERRED STOCK WHICH REPRESENT ABOUT 24.9% ECONOMIC INTEREST IN WABTEC.WABTEC - GE SHAREHOLDERS WILL DIRECTLY OWN ABOUT 24.3% OF WABTEC ON A FULLY DILUTED BASIS.WABTEC - IN AGGREGATE, WABTEC WILL ISSUE 3.3 MILLION FEWER SHARES TO GE THAN ORIGINALLY CONTEMPLATED.WABTEC- UNDER THE MODIFIED STRUCTURE, SPIN-OFF WILL BE CONSIDERED A TAXABLE DIVIDEND FOR U.S. FEDERAL INCOME TAX PURPOSES..WABTEC - GE WILL SELL DOWN INTEREST IN CO SUBJECT TO CERTAIN STAGGERED LOCK-UP PROVISIONS, SIZE CONSTRAINTS.WABTEC - GE INTEREST IS VALUED AT $3.4 BILLION BASED ON WABTEC'S CURRENT MARKET STOCK PRICE OF $71.03.WABTEC - NO SALES BY GE CAN BE MADE FOR 30 DAYS POST-CLOSING; GE MUST COMPLETE ALL SALES BEFORE THIRD ANNIVERSARY OF MERGER CLOSING.  Full Article

UPDATE 11-Oil rises over 2 pct to 2019 highs on tightening supplies

* U.S. adds oil rigs for second week in a row (Updates to settlement, adds new quotes)