28.19 +0.15 (0.53%)
After hours: 5:41PM EST
|Bid||28.04 x 500|
|Ask||28.19 x 200|
|Day's Range||27.08 - 28.57|
|52 Week Range||25.53 - 62.24|
|PE Ratio (TTM)||109.96|
|Forward Dividend & Yield||0.72 (2.72%)|
|1y Target Est||36.48|
General Electric Co (GE.N) has "line of sight" on the first $4 billion in asset sales under its plans for $20 billion in disposals, the company's chief financial officer said on Wednesday, while dismissing talk about selling shares to raise capital. Chief Financial Officer Jamie Miller, speaking to an investor conference organized by Citigroup in Miami, did not elaborate on the planned asset sales. Miller said GE does not plan to quickly sell its 62.5 percent stake in oilfield services business Baker Hughes (BHGE.N) before the expiration of a two-year lockup period, reversing an earlier stance that had cast uncertainty around Baker Hughes.
Shares of General Electric Co's Baker Hughes (BHGE.N) rose on Wednesday after the parent company said it would not shed its holdings in the oilfield services business before the expiration of a two-year lockup period, reversing an earlier stance that had cast uncertainty around the stock. General Electric (GE.N) last November said it was considering shedding its Baker Hughes holdings to refocus its business and boost cash flows. The announcement came just months after the conglomerate had purchased a 63 percent stake in the firm under a deal that combined its oil and gas services and equipment business with Baker Hughes to create the second largest oilfield services firm by revenue.
GE lowered its 2018 profit outlook and said it has no intention of selling down its majority stake in oil services firm Baker Hughes before 2019, a shift from its previous exploration of exiting the business....
Chief Financial Officer Jamie Miller said there are no plans to exit GE's Baker Hughes stake prior to the expiration of any lockup periods.
The Oil and Natural Gas Corp (ONGC) is set to hire international oil service giants for the first time to boost output from domestic oil fields in response to a government push to increase local supplies and cut expensive imports. ONGC, India's biggest explorer, has shortlisted U.S. oil service companies Halliburton, Schlumberger and GE subsidiary Baker Hughes to submit proposals on boosting production from two onshore fields, according to a document seen by Reuters. The three companies have until May to submit their proposals for what ONGC is calling a "production enhancement contract" for an oilfield in Assam and another in Gujarat.
General Electric Co. (NYSE:GE) may be the most hated stock in today’s market. GE stock has had quite a bad time of it. Amazon.com Inc. (NASDAQ:AMZN) and Alphabet Inc. (NASDAQ:GOOGL) have yet to be invited, among others.
Oil futures climbed on Monday, with the commodity picking up where it left off last week, when prices rebounded as investor appetite for riskier assets improved.
The number of rigs exploring for oil and natural gas in the U.S. didn't increase this week, remaining at 975 for the second week in a row. That exceeds the 751 rigs that were active this time a year ago. ...
Oil futures maintained gains Friday after data showed a rise in the number of U.S. oil rigs this week. Baker Hughes said the number of U.S. oil rigs rose to 798 versus a total of 791 a week ago. West Texas ...
As General Electric (GE) figures out how to go forward, one of the solutions, apparently, is to sell its stake in Baker Hughes (BHGE). Melius Research's Scott Davis thinks it should. Baker Hughes is expected to post free cash flow of $2.3 billion by 2020, more than four times the $520 million dividend GE is set to receive each year.