167.75 +0.79 (0.47%)
After hours: 5:47PM EDT
|Bid||167.31 x 1400|
|Ask||168.00 x 900|
|Day's Range||164.31 - 166.96|
|52 Week Range||119.60 - 170.64|
|Beta (5Y Monthly)||0.86|
|PE Ratio (TTM)||37.84|
|Earnings Date||Jul 16, 2020 - Jul 20, 2020|
|Forward Dividend & Yield||0.72 (0.44%)|
|Ex-Dividend Date||Jun 25, 2020|
|1y Target Est||176.50|
I've been a skeptic toward General Electric (NYSE:GE) stock for some time now. Truthfully, I'm not too happy about it.Source: Sundry Photography / Shutterstock.com After all, General Electric once was one of America's greatest and most innovative companies. It provided thousands of employees with stable jobs and generous retirement plans. GE stock was a core holding of pension funds and individual investors.Sadly, that's no longer the case. General Electric offers many fewer jobs: its workforce shrunk 28% worldwide in 2019. And GE stock, almost incredibly, touched a 29-year low this month. Its dividend has been cut -- twice.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe reality is sad. But it's still the reality. Investors need to react accordingly. * 7 Red-Hot Vaccine Stocks Racing to Develop a Coronavirus Cure While I still hold out hope for General Electric, I can't yet recommend that investors put their own hard-earned money behind the company's turnaround plans. Two pieces of news this week show why. GE Exits the Lighting BusinessOn Wednesday, General Electric announced that it had sold off its Lighting business. It is the end of era. After all, General Electric traces its history back to Thomas Edison and the light bulb he invented. That link has now been severed.Perhaps more importantly, as Bloomberg noted, GE is no longer a consumer company at all. Many of us remember the company's iconic "we bring good things to life" ad campaigns of the late 20th century. But GE Appliances now is owned by Germany's Haier (OTCMKTS:HRELF). The lighting business was sold to privately held Savant Systems.There's more than symbolism to the deal, however. According to the Wall Street Journal, GE Lighting sold for just $250 million. Over half of that was assumed liabilities. And it came after GE spent years trying to exit the business, during which time it sold off its Current LED business and some overseas operations as well.What the deal, and the process leading up to it, provides is another example that GE simply isn't what it used to be. Older investors, in particular, may have a sense of General Electric that simply isn't accurate anymore.As I've written before, General Electric's response to everything for years now has been to shrink. That process continues.GE stock did rally 8% on the news, but that gain seems driven more by bottom-fishing on a green day for the market than the transaction itself. $250 million simply isn't that material against a market capitalization still in the range of $60 billion. It's obviously not enough to offset the concerns that are keeping GE stock well into the single digits. Culp Speaks and GE Stock FallsTo be fair to GE, the decision to continually shrink the business isn't necessarily the wrong move. Chief executive officer Larry Culp is widely respected after his enormously successful tenure at Danaher (NYSE:DHR), and with good reason.But that's precisely the point. If GE could grow, Culp would be trying to drive growth. But with the company beset by a still-troublesome balance sheet and significant pension obligations, the focus has to be on getting the company back on solid footing first.The coronavirus has upended those plans. It has hammered GE's Aviation business, which counts Boeing (NYSE:BA) as a key customer.That in turn is testing investor patience. Culp said at a conference Thursday that GE would burn $4.5 billion in cash in the second quarter alone. GE stock fell 7% in response.The issue isn't just Aviation, but GE Capital. That unit finances aircraft, and as Culp put it "is seeing a good bit of pressure" from customer deferrals.The weakness from aircraft isn't ending in the second quarter. It's likely not ending in 2020, or even 2021. An investor need only look at the share prices of American Airlines (NASDAQ:AAL) or Delta Air Lines (NYSE:DAL) to see what the market is pricing into those stocks.There's simply not that much slack in GE's free cash flow profile right now to manage that kind of multi-year pressure. Even before the coronavirus hit, GE was guiding for industrial free cash flow (i.e., excluding GE Capital) of just $2 billion to $4 billion. If Aviation is down for the count, free cash flow stays flattish at best. And that leaves GE with little in the way of options. A Tough SpotThe problem for GE stock at this point is that the company has to fix its balance sheet through free cash flow. It's pulled all of the other levers.Again, it's sold businesses, including the $21 billion sale of GE Biopharma to Danaher that closed earlier this year. There's really nothing left. GE Power is in the midst of a turnaround, Aviation is in trouble, Renewable Energy is small (and providing some growth), and Healthcare is the profit center.Simply put, GE has to start making money. It's not doing so. And, again, I don't think that's necessarily the fault of Culp. It's largely the result of past decisions, among them the disastrous acquisition of Alstom that closed in 2015.Whatever the cause, GE simply isn't a leader anymore. It's not a giant. It's not an innovator. GE is not what it was. What the news from this week reinforces is that General Electric simply is a cash-burning company trying to turn itself around. And even in a best-case scenario, it likely has years left of work to do.Matthew McCall left Wall Street to actually help investors -- by getting them into the world's biggest, most revolutionary trends BEFORE anyone else. The power of being "first" gave Matt's readers the chance to bank +2,438% in Stamps.com (STMP), +1,523% in Ulta Beauty (ULTA) and +1,044% in Tesla (TSLA), just to name a few. Click here to see what Matt has up his sleeve now. Matt does not directly own the aforementioned securities. More From InvestorPlace * Top Stock Picker Reveals His Next 1,000% Winner * The Huge Story for 2020 & Beyond That You Aren't Hearing About * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * The 1 Stock All Retirees Must Own The post How This Week Highlights the Challenges Facing General Electric Stock appeared first on InvestorPlace.
Beckman Coulter Life Sciences today announced RNAdvance Viral XP has been added to the list of acceptable extraction methods for use in the Centers for Disease Control's EUA-authorized COVID-19 test referenced in the FDA's FAQ on testing for SARS-CoV-2. Laboratories are now permitted to independently validate RNAdvance Viral XP for use.
Before we spend countless hours researching a company, we like to analyze what insiders, hedge funds and billionaire investors think of the stock first. This is a necessary first step in our investment process because our research has shown that the elite investors' consensus returns have been exceptional. In the following paragraphs, we find out […]
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Danaher Corporation and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
Beckman Coulter announced today the availability of its DxH 690T hematology analyzer in the U.S. Designed to streamline workflow and minimize downtime in mid-volume laboratories, the DxH 690T delivers all of the benefits of the company's flagship DxH 900 large-volume hematology analyzer in a table-top configuration.
Health-care stocks that were popular in ESG funds tended to score better on ESG issues than other stocks in the sector in conventional funds, according to a study.
General Electric shares are getting no love from investors these days—the stock fell to another new low in Thursday trading. But not everything is going wrong for the American industrial giant.
Danaher (DHR) completes the offering of common and convertible preferred shares. It intends on using the funds raised to pay for its corporate needs.
Danaher Corporation (NYSE: DHR) ("Danaher") announced today that it has closed concurrent offerings of 9,509,203 shares of common stock at a price to the public of $163.00 per share and 1,717,500 shares of 5.00% Series B Mandatory Convertible Preferred Stock at a price to the public of $1,000 per share (the "offerings"). These offerings were made by means of separate prospectus supplements and were not contingent on each other. The shares of Series B Mandatory Convertible Preferred Stock sold include 167,500 shares issued pursuant to the exercise in full of the separate option granted to the underwriters in the Series B Mandatory Convertible Preferred Stock offering to purchase additional shares. The option granted to the underwriters to purchase an additional 1,426,379 shares of common stock in the common stock offering was exercised in full on May 12, 2020 and is anticipated to close on or about May 14, 2020.
What kind of global health-care companies will stand out in a post-pandemic world? Jefferies analysts compile a shortlist.
Danaher Corporation (NYSE:DHR) ("Danaher") announced today that it has priced concurrent offerings of 9,509,203 shares of common stock at a price to the public of $163.00 per share and 1,550,000 shares of 5.00% Series B Mandatory Convertible Preferred Stock at a price to the public of $1,000 per share (the offerings). The underwriters have separate 30-day options to purchase up to an additional 1,426,379 shares of common stock, and up to an additional 167,500 shares of mandatory convertible preferred stock. The offerings are scheduled to be completed on May 12, 2020, subject to customary closing conditions.
At this time, I would like to welcome everyone to Danaher Corporation's First Quarter 2020 Earnings Conference Call. With us today are Tom Joyce, our President and Chief Executive Officer; and Matt McGrew, our Executive Vice President and Chief Financial Officer.
Danaher's (DHR) Q1 results reflect healthy growth in organic sales and the impacts of forex woes. Core sales in Q2 are expected to reflect the pandemic woes and gains from Cytiva.
Shares of Danaher Corp. dropped 2.4% in premarket trading Thursday, after the medical and industrial products company said it launched offerings of $2.5 billion in equity securities. The offerings include $1.25 billion in shares of common stock and $1.25 billion in convertible preferred stock. The company expects to use the proceeds for general corporate purposes. Danaher's market capitalization was $114.28 billion as of Wednesday's stock closing price of $163.98. The stock, which closed at a record $169.51 on April 27, has gained 6.8% year to date through Wednesday, while the SPDR Health Care Select Sector ETF , of which Danaher is a component, has slipped 2.9% and the S&P 500 has declined 11.8%.
Danaher Corporation (NYSE:DHR) ("Danaher") announced today that it has commenced concurrent offerings of $1.25 billion of shares of common stock and $1.25 billion of shares of Series B Mandatory Convertible Preferred Stock, subject to market and other conditions (the offerings). Danaher expects to grant the underwriters separate 30-day options to purchase up to an additional $187.5 million of shares of common stock, and up to an additional $187.5 million of shares of mandatory convertible preferred stock.
Danaher (DHR) delivered earnings and revenue surprises of 5.00% and -0.16%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
Danaher Corporation (NYSE: DHR) ("Danaher" or "the Company") today announced that Executive Vice President, Rainer M. Blair, will succeed Thomas P. Joyce Jr. as President and Chief Executive Officer and as a member of the Company's Board of Directors, upon Mr. Joyce's retirement from these positions on September 1, 2020. Mr. Joyce will continue as a senior advisor at Danaher through February 28, 2021.
Danaher Corporation (NYSE: DHR) (the "Company") today announced results for the quarter ended April 3, 2020. All results in this release reflect only continuing operations unless otherwise noted.
Danaher (DHR) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
Danaher Corporation (NYSE: DHR) announced today that its Board of Directors has approved a regular quarterly cash dividend of $0.18 per share of its common stock, payable on July 31, 2020 to holders of record on June 26, 2020. In addition, Danaher announced today that its Board of Directors has approved a quarterly cash dividend of $11.875 per share of its 4.75% Series A Mandatory Convertible Preferred Stock, payable on July 15, 2020 to holders of record on June 30, 2020.