|Bid||8.76 x 800|
|Ask||8.77 x 38800|
|Day's Range||7.97 - 8.87|
|52 Week Range||7.72 - 19.39|
|Beta (3Y Monthly)||0.60|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jan 22, 2019 - Jan 28, 2019|
|Forward Dividend & Yield||0.04 (0.50%)|
|1y Target Est||13.97|
Yahoo Finance's Julie Hyman highlights todays stocks on the move in midday trading.
U.S. stocks sliding in Monday's trading session, with the tech sector weighing on markets. Plus - Apple getting lit up as JPMorgan gets bearish - its the call of the day. And - GE on the ropes - have share hit crisis mode? Plus - Netflix shares down - but the news isn't all bad, at least when it comes to pricing. We have the story. Catch The Final Round at 3:00 p.m. ET with Jen Rogers, Yahoo Finance's Editor-at-Large Brian Sozzi and markets correspondent Myles Udland.
to just above 50%, a release from lock-up restrictions that prevented GE from shedding shares of the oilfield services company until July 2019, and a series of long-term commercial agreements with Baker Hughes. GE currently owns 62.5% of Baker Hughes, which has a market capitalization of $26 billion. Baker Hughes will purchase 65 million shares from GE, subject to a $1.5 billion cap under the company's existing buyback authorization.
The sale of Baker Hughes stock will bring GE's stake to just over 50 percent in the oil field services company. GE CEO Larry Culp told CNBC on Monday that he feels the urgent need to reduce the company's leverage, saying he will do so through asset sales. General Electric GE will reduce its stake in Baker Hughes to a slight majority position, the company announced Tuesday, bringing in much-needed cash for the embattled industrial conglomerate.
GE had revealed in June that it planned to sell its Baker Hughes stake, but the company has come under pressure from investors to speed up the divestiture.
The Baker Hughes ownership saga goes back to the autumn of 2014 at the start of oil’s bear market. When those plans finally unraveled in the spring of 2016, Baker Hughes was left at the altar with a $3.5 billion cash consolation prize. It didn’t take long for General Electric to come knocking with an offer that at least promised much likelier regulatory approval: a merger of its own struggling oil-field-equipment business with the more service-oriented Baker Hughes that gave existing shareholders a payout of $17.50 a share in cash.
GE will sell as many as 166.2 million shares in the oilfield-services provider through a secondary offering and a stock repurchase by Baker Hughes, the companies said in statements Tuesday. Culp’s decision punctuates the pivot away from oilfield businesses championed by former CEO Jeffrey Immelt, who spent $10 billion on deals in the decade through 2013 and agreed in 2016 to merge GE’s oil businesses with Baker Hughes.
FAIRFIELD, Conn., Nov. 13, 2018 -- CompanyGeneral Electric CompanyISINUS3696041033SymbolLondon: GEC | Paris: GNEHeadlineDoc re: GE files Form 8-k November 13, 2018 On.
The Dow Jones Industrial Average rose on Tuesday, a session after the blue-chip index fell 600 points as tech shares led the selloff. fell 1.8% despite the home-improvement retailer posting stronger-than-expected third-quarter earnings and boosting its full-year profit guidance. rose 1% on Tuesday even after analysts at Goldman Sachs cut their estimate for iPhone sales.
Its the latest divestiture for the embattled conglomerate, whose stock has slid to multiyear lows, as new CEO Larry Culp tries to right the ship.
The annual cost to insure against a default by GE for five years climbed above 200 basis points for the first time in years, credit-default swap prices from CMA show. Yields on some of GE’s bonds have also reached levels that are in line with junk-rated bonds, Bloomberg Barclays index data show. Chief Executive Officer Larry Culp tried to reassure investors that the company is prioritizing debt reduction in its effort to combat a multiple-front crisis in a televised interview on Monday, when the bond market was closed.
Of all the companies that have fallen from grace over the past two decades, none is more indicative of the times we are in today than General Electric (GE). Since the turn of the century, this company has wilted from being one of the world's largest conglomerates, dominating industry all over the world, to a company that is struggling to survive, with flagging sales and a ruined balance sheet. Warning! GuruFocus has detected 1 Warning Sign with AMZN.
OPEC’s dire forecast for 2019 demand came at a time of steadily rising American production and stockpiles. Trump admonished Saudi Arabia for planning to curb output in a matter of weeks and lamented prices that dipped below $57 a barrel for the first time since December aren’t even lower.
General Electric Co (GE.N) on Tuesday unveiled a plan to raise about $4 billion by accelerating a proposed sale of a stake in oilfield services provider Baker Hughes (BHGE.N), its latest move to simplify its businesses and reduce debt. Under the deal, the Boston-based industrial conglomerate will sell up to 101.2 million shares on the market and Baker Hughes will repurchase another 65 million shares from its parent. After the announcement, shares of GE rose 4.5 percent to $8.35, while Baker Hughes was up about half a percent.
General Electric Co (GE.N) on Tuesday unveiled a plan to raise about $4 billion (3 billion pounds) by accelerating a proposed sale of a stake in oilfield services provider Baker Hughes (BHGE.N), its latest move to simplify its businesses and reduce debt. Under the deal, the Boston-based industrial conglomerate will sell up to 101.2 million shares on the market and Baker Hughes will repurchase another 65 million shares from its parent. After the announcement, shares of GE rose 4.5 percent to $8.35, while Baker Hughes was up about half a percent.
The Russell indices mentioned previously all have "Growth" and "Value" sub-indices, and the performance disparity between these two told the tale. For instance, the Russell 1000 Growth Index was down 2.5% while the Value Index was down about 1.4%. Within the Russell 2000, the disparity between Growth and Value was even wider, at 1.25 percentage points, at wider still within the Microcap Index, with Value better than Growth by more than 1.5 percentage points.
ALLENTOWN, Pa., Nov. 13, 2018 /PRNewswire/ -- PPL Electric Utilities and GE Power Digital announced a joint initiative to develop and test software to manage and control electricity from renewable and stored energy sources. The initiative will enable both companies to learn more about the impact of this type of power — called Distributed Energy Resources (DER) — on grid management and accelerate the advancement of technology to support it. DERs are local electricity generation, storage and other energy resources typically connected to the grid at the distribution level.
As part of its major restructuring plan, General Electric (GE) intends to spin off its Healthcare segment and turn it into a standalone entity. The company has planned the spin-off in a manner that maximizes shareholder wealth.
The agreements are related to selling part of GE’s stake in Baker Hughes plus the long-term commercial and technological relationships between the two companies.
Air Products' (APD) latest deal expands the company's syngas solutions offerings and boost presence in build, own and operate gasification projects across the globe.