|Bid||12.450 x 21500|
|Ask||12.460 x 47300|
|Day's Range||12.360 - 12.690|
|52 Week Range||11.940 - 25.210|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 25, 2018|
|Forward Dividend & Yield||0.48 (3.78%)|
|1y Target Est||16.89|
also joined the party, as investors assessed the risk landscape amid rising bond yields and higher crude oil prices and looked past trade war worries. The Dow has risen more than 300% since it bottomed out at 6,470 intraday on March 6,2009 during the nadir of the financial crisis that rocked Wall Street a decade ago.
JPM views GE's recent gas turbine failure in Texas as a "negative development for a company that has little wiggle room" for its struggling power business.
GE said the problem is an “oxidation issue” related to a metal alloy that could cause distress on the fan blades of its HA gas turbine, hulking machines that generate electricity for thousands of homes. The issue was found after “an event” a few weeks ago at Exelon’s Colorado Bend plant near Houston, where the utility had installed two of the new turbines in June 2017, an Exelon spokeswoman said. As a result, Exelon shut down the new turbines at the plant and two HA turbines at a second gas-powered plant Wolf Hollow near Fort Worth.
The company's cash -- GE is burning cash from operations but presumably will receive cash proceeds from divestitures -- would be much better utilized to service debt in the near term and buy back stock over the longer term. The consensus forecast for GE's 2019 earnings per share is exactly one dollar. It's impossible to know what each analyst is thinking in terms of the composition of GE in 2019 with regard to timing of divestitures, but a buck is a round figure and it's a good benchmark.
The Dow Jones Industrial Average was the last among Wall Street's main indexes to regain record territory on Thursday as technology companies led a broad-based rally and trade worries faded. Tech stocks lead all three major U.S. indexes higher, with the S&P 500 also hitting a new high.
The company said it had discovered an “oxidation issue” related to its HA power plant turbines that debuted in 2016.
GE shares fall after the Wall Street analyst who has been the most downbeat on the industrial conglomerate is now even more bearish, citing increased concerns about the company’s power business.
Shares of General Electric Company ( GE) fell more than 3% on Thursday after JPMorgan cut its price target on the stock to $10.00. The analyst team believes that recently disclosed problems with GE's gas turbines could spell more trouble for the firm's power division. The problems come as the company continues to sell off its assets in an attempt to trim down its massive footprint and focus on its core competencies.
Former General Electric Vice Chair and chief marketing officer Beth Comstock has a message for corporate America: fight for the future.
The problem was first discovered on turbine blades in a natural gas-fueled turbine operated by Exelon Corp (EXC.N) in Texas a few weeks ago, GE told Reuters. The problem forced Exelon to shut down one turbine. Exelon said it shut down its three other units as a precaution.
"This issue, if not quickly resolved, could hurt GE's turbine brand image and market share," Jim Corridore, an analyst at CFRA, said in a note, cutting his price target to $14 from $15. GE stock was down 3 percent at $12.49 on the New York Stock Exchange. The problem was first discovered on turbine blades in a natural gas-fueled turbine operated by Exelon Corp in Texas a few weeks ago, GE told Reuters.
The Dow Industrial Average was the last among Wall Street's main indexes to regain record territory on Thursday, as investor concerns over U.S.-China trade spat cleared away and focus shifted to the strength of the economy. The blue-chip index, which had lagged the Nasdaq and the S&P in its recovery, jumped 1 percent to surpass the level touched on January 26. While trade-sensitive industrial stocks such as Boeing and Caterpillar powered the Dow's rally, technology stocks lifted the S&P 500 to a fresh record.
Ryan McQueeney recaps morning news involving Under Armour, Nvidia, General Electric, and Red Hat. Later, he is joined by momentum guru Dave Bartosiak to discuss the Dow hitting a new all-time high and to speculate over where our major indexes might finish the year.
The Dow and the S&P 500 hit record highs on Thursday, clearing away investors' immediate concerns over trade at the start of this week and leaving Wall Street free to return to a rally that now dates back a decade. Nine of the 11 major S&P sectors were higher, and the Dow Industrials, which had lagged the Nasdaq and the S&P, quickly moved back into record territory in morning trade.
General Electric Co said on Thursday that four of its flagship power turbines in the United States have been shut down due to a problem with turbine blades that was discovered at an electrical power plant ...
stock plummeted on Thursday, Sept. 20, after the head of its power unit confirmed an issue with a new model of its gas turbine. The Boston-based company discovered an "oxidation issue" that could cause distress on blade components of the HA gas turbine. "Obviously, this was a frustrating development, for us, as well as for our customers," GE Power CEO Russell Stokes wrote in a LinkedIn post.
shares slumped Thursday after JPMorgan analysts cut their price target on the struggling conglomerate amid concerns that a key gas turbine launch would hit the group's earnings. Lead analyst Stephen Tusa, who has an Underweight rating on the stock, lowered this price target from $11 to $10 a share as he reiterated concerns for the company's power division. Tusa said that checks on two initial U.S. installations revealed failures of the first stage blade of GE's H-frame gas turbine, and lowered his 2019 EPS from $0.80 cents a share to $0.75 cents a share (against a Street consensus $1.04) and to $0.82 from $0.92 cents a share in 2020.
From a fundamental perspective, there’s not much to like about General Electric (NYSE:GE). For them, they may not sweat the decline in GE stock if they buy now or did so recently. This guy has been nailing GE stock and successfully called the big decline before it happened.
General Electric Co said on Thursday that it had discovered a problem with a turbine blade at an electrical power plant in Texas owned by Exelon Corp. General Electric said in an email to Reuters that the problem was discovered a few weeks ago in a GE HA-class turbine at Exelon's Colorado Bend plant and that it expects "the same issue to impact other HA units." GE has shipped 51 such units. The email confirmed an analyst report earlier on Thursday that sent GE's stock lower.
U.S. stock index futures pointed to a higher opening on Thursday, extending a bounce since the latest blows in the U.S.-China trade spat this week on the back of a recovery for technology stocks. The tech-heavy Nasdaq, which has gained the most of Wall Street's three big indexes this year despite the trade hiccups, ended the session slightly lower on Wednesday but showed signs of a higher opening. Among components of the FAANG group of stocks, Netflix inched up 0.8 percent in premarket trading, after ending the session lower on Wednesday.
Moody's Investors Service has affirmed the Aaa issuer rating of Singapore Technologies Engineering Ltd. (STE). At the same time, Moody's has affirmed the (P)Aaa rating of the medium-term note (MTN) program of ST Engineering Financial I Ltd, a wholly-owned and guaranteed special purpose funding subsidiary of STE. The outlook for the ratings is stable.
Traders Joe Terranova, Steve Weiss and Jon and Pete Najarian are joined by Meghan Shue, senior investment strategist at Wilmington Trust, to discuss the General Electric target cut by J.P. Morgan.