|Bid||107.22 x 44200|
|Ask||107.26 x 100000|
|Day's Range||106.42 - 107.40|
|52 Week Range||84.42 - 119.90|
|Beta (5Y Monthly)||1.04|
|PE Ratio (TTM)||16.78|
|Earnings Date||May 08, 2020|
|Forward Dividend & Yield||3.90 (3.64%)|
|Ex-Dividend Date||Feb 06, 2020|
|1y Target Est||N/A|
General Electric is making major changes after a brutal couple of years. Here is what the fundamentals and technical analysis say about buying GE stock now.
Europe's future must be based on fair competition rules, EU antitrust regulators said on Monday, after Germany and France reiterated calls for a speedy overhaul of the bloc's rules to help EU companies better compete with U.S. and Chinese rivals. French Finance Minister Bruno Le Maire, German Economy Minister Peter Altmaier, Italian Industry Minister Stefano Patuanelli and Poland's Development Minister Jadwiga Emilewicz in a joint letter to EU competition and digital chief Margrethe Vestager called for proposals by the end of June. Le Maire and Altmaier kicked off the debate more than a year ago after Vestager vetoed Siemens and Alstom's bid to merge their rail operations to face off Chinese competitors.
BlackRock, the giant fund manager, has publicly scolded German engineering group Siemens for an Australian project criticized by environment activists.
A leading electric vehicle charging network and a trade group that represents America's travel plazas and truck stops said on Thursday they plan to leverage $1 billion through public and private funding sources over the next decade to encourage the broader adoption of EVs. Automakers Volkswagen AG, General Motors Co and Ford Motor Co have announced plans to spend billions of dollars over the next several years launching EVs in a bid to directly challenge electric carmaker Tesla Inc, which has its own network of charging stations.
BlackRock has rebuked Siemens over its role in a controversial Australian coal-mining project, in a rare intervention from an asset manager that has come under increasing fire for failing to hold companies to account on issues such as climate change. The world’s largest asset manager said on Thursday that one of Germany’s largest industrial companies had failed to fully consider the “breadth of risks” of an infrastructure deal at the A$2bn Carmichael coal mine in Queensland. In December, Siemens signed an €18m contract to provide rail signalling systems for Carmichael, which quickly became a lightning rod for environmental activists and sparked a global campaign to force the company to pull out of the agreement.
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Joe Kaeser has a difficult year ahead as he prepares his last major moves at the helm of Europe’s biggest engineering company.The Siemens AG chief is the target of environmental protests Wednesday over a controversial Australian coal mine contract, and reported a steep earnings decline even before the virus epidemic slows growth in major market China.“We got off to a somewhat slow start into the new fiscal year,” Kaeser said before a shareholder meeting in Munich. The German industrial giant’s main gauge of quarterly profit fell 30%, and the company said it’s not ruling out further job cuts at the energy division.Siemens is planning to name Kaeser’s successor later this year ahead of the end of his mandate in 2021. In the run up, the CEO is facing increasing pressure from environmental activists to pull out of a contract to supply equipment to the coal mine. The controversy has led to noisy demonstrations at company locations across Germany.Kaeser dug in on Wednesday, calling the movement against the company “almost grotesque” and vowing to deliver the signaling system for the mine as planned. Greenpeace unfurled a “Bush Fires Start Here” banner on its headquarters ahead of the investor meeting, where protesters stood outside chanting and holding signs bearing messages like “Siemens Climate Killer” and “We have a right to talk.”Read more: Siemens Stands by Australian Coal Project Despite Climate OutcryKaeser has “an attitude problem and our hope is his successor acts differently,” Volker Gassner, a representative of Greenpeace Germany, said in an interview.Some investors were also critical of the project and its possible impact on the company’s reputation.“If all environmental and reputational risks had been carefully examined, Siemens should never have signed this contract,” said Vera Diehl, portfolio manager at Union Investment Privatfonds, which hold about 0.5% of Siemens. “Did the child first have to fall into the well so that the last person in the group realizes that coal has no future?”In what could be the last major change under his tenure, Kaeser is in the midst of revamping Siemens’s energy businesses ahead of a planned listing of the power and gas division in September.As part of the overhaul, Siemens announced Tuesday it’s raising its investment in wind turbine maker Siemens Gamesa Renewable Energy SA through the purchase of Iberdrola SA’s 8% stake for 1.1 billion euros ($1.2 billion). The Siemens Gamesa holding will be folded into the energy spinoff. Once that is complete, the company will be focused on making rail and power-distribution equipment and industrial automation software.Read more: Siemens Buys Iberdrola Stake in Turbine Maker for $1.2 BillionSiemens’s adjusted earnings before interest, taxes and amortization from the company’s industrial business dropped to 1.43 billion euros, according to a statement. This compared with the average company-compiled analyst estimate of 1.88 billion euros.Swiss rival ABB Ltd. was more upbeat, reporting its first profit growth for three quarters driven by cost savings and demand from industries from food to packaging. The companies compete in supplying factory automation gear.Siemens shares fell as much as 2.3% before rising 0.7% to 113.74 euros at 1:39 p.m. in Frankfurt. ABB stock rose as much as 5.1%.Siemens Earnings HighlightsRevenue fell 1% to 20.32 billion euros on a comparable basis v. Bloomberg-compiled estimate of 20.72 billion euros.Orders fell 4% on a comparable basisThe company confirmed full-year guidance; CEO said he still sees short cycle recovery in second half(Adds comments from Greenpeace, investor from sixth paragraph.)To contact the reporter on this story: Oliver Sachgau in Munich at email@example.comTo contact the editors responsible for this story: Anthony Palazzo at firstname.lastname@example.org, Tara PatelFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
European shares retreated from recent gains on Wednesday as concerns over the virus outbreak in China persisted, while markets also waited for service-sector activity data from the bloc. The pan-European STOXX 600 index fell 0.2% by 0803 GMT, having recently recovered from a week of heavy selling as investors gauged the economic fallout from the fast-spreading coronavirus. The focus now turns to the January reading for IHS Markit's services purchasing managers' index, which is expected at 0900 GMT.
The separation and planned listing of Siemens's energy business is on track to be completed in September, Siemens Chief Executive Joe Kaeser said on Wednesday. Siemens will soon decide on the location of the new company's headquarters and expects its carve-out from the rest of the company to be mostly completed by the end of March, he said. An extraordinary general meeting will take place on July 9 to get shareholder approval, while a capital markets day is planned for September, Kaeser told a news conference.
Siemens AG said late Tuesday that it would acquire Iberdrola SA’s stake in Siemens Gamesa Renewable Energy SA for 1.1 billion euros ($1.22 billion).
Siemens came under increased pressure from climate change protesters and its own shareholders on Wednesday over a contract to supply an Australian coal mine, demanding that Chief Executive Joe Kaeser cancel the deal. Inside, a procession of shareholders queued up to support their call, worried about the environmental impact and carbon emissions from the project. As the company announced weaker-than-expected earnings, Kaeser said Siemens would become climate neutral by 2030 and it was "almost grotesque" that it had been singled out by environmentalists for criticism.
Siemens’ embattled chief executive has lashed out at “almost grotesque” environmental protests, as he faced the ire of investors over his company’s handling of a controversial Australian coal contract. With bushfires raging across Australia, the minor contract became a flashpoint for climate campaigners, who demanded that Siemens renege on its agreement with the site’s Indian developer, Adani. outside company premises and a social media uproar spurred on by high-profile activists such as Greta Thunberg, Mr Kaeser announced that there was “no legally and economically responsible way to unwind the contract”.
Siemens is buying Iberdrola's stake in Siemens Gamesa renewable energy , the German engineering company said, as it prepares to merge the business with its own energy unit ahead of a floatation later this year. Siemens on Tuesday approved the purchase of the Spanish utility's 8.1% stake in SGRE, at a price of 20 euros ($22.08) per share. Siemens will pay 1.1 billion euros and will transfer the shares to its future Siemens Energy unit, combining it with its gas and power business, the Munich company said.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of EIF Channelview Cogeneration, LLC 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. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
Siemens Healthineers' operating income slipped 11% in the first quarter of its financial year, despite higher revenue, as the German company sold less profitable imaging machines and incurred ramp-up costs for its new blood-testing machines. First-quarter revenue rose 8.7% to 3.59 billion euros, slightly above expectations, the Siemens subsidiary said, adding it was maintaining its outlook for 2020 fiscal year through September, predicting growth in adjusted earnings per share of 6% to 12%. Siemens Healthineers' shares were down 4.6% at 1057 GMT to a three-month low, with Credit Suisse analysts saying that while the Atellica challenges had been known, weak imaging margins posed a new concern.
Bloomberg is reporting GE might sell its troubled steam power division. It’s a small subset of GE Power. But investors would still likely cheer the sale...just not today.
(Bloomberg Opinion) -- The European Union is getting close to unveiling a ballyhooed “industrial strategy,” the better to give the continent’s companies a leg up in competing against American and Chinese rivals. Not so fast. Based on what’s leaked so far, half of the proposals sound reasonable, but the other half could prove disastrous. It’s not too late to rethink.This latest push for an industrial strategy started last year, after the EU’s antitrust czar, Margrethe Vestager, wisely blocked a rail merger between two manufacturing giants, Alstom SA of France and Siemens AG of Germany, because their combined market power would’ve been bad for customers. Predictably, France, with its long history of coddling “national champions,” complained.More surprisingly, so did Germany, which has a tradition that favors tough competition law and otherwise eschews state intervention. What changed minds in Berlin was the perceived competitive threat from China. It would be naive for Europe not to nurse its own continental champions, Chancellor Angela Merkel said.This vogue for European champions is the product of flawed logic. It’s Eurocrat code for letting government officials, in Brussels or national capitals, designate specific companies or technologies as “strategic.” As the bureaucrats then mete out their largess, they fall into predictable mental traps.First, they tend to confuse size with strength, when it’s often small and obscure niche firms, such as the appropriately named “hidden champions” in Germany’s Mittelstand, that have the best shot at becoming globally competitive. Second, they assume that they’re better than private investors at knowing which firms and technologies will prevail. They’re wrong. The market is usually better at picking winners, and it’s always better at spotting losers and pulling money out of failing ventures that politicians want to keep on life support.What happens in practice is that the alleged champions become lobbying machines that seek privileges at the expense of taxpayers, smaller rivals and consumers. This is one of China’s big problems, and one reason why its state-owned enterprises haven’t blossomed even more. Ironically, Europe should panic only if China ever drops its industrial policy.What’s true for companies also applies to technologies. Brussels has set itself a laudable goal of becoming carbon neutral, but keeps misdefining its role as allocator of capital, rather than mere regulator. For example, the EU has just decided to put billions of taxpayer euros into a pot that also includes money from BMW AG, BASF SE, Fortum Oyj and others, to pay for those companies to build lithium-ion batteries for cars. If it’s a good investment, why can’t they do it with private capital alone? If it’s bad, why do it at all? And how did Brussels even decide that batteries are more “strategic” than, say, fuel cells or something else?The EU would be on firmer ground if it just stuck to supporting basic research. That’s where market failures are common, because boffins often have trouble raising funds for breakthroughs that could benefit entire industries rather than individual firms. As the internet once sprang out of a project by the U.S. Department of Defense, tomorrow’s green tech or artificial intelligence could come out of labs funded partially by the EU. But it’s the scientists who should choose what to research.By far the best industrial policy, however, is simply to focus all of the EU’s energy on completing two existing but unfinished projects. One is the so-called single market, the other the stalled integration of the EU’s disparate capital markets. The U.S. and China offer home-grown firms huge domestic markets to expand into, and the U.S. also provides deep and liquid troves of capital for that purpose. The EU doesn’t.The EU may be one market for goods, from toothpaste to MRI machines. But in services it just isn’t. Just ask a Belgian pharmacist hoping to move to Germany, or a Danish lawyer wanting to practice in Italy. Or imagine how much better cellphones would work if operators competed across the whole EU. A single market in services, moreover, is crucial for the development of fintechs and 5G, and in turn essential to progress in the “internet of things” and AI.A capital markets union worthy of the name is just as important. Thanks to America’s sophisticated finance markets, U.S. companies, from startups to behemoths, have easy access to cheap capital. By contrast, firms in the EU (excluding the U.K.) tend to get money from banks instead of venture capital, bond or equity markets. The money is there, but it’s divided into many national pots, so the cost of capital and hassle of raising it is unnecessarily high. Cross-border capital flows in the EU have been pretty flat since the 2008 financial crisis.So Brussels should get busy working down a long and unsexy list, from harmonizing 27 different insolvency and bankruptcy codes (a prerequisite for a common bond market) to re-regulating life insurers so they can invest across the whole EU. That way, Europe’s firms can tap into affordable funding to invent and build the things that will make them global champions.Brexit should be a wake-up call. The U.K. was usually able to deflect the worst ideas (often from France) about European industrial policy. And it was the only EU member with a top-notch capital market. Now the 27 other members must figure out alone how to stay competitive. In doing so, the EU should resist jettisoning its proven liberal principles for a crude economic nationalism. Europe won’t beat China by becoming Chinese.To contact the author of this story: Andreas Kluth at email@example.comTo contact the editor responsible for this story: James Boxell at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Andreas Kluth is a member of Bloomberg's editorial board. He was previously editor in chief of Handelsblatt Global and a writer for the Economist. For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
For a decade, Bill McDermott led business software company SAP to growth through a succession of multi-billion-dollar deals that built a dynamic and profitable market leader that had one flaw: complexity. Now McDermott's successors, co-CEOs Jennifer Morgan and Christian Klein, are tackling a different task - ensuring that all the elements at the $30 billion enterprise software leader work harmoniously together. The tandem arrangement is a familiar one at SAP, after McDermott shared CEO jobs at first with Jim Hagemann-Snabe, now chairman of Siemens.
The EU plans to adopt more protectionist antitrust rules and encourage businesses to share data as part of an industrial policy overhaul aimed at giving European companies a sharper edge in global markets, a strategy document seen by Reuters shows. Drafted by the European Commission and set to be unveiled in March, the strategy also includes the more aggressive use of trade defence instruments against companies deemed to be benefiting unfairly from foreign subsidies. "Our vision is not about shielding uncompetitive industries or encouraging protectionist policies ... At the same time, the EU cannot be complacent about third countries or companies undermining fair competition in the single market on global markets," the document said.
Siemens is buying Indian electrical equipment maker C&S Electric in a 267 million euro ($296.21 million) deal, the German industrial group said on Friday. The privately held New Delhi-based company makes low-voltage switchgear parts, metering devices and other products used to transmit and distribute electricity, Siemens said. The C&S deal comes as Siemens reorganises itself around its smart infrastructure and industrial automation businesses when it spins off its energy business this year.