|Bid||97.25 x 800|
|Ask||97.32 x 800|
|Day's Range||96.57 - 98.50|
|52 Week Range||69.20 - 100.28|
|PE Ratio (TTM)||35.73|
|Earnings Date||Jul 23, 2018 - Jul 27, 2018|
|Forward Dividend & Yield||0.48 (0.49%)|
|1y Target Est||92.00|
General Electric’s (GE) CEO John Flannery, who took the position last August, got a shot in the arm on May 21. GE said it would spin off its Transportation segment and simultaneously combine it with Wabtec, a manufacturer of equipment used in the railroad (TRN) industry.
The details behind the deal suggest it's good news for GE shareholders-- but won't convince the bears watching the stock.
The Dow endured another volatile week marked by key geopolitical developments.
American Century Ultra Fund (TWCUX) got it right with Wabtec — also known as Westinghouse Air Brake. The $11.4 billion portfolio is underweight in industrials, but its managers nonetheless made room for the locomotive equipment maker, starting in 2010. "Wabtec fits our quality, durable-growth philosophy based on the management team, their track record and a business with a strong operating margin averaging 17% over the last five years," client portfolio manager Kevin Lewis told IBD.
as chief executive last August, as the company faced a host of problems including downturns in key markets and lingering liabilities from its financial services operations, he had taken a “deliberate and methodical” approach to change, he told the attendees.
If General Electric Co. makes another cut to its dividend in the middle of a breakup, will it still hurt? The short-term answer is yes: GE’s stock plunged on Wednesday after CEO John Flannery said the fate of the payout is partly dependent on the steps he takes to unwind the company’s conglomerate structure. Speaking at an annual spring confab for industrial bigwigs, Flannery said he needs to see how the merger of GE's transportation unit with Wabtec Corp. announced this week "plays out".
Edison and Westinghouse famously battled over the future of electrical distribution—alternating current vs. direct current—resulting in insults and publicity stunts, including Edison electrocuting animals in his New Jersey laboratory in an unsuccessful attempt to illustrate the dangers of Westinghouse’s AC. Westinghouse founded the Westinghouse Air Brake Co. in 1869 and the Westinghouse Electric Corp. in 1886.
General Electric has agreed to merge its transportation segment with Wabtec, with total proceeds to the company and its shareholders exceeding $10 billion.
TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer thinks General Electric's merger of its transportation business with Wabtec for $11.1 billion gives "optionality."
General Electric (GE) enters into a definitive agreement to merge its operating segment, GE Transportation, with Wabtec Corporation.
Calling a bottom in General Electric GE has been among the more painful and fruitless endeavors on Wall Street over the past decade. A top technical analyst has a simple message: Don't hold your breath. "The stock has moved through this $15 level, a little bit of a near-term breakout," Ari Wald, head of technical analysis at Oppenheimer, told CNBC's " Trading Nation " on Monday.
General Electric Co. agreed to merge its railroad business with Wabtec Corp. in a deal valued at roughly $11 billion, letting GE raise some cash to fund its turnaround and shed one of its oldest operations. The transaction is the first major portfolio move in GE Chief Executive John Flannery’s attempt to revamp the struggling industrial conglomerate. Mr. Flannery, who took over as CEO in August, has promised to update investors by the end of June with his plans for GE’s three core units: aviation, health care and power.
As stocks rose on easing worries over trade, General Electric announced it is selling its rail business to Wabtec, and Micron Technology raised guidance.
Says CEO: "Pittsburgh is where we've been for 149 and a half years, and I think it's going to present opportunities."
The deal, first reported by Reuters on Sunday, is the biggest to be inked thus far by GE Chief Executive John Flannery since he announced a major overhaul of the U.S. industrial conglomerate late last year. The transaction values the GE transportation business, which makes train engines, at $11.1 billion. GE will receive a $2.9 billion up-front payment in cash and a 9.9-percent stake in the combined company, with GE shareholders awarded 40.2 percent and existing Wabtec shareholders owning 49.9 percent.
The deal, earlier reported by Reuters and later confirmed by both companies, will see GE receiving $2.9 billion in cash from Westinghouse Air Brake Technologies Corp., also known as Wabtec as the groups combine to create a transportation group with annual revenue of $8 billion. GE shareholders will hold about 50.1% of the combined group, the companies said, and will maintain the right to increase that ownership percentage going forward. GE's 50.1% equity stake will be split into two stakeholders, Cowen equity analyst Gautam Khanna said.
as the trade war rhetoric between the U.S. and China cooled. The Dow traded above 25,000 on Monday for the first time since March 16. General Electric rose 1.94% after reaching an $11.1 billion deal with Wabtec Corp.
Shares of General Electric Co. flirted with kicking off a new bull market Monday, but just missed at the close, as investors cheered the industrial conglomerate’s $11.1 billion deal to merge its struggling transportation business with Wabtec Corp. Many on Wall Street define a bull market as a rise of 20% or more off a bear market low. It would take a close above $15.39 to kick off a new bull market.
General Electric will merge its locomotives business with Wabtec in a deal worth about $11.1 billion as the industrial giant accelerates turnaround plans.
Moody's Investors Service ("Moody's") has affirmed all ratings for Westinghouse Air Brake Technologies Corp. ("Wabtec"), including its Baa3 senior unsecured rating, in response to the company's planned merger with the GE Transportation division of General Electric Corporation ("GE").
General Electric in a $20 Billion deal with Wabtec — a rail equipment maker. It's a new bull market for GE -- up around 20% from those multi-year lows hit in April.