GE - General Electric Company

NYSE - NYSE Delayed Price. Currency in USD
9.56
-0.34 (-3.43%)
At close: 4:00PM EDT

9.58 +0.02 (0.21%)
After hours: 7:58PM EDT

Stock chart is not supported by your current browser
Previous Close9.90
Open9.81
Bid9.57 x 1800
Ask9.59 x 800
Day's Range9.47 - 9.83
52 Week Range6.40 - 14.15
Volume56,483,382
Avg. Volume79,424,164
Market Cap83.371B
Beta (3Y Monthly)0.92
PE Ratio (TTM)N/A
EPS (TTM)-2.08
Earnings DateJul 18, 2019 - Jul 22, 2019
Forward Dividend & Yield0.04 (0.40%)
Ex-Dividend Date2019-03-08
1y Target Est12.76
Trade prices are not sourced from all markets
  • Former GE Vice Chair Beth Comstock stresses 'patience' with GE stock, CEO Larry Culp
    Yahoo Finance Video2 days ago

    Former GE Vice Chair Beth Comstock stresses 'patience' with GE stock, CEO Larry Culp

    GE shares have dropped by about 3% since a top analyst who follows the company for JPMorgan said the company was sugar coating guidance for its power business in a note last week. Yahoo Finance's Zack Guzman & Heidi Chung discuss with former General Electric Vice Chair Beth Comstock.

  • Take an inside look at the life of Steph Curry in 'Stephen vs The Game'
    Yahoo Finance Video2 days ago

    Take an inside look at the life of Steph Curry in 'Stephen vs The Game'

    The creator of 'Stephen vs The Game' Gotham Chopra and Religion of Sports CEO Ameeth Sankaran discuss the Golden State Warriors going to their 5th straight NBA Finals, as well as their new docuseries documenting Steph Curry. They join Yahoo Finance's Zack Guzman and Heidi Chung to discuss.

  • GE CEO Adds This New Twist To His Ambitious Turnaround Campaign
    Investor's Business Daily4 hours ago

    GE CEO Adds This New Twist To His Ambitious Turnaround Campaign

    As GE pursues a turnaround, CEO Larry Culp will prioritize stabilizing power and reducing debt - then turn to the troubled financial services unit. GE stock eased.

  • Barrons.com7 hours ago

    GE Stock Is in a Holding Pattern

    After CEO Larry Culp spoke at an investor conference, bulls still like him and bears still fret about GE Power.

  • Barrons.com8 hours ago

    Joe Duran: A Maverick Joins Goldman Sachs

    United Capital’s founder says the $750 million acquisition by a Wall Street institution isn’t a sellout but rather the next step in transforming the wealth management landscape.

  • General Electric Stock Is Full of Peril
    InvestorPlace8 hours ago

    General Electric Stock Is Full of Peril

    General Electric (NYSE:GE) stock, once among the most boring names in the Dow Jones Industrial Average, is now facing constant danger.Source: Shutterstock It met earnings guidance for the first quarter but its asset sale to Danaher (NYSE:DHR) may be in trouble. Fears over its pension liability may be overblown but it has a grim future.CEO Larry Culp is "the man for the job" but GE Power may take three years to recover.InvestorPlace - Stock Market News, Stock Advice & Trading TipsGeneral Electric is a great name, and Culp did a fine job at his previous post running Danaher. But this turnaround may be a bridge too far, and do you really want your money tied up in it? Forget the Name General ElectricThere is romance attached to the name General Electric, and over 130 years of history. In analyzing the company, you need to forget the history, or you'll get lost.Let's call this company Culp Industries. * 6 Stocks to Buy for This Decade's Massive Megatrend Culp Industries is a conglomerate with a market cap of $84 billion. It has $107.5 billion in "borrowings," $36.8 billion of insurance liabilities and annuity benefits (from a failed effort in long-term-care insurance), and $32.9 billion in "non-current compensation and benefits" (mainly pensions). This leaves $35.2 billion for "shareholder equity" on the books, up from $31 billion a year ago.Culp Industries consists of several businesses, some of which are doing well and some of which are doing poorly. The Aviation, Healthcare and lending businesses are doing well. The oil and gas business made a little money. The problems are in the power and renewable energy units, which make turbines and related equipment.Culp can't sell the problem children because their value is negative. Closing them would take out $7 billion in revenue and do nothing to reduce those liabilities. The Danaher deal trims the size of the healthcare unit but brings in about $21 billion. Apply that $20 billion to the balance sheet and it takes just one-fifth of the debt. Questions for GE StockIt's the power unit that's taking the whole company down. Respected JPMorgan Chase analyst Stephen Tusa says Culp "appears to be stopping short of telling the whole story" about the unit, which is losing market share. Cash flow for the unit is now seen as "significantly negative." There are more negative data points. General Electric continues to lay off workers, quietly moving jobs to India. The healthcare unit's activities in Brazil could draw fines under the Foreign Corrupt Practices Act.Culp is doing everything he can, short of changing his company's name to Culp Industries, to make investors forget about the old General Electric. He's turning over the board and has dumped plans to build a glorious new headquarters in Boston. Instead, the company will rent space.I can't imagine anyone doing a better job with the hand he has been dealt than Larry Culp. He has moved decisively to reduce cash flow drain, focused on operations that are making money, and created a new attitude for GE stock.If the oil and gas unit, Baker Hughes (NYSE:BHGE), has a winner in its "electric fracking" equipment, more good news could be on the way. BHGE stock is doing better than rivals Schlumberger (NYSE:SLB) and Halliburton (NYSE:HAL), but its value is still down by more than one-third in the last year. The Bottom LineI wouldn't buy Culp Industries here. There are green shoots, the CEO is doing what he can, but an economic downturn could sink the company's big plans at any time -- even at $10 per share.Dana Blankenhorn is a financial and technology journalist. He is the author of a new environmental story, Bridget O'Flynn and the Bear , available now at the Amazon Kindle store. Write him at danablankenhorn@gmail.com or follow him on Twitter at @danablankenhorn. As of this writing he owned shares in JPM. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 6 Stocks to Buy for This Decade's Massive Megatrend * The 7 Best Stocks to Buy From the IPO ETF * 7 Athletic Apparel Stocks With Marathon Pace Compare Brokers The post General Electric Stock Is Full of Peril appeared first on InvestorPlace.

  • MarketWatch8 hours ago

    GE's stock falls to erase all gains made after upbeat Q1 earnings produced a technical breakout

    Shares of General Electric Co. sank 2.9% in morning trade Thursday, putting them on track to erase all the gains made after the industrial conglomerate reported upbeat first-quarter results on April 30. GE's post-earnings high close was $10.50 on May 3. In the process, GE's stock has fallen back below both the 50-day moving average (short-term trend tracker) and the 200-day moving average (dividing line between longer-term uptrends and downtrends) for the first time since April 29. At an electrical products conference Wednesday, Chief Executive Larry Culp reiterated that fixing the struggles at its power business would not be easy, and remained a "multi-year" process. Meanwhile, the 50-DMA has turned lower, to $9.847 from $9.852 on Wednesday, indicates that the bullish "golden cross" pattern that was on track to appear as early as this week is now in doubt, as the 200-DMA slipped to $9.864 from $9.879 on Wednesday. Many chart watchers see a golden cross, when the 50-DMA crosses above the 200-DMA, as marking the spot that a shorter-term bounce graduates into a longer-term uptrend. The last time the 50-DMA was above the 200-DMA was March 6, 2017. GE's stock was still up 32.1% year to date, while the Dow Jones Industrial Average has gained 8.8%.

  • Despite Uncertainty, the Speculative Case for GE Stock Is Still Solid
    InvestorPlace10 hours ago

    Despite Uncertainty, the Speculative Case for GE Stock Is Still Solid

    GE (NYSE:GE) stock held steady following a question and answer session at the Electrical Products Group Conference. Though troubles remain for the Boston-based industrial conglomerate, investors and analysts have begun to believe in the turnaround plan put forth by CEO Larry Culp. GE stock still trades in a range.Source: Shutterstock Also, it did not move significantly even though Culp reaffirmed negative cash flow forecasts for 2019. Nonetheless, if his plan continues to reduce debts, spin off non-core operations, and turn profits, General Electric stock will break much higher in the coming quarters and years.Culp confirmed that the company expected negative free cash flow of $2 billion in this fiscal year. However, he also expects this outflow to end in 2020 and sees a cash flow "acceleration" in 2021. GE's latest earnings report and now this newest affirmation seemed to quiet many of the doubters who had all but left the company for dead.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 6 Stocks to Buy for This Decade's Massive Megatrend In previous articles about GE stock, I repeatedly complained about what I called a "constant drip" of new issues. The seemingly endless litany of bad news led GE's board to fire John Flannery in favor of Culp, the former CEO of Danaher (NYSE:DHR), last October. GE Really Might RecoverNow, just seven months into Culp's tenure, the litany of new troubles appears to have come to a stop. Instead, we see signs of an emerging recovery. GE beat both revenue and earnings estimates in the previous quarter.Also, investors remain concerned about GE Power, but they also saw early signs of improvement. Though sales volumes continue to fall, they have declined by lower rates. The division has also seen a turnaround in the value of its orders.Moreover, the long-term debt I mentioned more than three months ago has come down by more than $5 billion in just one quarter. It now stands at $91.57 billion, slightly higher than its market cap of just over $87.5 billion. Short-term debt rose by almost $2.9 billion in the same period. However, both long and short-term debt levels have fallen on a year-over-year basis. GE Has Far to GoTo be sure, GE is not out of the woods yet. On top of the negative free cash flow, the length of the current economic growth cycle far exceeds long-term averages. Though few predict a looming recession, the long economic expansion increases the risk of such an event. Such a downturn would at least delay a GE turnaround.Furthermore, GE Aviation, currently GE's best-performing division, faces uncertainty with its status as the sole supplier of engines for Boeing's (NYSE:BA) troubled 737 MAX.So far, the Aviation division has incurred no impairment charges related to the 737 MAX. Moreover, both orders and backlogs rose for this division on a year-over-year basis. Still, investors should watch for any Boeing-related troubles in future quarters. GE Stock Is RangeboundStill, for all of the remaining challenges, this report has further helped to quiet those who predicted the demise of GE. Moreover, General Electric stock remains in the $10 per share range, about the same levels of three months ago.Today, confidence in the company has increased, yet GE stock has traded in a range since late January. The range adds uncertainty but also gives investors more time to buy.The critical point is the equity's 2019 high of $11.30 per share. If GE can sustain itself past that point, I think the more optimistic $14 to $16 per share price target will become achievable. Concluding Thoughts on GE StockDespite concerns of range-bound trading and deeply negative cash flows in 2019, Mr. Culp's recovery plan has begun to make a recovery in GE stock appear plausible. Yes, GE continues to struggle with cash flows. However, if company forecasts hold, that should turn around by next year.Moreover, the company's divisions continue to show improved performance as revenues increase and debt levels decline. Culp also continues to sell non-core businesses. As this smaller, more-nimble GE begins to emerge, bears continue to pare back their doomsday scenarios, and a long-absent sense of confidence has started to return.GE still has a long way to go. Like any recovery, this one will also face challenges, as well as risks. However, as I stated back in February, a speculative buy case for GE has emerged.The first quarter numbers and even the continued negative cash flows reaffirm this thesis. For those who have the stomach for the risk, I think GE stock can rise much higher once it sustains itself above $11.30 per share.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 6 Stocks to Buy for This Decade's Massive Megatrend * The 7 Best Stocks to Buy From the IPO ETF * 7 Athletic Apparel Stocks With Marathon Pace Compare Brokers The post Despite Uncertainty, the Speculative Case for GE Stock Is Still Solid appeared first on InvestorPlace.

  • Can Nike Stock Hit $185 In the Next Five Years?
    InvestorPlace13 hours ago

    Can Nike Stock Hit $185 In the Next Five Years?

    As stocks go, Nike (NYSE:NKE) continues to be one of the most consistent performers in the S&P 500. Since May 23, 2014, Nike stock has more than doubled from $37.92 to $83.64 as of the May 23 close. Additionally, the five-year total return for NKE stock is 18.6%, 764 basis points better than the index.Source: rodrigofranca via FlickrThe athletic-apparel maker is a paragon of consistency, both financially and in the markets. Therefore, I don't think it's a stretch to wonder if the Nike stock price can double over the next five years like it did the five just passed.StockTwits founder Howard Lindzon has held Nike stock in his "8 to 80" portfolio for several years. These are stocks that people want to own because they also use their products and services regularly. I call that "Everyday Investing." It's a concept that I modeled after Peter Lynch's theory that you should invest in what you know.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAdmittedly, this concept isn't 100% foolproof, as the case of General Electric (NYSE:GE) demonstrated. But Nike is a much different company with fewer moving parts than the down-on-its-luck industrial conglomerate. * 7 Safe Stocks to Buy for Anxious Investors In my opinion, NKE stock has a great shot at doubling to $185 by May 23, 2024. But to do so, Nike must capture the women's market if it wants to get there. Here's why: Lululemon vs. NikeIf anyone can take down Lululemon (NASDAQ:LULU), the leader in women's athletic apparel, it would have to be Nike.InvestorPlace contributor Luke Lango recently highlighted the women's market as an important goal for the company on its way to $100 and beyond."At the current moment, Nike's revenues are dominated by the men's segment. The women's business accounts for less than a quarter of its total revenues," Lango wrote May 8. "But the global women's athletic apparel and footwear market is 50% larger than the men's athletic apparel and footwear market."Luke recommended an April CNBC article by Lauren Thomas. I'd second that recommendation. It's well written and provides the reader with a good understanding of Nike's overall business.Nike had $36.4 billion in revenue in 2018. Of that, $24.0 billion was wholesale to external customers, $10.4 billion was from Nike's brick-and-mortar and online stores, while the remainder was primarily from Converse.Of the $30.3 billion in wholesale (it includes $6.3 billion to Nike Direct), $6.9 billion was women's, 22.8% of the company's overall 2018 revenue.In April, Lululemon stated that it wants to double its men's revenue by 2023. In 2018, the men's business accounted for 20% of LULU's overall revenue of $3.3 billion. That means that Lululemon's women's business generated $2.6 billion in 2018 with men delivering $660 million.Here's what is most surprising about Lululemon: it skyrocketed from zero penetration in the men's market to 20% in just six years. Considering it's about one-fifth the size of Nike, it's a very impressive stat.If I owned Nike stock, I'd be concerned that Lululemon will soon generate more revenue from the men's market as a percentage of its overall sales than NKE does from the women's market. How Does Nike Stock Get to $185?Nike has never been very good at acquisitions.It couldn't do much with Bauer in hockey. It hasn't done much with Converse in streetwear, and it failed to do much with Cole Haan in the shoe market.However, there's a first time for everything. If management wants NKE stock to hit $185 by May 2024, they have a quick solution: acquire Lululemon.Once upon a time when Under Armour (NYSE:UA, NYSE:UAA) was in a much stronger position, I suggested that LULU and Under Armour merge to fight Nike.Today, LULU could buy Under Armour, but why would it? It's got growing women's and men's markets, strong digital sales, and increasing business in consumer-friendly Asia.Nike likely wouldn't pull the trigger, given its poor history. But it should set past disappointments aside because Lululemon continues to demonstrate why it's a leader in athletic wear.At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Safe Stocks to Buy for Anxious Investors * 4 Tech Stocks Looking Vulnerable * Should You Buy, Sell, Or Hold These 7 Hot IPO Stocks? Compare Brokers The post Can Nike Stock Hit $185 In the Next Five Years? appeared first on InvestorPlace.

  • CNBC13 hours ago

    The top-performing hedge funds are buying GE, Facebook, Biogen and these other stocks

    Under-the-radar hedge-fund managers beating the market are betting on big comeback stories General Electric and PG&E, as well as Biogen.

  • Investing.com15 hours ago

    General Electric Falls 3%

    Investing.com - General Electric (NYSE:GE) fell by 3.05% to trade at $9.60 by 09:46 (13:46 GMT) on Thursday on the NYSE exchange.

  • Barrons.com15 hours ago

    General Electric’s CEO Gives a Modest Update on Struggles at GE Power

    General Electric CEO Larry Culp gave Wall Street analysts a little more detail about GE’s troubled power business, at a conference in Florida on Wednesday.

  • Chris Davis Trims General Electric, Microsoft Positions
    GuruFocus.comyesterday

    Chris Davis Trims General Electric, Microsoft Positions

    Chris Davis ( Trades , Portfolio ) , portfolio manager of investment management firm Davis Selected Advisers, sold shares of the following stocks during the first quarter. Warning! GuruFocus has detected 4 Warning Signs with GE. The conglomerate, which operates in oil and gas, power and renewable energy, has a market cap of $86.86 billion and an enterprise value of $142.20 billion.

  • GE needs to end infighting, fix quality, tighten management - CEO
    Reutersyesterday

    GE needs to end infighting, fix quality, tighten management - CEO

    The 127-year-old conglomerate, which was a storied CEO training ground under prior chiefs Jack Welch and Jeff Immelt, also needs to simplify its bewildering financial reports and become more frank with investors, Culp said. The unvarnished admissions at the annual Electrical Products Group conference in Florida underscored a cultural shift Culp is attempting since becoming GE's first outsider CEO in October. GE shares were down 0.5% at $9.91 in afternoon trading.

  • GE needs to end infighting, fix quality, tighten management: CEO
    Reutersyesterday

    GE needs to end infighting, fix quality, tighten management: CEO

    The 127-year-old conglomerate, which was a storied CEO training ground under prior chiefs Jack Welch and Jeff Immelt, also needs to simplify its bewildering financial reports and become more frank with investors, Culp said. The unvarnished admissions at the annual Electrical Products Group conference in Florida underscored a cultural shift Culp is attempting since becoming GE's first outsider CEO in October. GE shares were down 0.5% at $9.91 in afternoon trading.

  • Putting General Electric Management Under the Microscope Is Bad News for GE Stock
    SmarterAnalystyesterday

    Putting General Electric Management Under the Microscope Is Bad News for GE Stock

    For many, the comeback of General Electric (GE) isn’t only on its balance sheet, but with management. CEO Larry Culp has made transparency and re-gaining the trust of investors a priority, and the company has taken steps to put this into practice, including the hire of a new investor relations chief and the reorganization of its board. But the company recently had a significant error, after its original reporting of gas turbines orders turned out to be way, way less. Not only does this contribute to financial expectation, but it puts a dark cloud over its reputation. In light of recent development, J.P. Morgan analyst Stephen Tusa maintained his Underweight rating on GE stock with a $5.00 price target, which implies nearly 50% downside from current levels. (To watch Tusa's track record, click here) GE “generated a buzz” last month after announcing it had 4.5 gigawatts (GWs) in gas turbine orders, but this turned out not to be a bust. Tusa believes that the announced 4.5 GWs on 11 [heavy-duty gas turbines, HDGT] orders is “disconnected,” as the “average rating/turbine [would be] at an unreasonably high 400 MWs+...” Instead, the analyst sees about 1 GW “of real tangible externally sold HDGT orders.”This is important for a number of reasons, including showing that GE continues to lose market share. Tusa says, “ongoing market share loss head to head reinforces our view that GE’s technology is not as competitive as in the past, and means that going forward revenues will lag what many expect to be a flat market…” Tusa also believes GE’s communication regarding the numbers was something that should irk Wall Street, as the company disclosed “orders as defined by McCoy in MWs,” rather than units, how it is normally published as. The analyst says, “from a sentiment/investor confidence perspective, we believe this style of communication has an even more negative implication,” as the company continues to try to regain trust. So while this may have been an excusable mistake for some companies, because investors are looking at GE under the microscope, a small cut could have an outsized impact on sentiment going forward. All in all, GE stock is up nearly 36% year-to-date as the company continues to work on restructuring and bringing back focus to its core products. But it is still walking on thin ice, as investors are judging the company just as much for its management as its performance. GE has drawn optimism mixed with caution when it comes to consensus opinion among sell-side analysts. Out of 16 analysts polled by TipRanks in the last 3 months, 7 are bullish on GE, 7 remain sidelined, while 2 are bearish on the stock. With a return potential of 13%, the stock's consensus target price stands at $11.18.  Read more on GE: * J.P. Morgan Still Sees Doom And Gloom in General Electric (GE) Stock; Here’s Why * General Electric (GE) Stock at $14-16 a Share? This Analyst Thinks It’s Possible More recent articles from Smarter Analyst: * Trade Tensions Bring Micron (MU) Stock Down, But Cascend Remains Bullish * Susquehanna Remains Bullish on Qualcomm (QCOM) Stock as the Roller Coaster Ride Continues * Trump's Trade War Hits U.S. Tech Companies from California to North Carolina * Trade Tensions Bring Down Micron (MU) Stock, But Cascend Is Still Bullish

  • Barrons.comyesterday

    GE Talks With Analysts Today. Past Meetings Have Brought Fireworks.

    General Electric CEO Larry Culp meets with analysts at the Electrical Products Group Conference in Florida on Wednesday.

  • GuruFocus.com2 days ago

    Stanley Druckenmiller Boosts Tech Stocks in 1st-Quarter Buying Spree

    Legendary investor's top 5 buys

  • C by GE Full Color Solutions, Smart Switches & Smart Plugs Now Available
    Business Wire2 days ago

    C by GE Full Color Solutions, Smart Switches & Smart Plugs Now Available

    First announced at CES, GE Lighting’s new C by GE Full Color Lights, Tunable White bulbs, Smart Switches, and a Smart Plug are now available to help consumers do more at home. All customizable to routines and compatible with the leading voice assistants, these products carry industry-first features and/or partnerships to drive new opportunities across the home.

  • Honesty Is A Good Start But Not Enough To Boost General Electric Stock
    InvestorPlace3 days ago

    Honesty Is A Good Start But Not Enough To Boost General Electric Stock

    Give credit where credit is due. The new leaders of General Electric (NYSE:GE), most notably CEO Larry Culp, have pledged to be more transparent with investors. That honesty already has boosted GE stock, which has gained some 40% so far this year.Source: Shutterstock As bearish as I've been on GE, the optimism makes some sense. Culp worked wonders at Danaher (NYSE:DHR). GE has some valuable assets. Its problem areas -- notably Power and GE Capital -- have weighed on the stock in part because the bad news never seemed to end. As I wrote a little more than two years ago, GE clearly lost investors' trust. In the interim, Culp, CFO Jamie Miller, and other executives have made regaining that trust a priority.The problem -- as General Electric stock climbed above $10 yesterday before falling back -- is that GE is being honest about real problems with the business at the moment. Meanwhile, GE stock might seem "cheap" given its long fall from $30+, but it still has a market capitalization of $86 billion -- and a larger amount of debt and pension expense.InvestorPlace - Stock Market News, Stock Advice & Trading TipsCulp and Miller have time to fix General Electric and they well might succeed. But there's a long way to go and still some success priced in at $10. GE Gets HonestIt's an interesting argument as to whether management's increased transparency has helped GE stock. Certainly, there have been short-term relief rallies, starting with the 7% pop that came when Culp was named CEO at the beginning of October. In late January, GE missed estimates in fourth quarter earnings -- and the stock still soared after Culp projected improvement in the struggling Power business, albeit not until 2020. Meanwhile, 2019 guidance in March similarly disappointed, and yet GE stock rose again, with Culp calling 2019 a "reset year." * 10 Retirement Stocks That Won't Wilt in a Bear Market When Culp talks, investors cheer. And he literally has put his money where his mouth is, buying more than $2 million in GE stock last year. He's also laid out a strategy for GE to be slimmer, more nimble and more financially solid. The dividend was cut again, saving cash flow to pay down debt, and assets are up for sale to drive further deleveraging. Importantly, GE has been crystal-clear in detailing those strategies.The latest example of that came last Wednesday. JPMorgan Chase (NYSE:JPM) analyst Stephen Tusa long has been bearish -- and right -- on General Electric stock. In a note released Wednesday morning, Tusa said the company still was managing the headlines in its Power business, seemingly highlighting a big order number cited by Reuters on Tuesday, a report which Tusa said overstated the early success of the turnaround in Power.It hardly seems a coincidence that hours later, CFO Miller told a conference that the company still expected "significantly negative" free cash flow from Power this year, and that Q1 orders didn't signify a change in trend. Indeed, it looks like GE management wants not even the appearance of trying to obscure the real problems facing Power -- and the business as a whole. Will It Help GE Stock?It's a worthwhile strategy. But it's also worth noting that for all the optimism so far, it hasn't actually worked. General Electric stock is down almost 9% from where it traded the day before Culp's hiring was announced. The YTD rally seems due at least in part to the recovering broad market -- and many of the short-term bumps driven by management commentary have soon fizzled.Meanwhile, GE is being honest but it's important to listen to what management actually is saying. Miller said Wednesday that margins in Power won't recover for at least three years. Culp said in March that free cash flow outside GE Capital would be negative this year.The sale of GE Biopharma to Danaher for $21.4 billion will help the balance sheet. But it also sends a key earning asset out the door, and -- again, according to management -- limits the likelihood of a spin-off of GE Healthcare. Even with GE Capital, which has driven several multi-billion dollar charges in recent years, Culp hasn't made any promises that all the problems are solved. General Electric Stock Has a Long Road AheadThe transparency coming from GE is welcome … and a long time coming. Shareholders and potential investors deserve to know what they're getting into. Perhaps more importantly, a turnaround -- for GE or for any other company -- can't happen until or unless management truly understands what needs to be fixed. * 7 Stocks to Buy that Lost 10% Last Week But the problems here are real. GE stock hasn't collapsed because of negative coverage from Tusa, or pressure from short sellers, or just because former CEOs Jeff Immelt and John Flannery weren't paying attention. The power industry on the whole is shrinking. GE Capital took risks similar to those that hurt big banks like Bank of America (NYSE:BAC) and Citigroup (NYSE:C) last decade; it simply took this long for some of the costs to come to light.So while it's worth appreciating the newfound honesty at GE, it's also worth listening to that honesty. Cash flow is negative. Power is years away from improving while the market for gas-powered turbines may continue to shrink. (Admittedly, some observers see growth.) GE Capital may still have some issues to iron out.Aviation, Renewable Energy, and Healthcare have value but I argued a year ago that even with that strength, the fair value of GE stock looked to be about $9-$11 per share. Honesty is helpful, but it doesn't change that core problem.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 High-Yield REITs to Buy (Even When the Market Tanks) * 5 Great Blue-Chip Stocks to Buy Today * 7 Tech Stocks to Buy That Are Also Perfect for Retirement Compare Brokers The post Honesty Is A Good Start But Not Enough To Boost General Electric Stock appeared first on InvestorPlace.

  • P&G sells piece of Gillette campus for reported $218M
    American City Business Journals3 days ago

    P&G sells piece of Gillette campus for reported $218M

    Procter & Gamble has completed the sale of 6.5 acres of its Gillette campus in South Boston, reportedly for $218 million.

  • Power Plant Woes Could Stall the GE Stock Comeback
    InvestorPlace3 days ago

    Power Plant Woes Could Stall the GE Stock Comeback

    Over the past year, General Electric (NYSE:GE) stock has endured its share of controversy. Once one of the most iconic U.S. companies, General Electric was booted from the Dow Jones Industrial Average last June, marking the first time in more than a century that GE stock was not a member of the blue-chip index.Source: Shutterstock Then, last October, in a move aimed at further shoring up the company's balance sheet and reducing costs, General Electric cut its dividend for the second time in 2018. Once a dependable dividend name, General Electric stock now has a paltry quarterly dividend of a penny per share.There are times when companies ensconced in controversy rebound. General Electric stock, while not anywhere close to being all the way back, is rebounding in epic fashion in 2019 with a year-to-date gain of 41%. That is good news, but the resurgence in General Electric stock this year does not mean all the controversy is behind the embattled company.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 High-Yield REITs to Buy (Even When the Market Tanks) Earlier this week, General Electric tempered enthusiasm regarding a recovery in its power-plant business, prompting at least one analyst to speculate the company is not being entirely transparent about the goings on at that unit."On Wednesday, GE said its power unit will need at least three years to halt its cash hemorrhage and restore its prior cash flow to double-digit cash margins," reports Reuters. "GE has said it expects to lose up to $2 billion in cash this year, mostly due to the power unit." Skepticism and GE StockIn a note out Wednesday, JPMorgan analyst Steve Tusa displayed skepticism about GE's ability to quickly turnaround the power-plant business while noting the company appears more committed to managing headline risk rather than improving the power-plant business."We see nothing here to change our negative view on Power, more so evidence of a company that appears to manage to headlines rather than on-the-ground fundamentals," said Tusa in a note to clients.The analyst is a noted GE bear. Last month, Tusa lowered his rating on General Electric stock to Underweight from Neutral while lowering his price target on the shares to $5 from $6. That is well below the average analyst price target of $12.76. GE stock traded just over $10 as of this writing.While there are reasons to be concerned with GE's power-plant business. Data from the company indicates the business is notching some growth. In the first quarter, GE's power-plant business booked six orders for the HA-class turbines, up from zero a year earlier. That means GE landed more orders than rivals Mitsubishi Hitachi Power Systems and Siemens AG.On the other hand, there are potential long-term risks in the gas-powered turbine business for any company with exposure to this industry because prices for alternative energy are declining, making cheaper and cleaner solar and wind more attractive to utility providers. The Bottom Line on GE StockThe power-plant unit is not the only potential risk to General Electric stock. GE's effort to sell its biopharma business to rival conglomerate Danaher Corp. (NYSE:DHR) is in jeopardy and that is significant because GE is expecting to land $20 billion in much needed cash for that sale.Weakness in the life sciences market could see the deal price trimmed or scrapped altogether, according to one analyst.Much of GE's efforts to bolster its balance sheet revolve around asset sales, so if the sale to Danaher fails, GE probably spins off the life sciences unit via an initial public offering.With General Electric stock up 41% this, controversy surrounding the power plant and no guarantees on asset sales, a case can be made that a lot of good news is already baked into the shares and near-term upside from current levels could be limited.Todd Shriber does not own any of the aforementioned securities. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 High-Yield REITs to Buy (Even When the Market Tanks) * 5 Great Blue-Chip Stocks to Buy Today * 7 Tech Stocks to Buy That Are Also Perfect for Retirement Compare Brokers The post Power Plant Woes Could Stall the GE Stock Comeback appeared first on InvestorPlace.

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