14.11 +0.06 (0.43%)
After hours: 7:43PM EDT
|Bid||14.10 x 900|
|Ask||14.11 x 400|
|Day's range||13.91 - 14.73|
|52-week range||12.73 - 29.55|
|PE ratio (TTM)||N/A|
|Earnings date||19 Jul 2018 - 23 Jul 2018|
|Forward dividend & yield||0.48 (3.70%)|
|1y target est||17.40|
Shareholders at General Electric Co. approved KPMG LLP on Wednesday as the company’s auditor for another year, but only after a large level of opposition in the wake of GE’s accounting issues and criticism from proxy-advisory firms. Only 64.9% of GE shareholders voted to ratify KPMG as GE’s auditor, according to preliminary figures released at GE’s annual meeting.
GE shareholders gathered Wednesday at a company facility here and elected a smaller, revamped board after a difficult year at the industrial conglomerate. Several investors stood up to voice their concerns about the company’s direction and leadership. “2017 has been immensely disappointing to those of us on the board, the GE leadership team, employees across the business,” said Mr. Flannery, a company veteran who took the reins in August and is working to turn around the maker of everything from jet engines to lightbulbs.
General Electric CO employees and shareholders voiced frustration on Wednesday with the company's poor performance, while attending the first annual meeting under Chief Executive Officer John Flannery, who has presided over a 43 percent decline in GE's stock price since taking over on Aug. 1. Several dozen union workers from GE factories in Pennsylvania, Canada and elsewhere protested outside a GE facility here, where about 450 shareholders gathered.
Danaher recently expressed interest in a deal for GE’s life- sciences business, but GE didn’t engage and isn’t interested in a deal.
GE was hit with yet another blow just in time for investors to vent their fury over the company's performance at the firm's annual shareholder meeting Wednesday.
General Electric’s (GE) overall revenues stood at $28.6 billion in 1Q18, exceeding Wall Street’s estimate of $27.4 billion by 4.4%. On a YoY (year-over-year) basis, GE’s revenues in 1Q18 were up 3.6% from $27.6 billion in 1Q17.
Facebook Inc. reported top and bottom line results late Wednesday that beat Wall Street analyst estimates, even amid the company public relations struggle following revelations of improperly handled data ...
In the latest blow to beleaguered blue chip General Electric Co., Moody’s Investors Service on Wednesday revised its outlook on the company’s ratings to negative, meaning it could downgrade it in the medium term. The move “reflects the added headwinds to restoring GE’s credit profile as a result of the $1.5 billion reserve that GE recorded in relation to the investigation by the Department of Justice of possible violations of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (”FIRREA”) by WMC, GE Capital’s discontinued mortgage business,” the rating agency said in a note. Read now: Are you smart or foolish to buy GE stock right now?
Key market index funds were down across the board as General Electric weighed on the Dow but Boeing soared on its earnings report.
Just over six months ago, Standard & Poor's put General Electric (GE) on watch for a possible rating downgrade. Today, Moody's followed suit by lowering its outlook on GE's bond rating to Negative. It appears that the straw that broke this camel's back was the $1.5 billion that GE had to set aside to cover fines from its pre-financial-crisis mortgage lender WMC.
General Electric (GE) released its 1Q18 earnings on April 20. On an adjusted basis, the company’s earnings per share (or EPS) came in at $0.16, up 14.0% YoY (year-over-year) from the restated $0.14 in 1Q17. GE surpassed Thomson Reuters–surveyed analysts’ adjusted EPS target of $0.11 by a whopping 41.3%.
Electrolux also delayed a $250 million US expansion after Donald Trump proposed the tariffs. Alcoa (AA) and Century Aluminum (CENX) rallied sharply as aluminum rose to multiyear highs. Century Aluminum had announced a plant restart after Trump slapped tariffs on aluminum imports in March.
GE Aviation hosted the U.S. Army for the successful Preliminary Design Review of the T901-GE-900 engine in early March. The T901 is GE Aviation’s engine for the Improved Turbine Engine Program , the U.S.
Hermes Investment Management’s push for fair living wages of all workers at the companies it invests in gets as much play in a promotional video as the fact that all of its strategies have outperformed their respective benchmarks over the past five years. Hermes, which manages $44.6 billion in assets, emphasizes environmental, social, and governance (ESG) investing, leading to its motto, “Outcomes Beyond Performance.” Surely, though, Hermes’ prowess at making money has led Federated Investors (FII) to agree to buy a 60% stake in it from BTPS for $350 million two weeks ago. Hermes disclosed in an April 17 regulatory filing that it completely exited its position in General Electric (GE) in the first quarter.
KPMG’s continued role as auditors at General Electric has been backed at its annual meeting by investors with 64.9 per cent of the shares voted, an unusually low level of support in a decision that is usually a formality. The shareholder advisory services ISS and Glass Lewis had both recommended that investors vote against the reappointment of KPMG, which along with its predecessor firms has audited GE since 1909. The advisers highlighted concerns over the Securities and Exchange Commission’s investigation of GE over its revenue recognition on long-term contracts, and over legacy insurance liabilities from businesses that it exited in 2006.
United Technologies reported better-than-expected Q1 earnings and raised full-year guidance, after GE and Honeywell handily beat estimates on aviation gains.
Revenue growth was driven by organic growth of 2.8%, an acquisition after adjusting to divestitures contributed 0.7%, and favorable foreign currency helped 4.2%. 3M reported adjusted earnings per share of $2.50, which is more or less on the expected lines of the range between $2.50 and $2.51. Plus, as the company reported earlier, 3M settled a lawsuit with the State of Minnesota for $897 million that translates into $1.16 per share.
Honeywell International’s (HON) SPS (Safety and Productivity Solutions) segment is its smallest revenue contributor, accounting for 13.9% of its total revenue in 1Q17 and 1Q18. SPS revenue rose ~9.4% YoY (year-over-year) to $1.5 billion in 1Q18 from $1.3 billion.
Honeywell International’s (HON) PMT (Performance Materials and Technologies) segment accounted for 24.4% of its total revenue in 1Q18, compared with 24.8% in 1Q17, representing a difference of 0.40 percentage points YoY (year-over-year). Between 1Q17 and 1Q18, PMT’s revenue rose 7.7%, from $2.4 billion to $2.5 billion.
MOORESVILLE, N.C., April 24, 2018 /PRNewswire/ -- To further enhance the customer experience, Lowe's Companies, Inc. (LOW) and GE (GE) announced today an expanded partnership to help customers easily find the right light bulb for their home while also saving energy and money. As a part of this expanded partnership, Lowe's will become the only nationwide home center to offer industry-leading GE light bulbs. Additionally, GE Lighting will become the only nationwide supplier to Lowe's U.S. consumer retail outlets for light bulbs, including GE's popular, proprietary light bulb line, reveal®.
Apr.25 -- Moody’s Investors Service Inc. just provided an important reality check to General Electric Co. The lowered credit-rating outlook came as GE hosted its annual shareholder meeting in Imperial, Pennsylvania. Bloomberg Gadfly's Brooke Sutherland has more on "Bloomberg Markets." Her opinions are her own.