10ye 1 10year yield highest since july the gop does move closer to tax reform what does that mean for investors . Ge is down sharply after a wider than expected Third Quarter miss slashing the full year guidance, revenue did meet estimates in the release John Flannery said this was a very challenging quarter. While a majority of our businesses had Solid Earnings performance this was offset by the decline in power performance in a difficult market. Stay tune for david aegs exclusive with flannery. Talking with squawk about this what are your thoughts is this below 22 yeah, i actually confronted jim immelt with many of these particular issues in my last interview with him and he was very much in denial these things would occur. I point that out because today is flannerys day. This is not a report card on flannery it is a statement that says heres all the things weve done wrong. I think they did very ill advised accounting in turbines and the key phrase here is that ge capital might have
Alley. Im john fortt here at post 9 with michelle carusocabrera, mike santoli, carl quintanilla, and sara eisen have the morning off. General electric, meanwhile, slashing its dividend in half. The first cut since the financial crisis, and its shaking up its core business shares sliding right now down more than 4. 5 Morgan Brennan is at ges investor day in midtown manhattan and joins us now ge cutting its dividend by 50 in what is from a dollars and cents perspective the biggest reduction ever by a company excludeing the financial crisis, but the street expected that thats not why shares are falling right now. Why shares are falling, because of the guidance, so new 2018 eps forecasts, a dollar to 1. 07 per share, Free Cash Flow 6 to 7 billion, also disappointing, lower guidance and as one analyst just pointed out to me, the 6 billion in Pension Funding next year is excluded from the disappointing eps forecast meaning, the numbers may be worse than the optics are suggesting so one key d
The shanghai up by half a percentage point in europe in some of the early trading right now we are seeing things a little bit mixed across the board. Ftses hanging in there up by. 10 of a percent. They are seeing pull backs by the dax down and the cac off by 1 3 of a percentage oint. Crude oil prices on a climb again last week where oil was up by just over 1. 10 this morning wti back 1 cent i take that back, its unchanged at 56. 74 lets tell you whats going on couple stories were watching this morning couple big ones. General electric is going to announce a major restructuring is going to happen today ge will focus on three or four units, aviation, power, health care ge is planning to shed its majority stake in oil and gas operator baker hughes. Remember that big bet that shedding . Shedding. Shedding. Like skin. John flannery expected to announce the changes at a meeting. Theyre getting out of it he got into it, now hes getting out of it. You build it up and you take it down were goin
Taylor Financial Group Inc. bought a new stake in General Electric (NYSE:GE – Free Report) during the 4th quarter, HoldingsChannel reports. The firm bought 4,548 shares of the conglomerate’s stock, valued at approximately $580,000. Several other hedge funds and other institutional investors have also bought and sold shares of GE. Great Valley Advisor Group Inc. […]
Fullerton Fund Management Co Ltd. bought a new position in General Electric (NYSE:GE – Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 415,394 shares of the conglomerate’s stock, valued at approximately $53,017,000. General Electric makes up about 3.1% of Fullerton […]