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General Electric Co (GE.N)

GE.N on New York Stock Exchange

14.49USD
23 Feb 2018
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Latest Key Developments (Source: Significant Developments)

GE Expects Market For New Gas Orders In 2018 To Be Less Than 35 Gigawatts
6:06pm EST 

Feb 23 (Reuters) - General Electric Co ::EXPECT OVERALL MARKET FOR NEW GAS ORDERS IN 2018 TO BE LESS THAN 35 GIGAWATTS.EXECUTING RESTRUCTURING EFFORTS IN 2018 TO SUPPORT A MARKET THAT COULD BE AS LOW AS 30 GIGAWATTS NEXT YEAR.EXPECT RESTRUCTURING EFFORTS TO CONTINUE INTO 2019.  Full Article

GE Says Believes DOJ Is "Likely To Assert" That WMC & GE Capital Violated FIRREA
6:06pm EST 

Feb 23 (Reuters) - General Electric Co ::GE SAYS BELIEVES DOJ IS "LIKELY TO ASSERT" THAT WMC & GE CAPITAL VIOLATED FIRREA RELATING TO SUBPRIME MORTGAGE LOANS IN 2006 & 2007.GE SAYS WMC AND GE CAPITAL WILL EXPLORE WHETHER AN ACCEPTABLE SETTLEMENT RELATING TO INVESTIGATION OF SUBPRIME MORTGAGES CAN BE REACHED.GE SAYS IF ACCEPTABLE SETTLEMENT RELATING TO FIRREA INVESTIGATIONS CANNOT BE REACHED, DOJ MAY INITIATE LEGAL PROCEEDINGS AGAINST WMC, GE CAPITAL.GE, ON FIRREA INVESTIGATIONS, SAYS WMC AND GE CAPITAL BELIEVE THEY WOULD HAVE DEFENSES TO ANY LAWSUIT.  Full Article

GE Appoints Michael Holston As General Counsel
10:06am EST 

Feb 23 (Reuters) - General Electric Co ::SAYS MICHAEL HOLSTON NAMED SENIOR VICE PRESIDENT AND GENERAL COUNSEL OF GE‍​.SAYS HOLSTON JOINS GE FROM MERCK.SAYS HOLSTON SUCCEEDS ALEX DIMITRIEF.  Full Article

GE Transportation Lands GE’S Largest Deal In Ukraine
9:00am EST 

Feb 23 (Reuters) - General Electric Co ::GE TRANSPORTATION LANDS GE’S LARGEST DEAL IN UKRAINE.‍GE TRANSPORTATION - SIGNED A $1 BILLION FRAMEWORK AGREEMENT IN UKRAINE​.‍GE TRANSPORTATION - AGREEMENT INCLUDES SUPPLY OF 30 GE EVOLUTION SERIES FREIGHT LOCOMOTIVES TO UKRAINIAN RAILWAYS​.GE TRANSPORTATION - ‍LOCOMOTIVE PRODUCTION IS PLANNED TO COMMENCE IN U.S. IN EARLY 2018, WITH FIRST DELIVERIES SLATED FOR THIS FALL​.GE TRANSPORTATION - AGREEMENT ALSO INCLUDES SUPPLY OF ADDITIONAL LOCOMOTIVE KITS OVER 10 YRS, REHABILITATION OF LOCOMOTIVES IN RAILWAY'S LEGACY FLEET.  Full Article

GE Says Has Come Up With List Of Assets, As Part Of $20 Bln Divestiture Target - Citi Conf
Wednesday, 21 Feb 2018 05:37pm EST 

Feb 21 (Reuters) - General Electric Co ::GE CFO JAMIE MILLER SAYS POWER BUSINESS FEELS ABOUT THE SAME AS CO EXPECTED FOR 2018, MAYBE A LITTLE WORSE, VERSUS CO'S NOVEMBER GUIDANCE - CITI CONF‍​.GE CFO JAMIE MILLER SAYS AVIATION AND HEALTHCARE STILL FEEL VERY GOOD - CITI CONF‍​.GE CFO JAMIE MILLER SAYS WORKING COOPERATIVELY WITH SEC - CITI CONF‍​.GE CFO JAMIE MILLER SAYS STILL SEE 2018 ADJUSTED EPS $1 TO $1.07, BUT TOWARDS THE LOWER END OF THE RANGE - CITI CONF‍​.GE CFO JAMIE MILLER SAYS WHEN CEO JOHN FLANNERY TALKS ABOUT “ALL OPTIONS ARE OPEN”, HE'S THINKING ABOUT THE CAPITAL ALLOCATION PROCESS WHICH CAN HELP UNLOCK VALUE - CITI CONF‍​.GE CFO JAMIE MILLER SAYS "WE'RE EXAMINING EVERYTHING" WHEN IT COMES TO THE CAPITAL ALLOCATION PROCESS - CITI CONF‍​.GE CFO JAMIE MILLER SAYS GE HAS COME UP WITH A LIST OF ASSETS, AS PART OF ITS INITIAL REVIEWS OF THE $20 BILLION DIVESTITURE TARGET IN ONE TO TWO YEARS - CITI CONF‍​.GE CFO SAYS THE ASSETS INCLUDES PRODUCT LINES THAT HAVEN'T BEEN ABLE TO GET TO “ACCEPTABLE MARGINS”, BUSINESSES THAT REQUIRE LOT OF CAPITAL TO GET THEM TO SCALE, AND UNITS WHERE TECHNOLOGY MIGHT HAVE HIT ITS MATURITY CURVE - CITI CONF‍​.GE CFO SAYS HAVE LINE OF SIGHT TO THE FIRST $4 BILLION OF THE TARGETED ASSETS AS PART OF THE DIVESTITURE, BUT IT WILL NOT HAVE ANY IMPACT ON 2018 CASH FLOW; SAYS 2019 FREE CASH FLOW COULD SEE AN IMPACT OF LESS THAN $0.5 BILLION - CITI CONF‍​.  Full Article

GE Agrees To Sell Lighting Business In Europe, Middle East, Africa, Turkey, And Co's Global Automotive Lighting Units
Thursday, 15 Feb 2018 06:14pm EST 

Feb 15 (Reuters) - General Electric Co ::GE - AGREEMENT TO SELL LIGHTING BUSINESS IN EUROPE, MIDDLE EAST, AFRICA, TURKEY, AND CO'S GLOBAL AUTOMOTIVE LIGHTING UNITS, TO ENTITY CONTROLLED BY JOERG BAUER.GE - THE PROPOSED TRANSFER OF THE EMEA AND GLOBAL AUTOMOTIVE LIGHTING BUSINESS IS EXPECTED TO OCCUR IN PHASES THROUGH THE END OF JUNE 2018‍​.  Full Article

GE Reached Deal To Sell Parts Of Overseas Lighting Business To Ex-Executive- WSJ
Thursday, 15 Feb 2018 05:02pm EST 

Feb 15 (Reuters) - :GENERAL ELECTRIC REACHED DEAL TO SELL PARTS OF ITS OVERSEAS LIGHTING BUSINESS TO FORMER EXECUTIVE FOR AN UNDISCLOSED AMOUNT- WSJ.DEAL INCLUDES GE LIGHTING IN EUROPE, MIDDLE EAST, AFRICA AND TURKEY, BUYER IS CO CONTROLLED BY JOERG BAUER- WSJ.  Full Article

Charlie Munger urges regulators to ease up on Wells Fargo, praises Amazon-Berkshire-JPMorgan health care efforts
Wednesday, 14 Feb 2018 03:09pm EST 

Feb 14 (Reuters) - Charlie munger says it is time for regulators to "let up" on wells fargo -- :.  Full Article

GE Says Chief Communications Officer Deirdre Latour To Leave
Wednesday, 14 Feb 2018 09:52am EST 

Feb 14 (Reuters) - General Electric Co ::GE SAYS CHIEF COMMUNICATIONS OFFICER AND SENIOR ADVISOR, DEIRDRE LATOUR, TO LEAVE CO‍​.GE SAYS LINDA BOFF, CMO AND CHIEF LEARNING OFFICER, NAMED INTERIM HEAD OF COMMUNICATIONS‍​.  Full Article

GE Hitachi, Holtec Announce Deal To Accelerate Commercialization of SMR-160
Wednesday, 14 Feb 2018 08:45am EST 

Feb 14 (Reuters) - GE Hitachi Nuclear Energy::GE HITACHI AND HOLTEC ANNOUNCE COOPERATION TO ACCELERATE COMMERCIALIZATION OF SMR-160 SMALL MODULAR REACTOR.GE HITACHI NUCLEAR ENERGY - COS TO ENTER INTO PROCOMPETITIVE COLLABORATION TO PROGRESS SMR-160 WHICH SMR LLC INTENDS TO DEVELOP, LICENSE GLOBALLY.GE HITACHI NUCLEAR ENERGY - COOPERATION TO INITIALLY INCLUDE NUCLEAR FUEL DEVELOPMENT SUPPORTED BY GNF, CONTROL ROD DRIVE MECHANISMS DESIGNED BY CO.  Full Article

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GE says it may face U.S. action over subprime mortgage operations

NEW YORK General Electric Co faces potential legal action by the U.S. Department of Justice over allegations that its GE Capital unit and now-defunct WMC Mortgage Corp unit violated U.S. law in connection with subprime mortgages, according to a regulatory filing on Friday.