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GE

General Electric

$31.26

0.08 (0.26%)

, HRELY

Haier Electronics

$16.25

0.56 (3.57%)

13:03
11/23/16
11/23
13:03
11/23/16
13:03

GE Appliance employees spurn proposed deal from Haier, WSJ reports

Members of the CWA union voted down a new contract with the former appliance division of General Electric (GE), rejecting an attempt by its new Chinese owners to reduce costs at a massive factory complex in Louisville, Kentucky, the Wall Street Journal reports. The workers voted down the four-year deal against the recommendation of union leadership, the report notes. The pact would have cut wages for new hires at the Appliance Park complex, cut overtime and led to buyouts for as many as 450 workers, the report says. The contract's failure comes just months after GE Appliances was acquired for $5.6B by China's Haier Group (HRELY), the report says. A GE Appliances spokeswoman told the Journal in an emailed statement that the company was "extremely disappointed" by the move. Reference Link

GE

General Electric

$31.26

0.08 (0.26%)

HRELY

Haier Electronics

$16.25

0.56 (3.57%)

  • 29

    Nov

  • 01

    Dec

  • 08

    Dec

GE General Electric
$31.26

0.08 (0.26%)

10/31/16
JEFF
10/31/16
NO CHANGE
Target $48
JEFF
Hold
Baker gets no premium in GE deal without synergies, says Jefferies
Jefferies analyst Brad Handler says his quick valuation suggests that Baker Hughes (BHI) receives no premium in its merger with General Electric (GE) without synergies. The lack of premium isn't surprising as the deal will be "sold" based on cost and revenue synergies, Handler tells investors in a research note. He notes that the cost synergies target of $1.6B by 2020 is a surprise based on Schlumberger's and Cameron's (CAM) target of $500M. Handler has a Hold rating on Baker Hughes with a $48 price target.
11/01/16
COWN
11/01/16
NO CHANGE
Target $65
COWN
Outperform
Baker Hughes has an upside case to $72 per share, says Cowen
Cowen analyst Mark Bianchi said Baker Hughes' (BHI) merger with General Electric's (GE) O&G unit was not what many had hoped for, as it dilutes its exposure to a recovery, adding that investors appear to be unwilling to pay for promised benefits of integration that will take time to be proven. Bianchi said the base case for valuation suggests a $64 price target but if higher synergies are achieved, as were discussed by both parties, upside could be as high as $72 per share. Bianchi maintained his Outperform rating and $65 price target on Baker Hughes shares.
11/01/16
ARGS
11/01/16
NO CHANGE
ARGS
Baker Hughes price target raised to $65 from $56 at Argus
Argus analyst Bill Selesky raised his price target on Baker Hughes (BHI) after the company agreed to combine with GE's (GE) oil and gas unit. The analyst expects the new company to compete more effectively with Halliburton (HAL) and Schlumberger (SLB). He expects Baker Hughes to be boosted by GE's digital technology, and keeps a Buy rating on Baker Hughes.
11/21/16
SUSQ
11/21/16
NO CHANGE
Target $70
SUSQ
Positive
Baker Hughes price target raised to $70 from $64 at Susquehanna
Susquehanna analyst Charles Minervino raised his price target on Baker Hughes (BHI) to $70 from $64 as he believes the share price is still not adequately reflecting the premium paid by General Electric (GE). He believes the assumptions laid out by GE in its presentation to sell the deal were conservative. Minervino reiterated his Positive rating on Baker Hughes shares.
HRELY Haier Electronics
$16.25

0.56 (3.57%)

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1.31 (10.83%)

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PrivateBancorp

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LULU

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$55.37

1.12 (2.06%)

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  • 26

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AYR

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$21.17

0.04 (0.19%)

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NBIX

Neurocrine

$47.35

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