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GE

General Electric

$17.66

-0.1 (-0.56%)

06:09
12/07/17
12/07
06:09
12/07/17
06:09

GE plans to cut GE Power unit workforce by about 18%, Bloomberg reports

Bloomberg reports that GE is planning 12,000 job cuts in an overhaul of its Power unit.

GE General Electric
$17.66

-0.1 (-0.56%)

11/14/17
11/14/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. General Electric (GE) downgraded to Sector Perform from Outperform at RBC Capital with analyst Deane Dray saying that he now expects the turnaround at the company to be more protracted than previously anticipated, noting the roadmap laid out by new CEO John Flannery fell short of expectations regarding the scope of the business model/portfolio changes. 2. Phillips 66 (PSX) downgraded to Underweight from Equal Weight at Barclays analyst Paul Cheng saying the company's diversified business model will likely drive underperformance in a strong margin uptrend environment for U.S. refiners. 3. Hilton (HLT) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Stephen Grambling citing the recent outperformance of the stock for the rating change, but he expects consistent double-digit earnings growth on low single-digit RevPAR. 4. PulteGroup (PHM) downgraded to Neutral from Buy at Buckingham with the firm citing recent share strength and raised its price target to $33 from $31. 5. Albemarle (ALB) downgraded to Hold from Buy at Deutsche Bank with analyst David Begleiter downgraded Albemarle (ALB) to Hold from Buy while raising his price target for the shares to $150 from $130. Following a field trip to China, Begleiter believes new lithium processing capacity is coming, which should begin to pressure prices by 2019. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/14/17
COWN
11/14/17
NO CHANGE
COWN
Market Perform
Woodward may have negative read through from GE Power guidance, says Cowen
Cowen analyst Guatam Khanna noted that General Electric (GE) has reduced its outlook for its Power segment and said it will seek to pare back delivery of gas turbine part orders that have already been placed. All of this may add pressure to Woodward's (WWD) FY18 industrial segment guidance, said Khanna, who has a Market Perform rating on Woodward shares.
11/21/17
DBAB
11/21/17
NO CHANGE
Target $15
DBAB
Sell
Deutsche Bank cuts target on Sell-rated GE to Street-low $15
Deutsche Bank analyst John Inch believes General Electric should trade at a valuation discount given its "still aggressive" accounting, cash flow and debt pressures, and the potential for additional lawsuits. The analyst remains surprised by management's "upbeat tone/pitch." GE continues to call 2018 a "reset" and "trough" year even though billions of dollars of cost savings are expected to flow into numbers next year from downsizing and other restructuring actions, Inch tells investors in a research note. These costs are no longer going to run through the presentation of earnings as GE adopts a "more aggressive adjusted earnings" presentation framework, the analyst adds. He feels GE has been asserting the strength of its portfolio excluding Power, while pointing to cash flow and profit upside, "despite the recent collapse in both financial measures." The analyst cut his price target for the shares to $15 from $18 and reiterates a Sell rating on General Electric. The price target represents the lowest among those published by Wall Street sell-side analysts. The stock closed yesterday at $17.98.
11/28/17
DBAB
11/28/17
NO CHANGE
Target $171
DBAB
Buy
Honeywell price target raised to $171 from $154 at Deutsche Bank
Deutsche Bank analyst John Inch raised his price target for Honeywell (HON) to $171 following recent meetings with management. The shares closed yesterday up 77c to $150.43. The target represents a 20 times forward multiple to the analyst's 2019 earnings forecast. Inch continues to believe Honeywell could become the "next multi-industry investment leader" over the coming decade as General Electric (GE) "further retrenches to preserve cash." Honeywell can pivot towards faster growth with a balance sheet that allows for billions in future growth investments, the analyst tells investors in a research note. He keeps a Buy rating on the shares.

TODAY'S FREE FLY STORIES

PCG

PG&E

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UGAZ

VelocityShares 3x Long Natural Gas ETN

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RYB

RYB Education

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SWCH

Switch

$7.98

0.91 (12.87%)

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SFS

Smart & Final Stores

$6.45

1.49 (30.04%)

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DGAZ

VelocityShares 3x Inv Natural Gas ETN

$4.22

1.35 (47.04%)

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MO

Altria Group

$58.47

-0.62 (-1.05%)

, PM

Philip Morris

$85.34

-0.17 (-0.20%)

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Altria Group issues statement on FDA proposed new steps against underage smoking »

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MO

Altria Group

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-0.62 (-1.05%)

PM

Philip Morris

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-0.17 (-0.20%)

BTI

British American Tobacco

$35.69

-0.82 (-2.25%)

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TDW

Tidewater

$24.98

0.49 (2.00%)

, GLF

GulfMark Offshore

$27.62

0.75 (2.79%)

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Tidewater announces completion of business combination with GulfMark »

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TDW

Tidewater

$24.98

0.49 (2.00%)

GLF

GulfMark Offshore

$27.62

0.75 (2.79%)

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HSBC

HSBC

$41.91

0.15 (0.36%)

11:55
11/15/18
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Options
HSBC put volume heavy and directionally bearish »

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11:55
11/15/18
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11:55
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Conference/Events
RBC Capital telecom/data centers analyst to hold a group luncheon »

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QLYS

Qualys

$72.81

0.89 (1.24%)

11:55
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Conference/Events
Qualys to hold analyst and investor day »

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Conference/Events
RBC Capital U.S. Internet analyst to hold a group luncheon »

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PRSP

Perspecta

$21.53

-0.8 (-3.58%)

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Perspecta in partnership with Abaco Systems for 1553 Bus Defender product »

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CB

Chubb

$128.87

2.18 (1.72%)

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Chubb board authorizes $1.5B share repurchase program »

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COG

Cabot Oil & Gas

$25.55

-0.28 (-1.08%)

11:45
11/15/18
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Options
Cabot Oil & Gas call volume above normal and directionally bullish »

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General news
U.S. blue chips remain under pressure »

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PM

Philip Morris

$84.99

-0.52 (-0.61%)

, BTI

British American Tobacco

$35.46

-1.05 (-2.88%)

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FDA proposes steps to prevent flavored tobacco access, ban menthol cigarettes »

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PM

Philip Morris

$84.99

-0.52 (-0.61%)

BTI

British American Tobacco

$35.46

-1.05 (-2.88%)

MO

Altria Group

$58.38

-0.71 (-1.20%)

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MDR

McDermott

$8.25

0.36 (4.56%)

11:35
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Options
McDermott put volume heavy and directionally bearish »

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LXFT

Luxoft

$35.44

-3.3 (-8.52%)

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Downgrade
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TDY

Teledyne

$221.27

1.165 (0.53%)

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11:30
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Conference/Events
Leerink healthcare analysts to hold an analyst/industry conference call »

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MDU

MDU Resources

$25.86

-0.265 (-1.01%)

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MDU Resources increases quarterly dividend »

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GS

Goldman Sachs

$199.90

-2.53 (-1.25%)

11:29
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Periodicals
Goldman Sachs CEO 'outraged' by 1MDB scandal, Bloomberg reports »

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XPO

XPO Logistics

$78.25

-0.65 (-0.82%)

11:25
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Options
XPO Logistics call volume above normal and directionally bullish »

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BHVN

Biohaven Pharmaceutical

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-1.2 (-3.56%)

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Conference/Events
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  • 15

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