UBS analyst says GE 'most vaccine-levered stock' in coverage » 07:1406/2406/24/21
UBS analyst Markus…
UBS analyst Markus Mittermaier says General Electric is the "most vaccine-levered stock" in his coverage. He expects the company's Aviation unit's free cash flow to exceed 2019 levels by 2023 as the aftermarket recovers, driven by a catch up in the CFM56 platform and a "strong ramp in LEAP cash contribution." The analyst reiterates a Buy rating on the shares with a $17 price target, noting that Aviation a key driver of his 22% above consensus 2023 free cash flow forecast.
General Electric call volume above normal and directionally bullish » 11:0506/1806/18/21
Bullish option flow…
Bullish option flow detected in General Electric with 117,273 calls trading, 2.0x expected, and implied vol increasing over 2 points to 31.69%. Jul-21 16 calls and Jul-21 15 calls are the most active options, with total volume in those strikes near 52,900 contracts. The Put/Call Ratio is 0.19. Earnings are expected on July 27th.
GE to proceed with 1-for-8 reverse stock split on July 30 close » 08:3506/1806/18/21
General Electric announced that it will proceed with the 1-for-8 reverse stock split previously approved by shareholders at the annual meeting of shareholders on May 4. GE plans to file an amendment to its certificate of incorporation to effectuate the reverse stock split after the close of trading on July 30, and GE common stock will begin trading on a split-adjusted basis on August 2. The move will reduce the number of outstanding shares of GE common stock from approximately 8.8B to approximately 1.1B.
|Over a week ago|
GE Aviation, Safran launch program to reduce engine CO2 emissions » 10:3506/1406/14/21
GE Aviation (GE) and…
GE Aviation (GE) and Safran (SAFRY) launched a technology development program targeting more than 20% lower fuel consumption and CO2 emissions compared to today's engines. The "CFM RISE (Revolutionary Innovation for Sustainable Engines) program will demonstrate and mature a range of new, disruptive technologies for future engines that could enter service by the mid-2030s," the companies said in a statement. GE Aviation and Safran also signed an agreement extending the CFM International 50/50 partnership to the year 2050, "declaring their intent to lead the way for more sustainable aviation in line with the industry's commitment to halve CO2 emissions by 2050."
GE's renewables unit, LafargeHolcim team on wind turbine recycling, CNBC says » 08:4706/1106/11/21
General Electric's renewables unit and LafargeHolcim, the world's largest cement manufacturer, have partnered to explore the recycling of wind turbine blades, CNBC's Anmar Frangoul reports. A memorandum of understanding will see the companies focus on exploring "circular economy solutions." Reference Link
UBS to hold a virtual conference » 11:3006/0906/09/21
ATS, ARVL, CMI, APG, PLUG, FSTR, INVX, AZZ, GE, GMS, KLAC, VCVC, TRTN, VLDR, MYRG, TRN, OUST, NWHM, CWST, ROAD, CPS, GLOP, GLOG, DAL, GLDD, HEI, CMS, GNRS, DCO
Global Industrials and…
Global Industrials and Transportation Virtual Conference will be held on June 8-9.
SPX Corporation selling SPX Transformer Solutions to GE-Prolec Transformers » 06:0406/0906/09/21
SPX Corporation (SPXC)…
SPX Corporation (SPXC) has entered into a binding agreement to sell 100% of the issued and outstanding stock of its wholly-owned subsidiary, SPX Transformer Solutions, to GE-Prolec Transformers, a subsidiary of a joint venture between GE (GE) and Xignux S.A. for a cash purchase price of $645M. SPX anticipates that after taxes on a gain from the sale, net proceeds will be approximately $540M. The purchase price is subject to customary net working capital and similar adjustments at closing. The transaction is anticipated to close during the second half of 2021, subject to the satisfaction of typical closing conditions, including antitrust regulatory review. SPX is updating its 2021 guidance for the anticipated sale of SPX Transformer Solutions. SPX expects to account for the results of SPX Transformer Solutions as discontinued operations when it reports Q2 results in early August. SPX now anticipates FY21 Adjusted EPS of $2.17-$2.37 vs. prior guidance of $3.06-$3.26 and adjusted revenue of $1.25B, vs. prior guidance of $1.7B, and adjusted operating income margin of 11%-12%, consistent with prior guidance.
GE Healthcare sees FY21 revenue up low to mid single digits » 10:1206/0806/08/21
Sees FY22 revenue…
Sees FY22 revenue "growing."
GE Healthcare sees 2021 free cash flow flat to up slightly » 10:1206/0806/08/21
Sees FY22 free cash flow…
Sees FY22 free cash flow flat to up. Comments taken from slides being presented at the Goldman Sachs Healthcare Conference.
GE CEO says DOJ concluded review of deal with AerCap » 11:2206/0406/04/21
General Electric (GE) CEO…
General Electric (GE) CEO Larry Culp said while presenting at the Sanford Bernstein Strategic Decisions Conference that the Department of Justice has concluded the review of the company's deal to merge its jet-leasing unit with AerCap (AER) and that the transaction is expected to close later this year or early next year. Culp said, according to a transcript of the event: "[The] AerCap transaction that I mentioned a moment ago really allows us to put all of our energies, let alone our money, on creating full value from these four leadership franchises. We announced that deal in March. We're excited to see the AerCap shareholders approve the deal recently. We know the DOJ has concluded its review here in the U.S. So closing later this year, early next year, but that positions us to take down over $70 billion of debt over the last several years, so the deleveraging very much on track in that regard. And again, that allows us to put the balance sheet in good order. So we can really pivot and put all of our energies in running these businesses better."