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The outlook for oil and gas and the BHI merger is key for mine especially with oil and gas prices at this time.
I’m watching for the current $321 billion backlog orders (10 quarters of future revenue) because it represents demand for GE’s products and services.
Keep an eye on locomotive shipments
While the transportation sector is GE’s smallest, if locomotive shipments and orders (the latter is expected to be zero) are surprise to the upside, the share price will pop.As goeth the transports…
General Electric (NYSE:$GE): Q2 EPS of $0.28 beats by $0.03.
Revenue of $29.56B (-11.7% Y/Y) beats by $540M[quote=”Assistanc3″ post=160]General Electric (NYSE:$GE): Q2 EPS of $0.28 beats by $0.03.
Revenue of $29.56B (-11.7% Y/Y) beats by $540M[/quote]General Electric Company NYSE: GE – Jul 21, 8:30 AM EDT Pre-market: 26.45 -0.24 (- 0.90%)
Market sees nothing to excite
In 2Q17 posted net earnings that more-than-halved to $1.19Bil, or $0.13 per share. On a non-GAAP basis, EPS declined 45% to $0.28 during the quarter.
Energy Connections Weak
$GE’s total revenue in 2Q17 fell 12% to $29.6Bil due to weakness in its Energy Connections segment, which supplies automation products to various industries including marine, mining and oil & gas. Revenue from this segment fell 27% during the quarter.Backlogs
Primarily due to $GE’s shift of focus into industrial operations, its backlog in 2Q17 grew 2% to $327Bil, while orders increased 6% to $28.3Bil. $GE has a history of orders and backlogs growing faster than its revenue.GE CEO Jeff Immelt said, “We expect cash flow to continue to improve throughout the year. We’ve reduced our industrial structural costs year-to-date by $670MM and we are on track to meet or exceed our $1Bil cost reduction target for the year.”
$GE is 3.25% from its 52W Low
lots of support at $25 and has a Dividend % 3.60%
vs
U.S. 10 Year Treasury Note yield 2.24%$GE shares -4.6 percent to $25.47 at 9:42 a.m. in New York after dropping as much as 5.4 percent for the biggest intraday decline since Aug. 2015.
GE fell 16 percent this year through Thursday, while the Standard & Poor’s 500 Index climbed 10 percent.
[quote=”Helmholtz Watson” post=157]The outlook for oil and gas and the BHI merger is key for mine especially with oil and gas prices at this time.[/quote]
“The resource markets remain challenging, pressure in power and oil and gas.” Immelt said on a conference call with analysts.
Have to GE is a sour reflection of the ‘real’ US economy hidden behind the hype of a Tesla or worship at the seat of AMZN
General Electric $GE has continued lower still after earnings. Down another 2.2% week over week and the worse of the 30 Dow stocks. with the the Dow Jones Industrial Average flirting with 22,000 $GE set a new 52-week low on Friday and are now down 20.25% year to date.
The company second worst stock is International Business Machines Corp. $IBM which is down 14.55% for the year, and the third-worst stock Exxon Mobil Corp. $XOM down 13.35%.
GE’s shares closed down 0.4% Frida, at $25.20 in a 52-week range of $25.19 to $32.38.
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