General Electric Second Quarter results beat EPS and revenue expectations. GE’s Aerospace segment saw 26% order growth which led to the company’s largest EPS beat in over five years and helped it to generate positive free cash flow of $200 million. GE is still forecasting growth of more than 20% and operating profit of $3.8-$4.3 bln for GE Aerospace. GE is on track to create three independent companies: GE Aerospace, GE HealthCare, and GE Vernova, GE’s portfolio of energy businesses. … Continue reading “General Electric Earnings Higher Driven by Aerospace Segment”
Industrial production slowed in May with manufacturing the culprit. Total industrial production rose 0.2% month-over-month in May lower than the consensus 0.5% following an upwardly revised 1.4% increase (from 1.1%) in April. The capacity utilization rate increased to 79.0% again missing the consensus 79.3% from a downwardly revised 78.9% (from 79.0%) in April. US May Industrial Production Highlights Manufacturing output decreased 0.1% after increasing 0.8% in April. Motor vehicle assemblies increased 2.0% month-over-month to a seasonally adjusted annual rate of … Continue reading “US Industrial Production in May Slows with Manufacturing Falling”
With energy prices skyrocketing coupled with China’s clean energy transition strategy to lower emissions Zhejiang province authorities ordered around 160 energy-intensive companies to temporarily halt production.
The Chinese economy rose 18.3% yoy in the first quarter, though lower than the market consensus of 19%. China’s growth accelerated from 6.5% growth in Q4 . This was the strongest pace of expansion since 1992 (when records were first published)
General Electric reported better than expected fourth quarter earnings before the open Wednesday. $GE Shares continued to recover, rising 10% to be up nearly 50% in the past 12 months to its highest level since October 2018.
General Electric reported weaker than expected third quarter earnings before the open Tuesday. $GE also slashed its dividend to a penny also an SEC probe into its accounting practices widened. GE fell to a new seven year low on the negative news flood.
Former Dow member General Electric reported better than expected second quarter earnings before the open Friday. Aviation and healthcare were the stand outs, power and renewabe energy the the lagards.
General Electric (GE) often seen as bellwether for the U.S. economy and just like the economy the stock is floundering near 2015 levels and is the second worst performer in the Dow this year. $GE reports Q217 earnings before the open Friday.