General Electric Earnings Higher Driven by Aerospace Segment

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”

US Industrial Production in May Slows with Manufacturing Falling

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”

East China Manufacturing Hub Zhejiang Orders Production Suspensions to Meet Energy Targets

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.

China First Quarter GDP Grows At Strongest Pace On Record At 18.3%

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 Shares Continue To Rise After Stronger Earnings Than Expected

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 Miss Earnings, Cut Dividend as SEC Probe Widens

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.