GE's latest earnings are a last-chance showing for its CEO
22 July, 2017, 00:43 | Author: Celia Hoffman
In the second quarter, Earnings per Share came in at 28 cents, as opposed to expectations of 25 cents.
Stock: Shares dipped 0.1% before the opening bell on the stock market today, after rebounding 2.4% last week from a 21-month intraday low on July 10. The company backed its full-year target of $12 billion to $14 billion, and Mr. Immelt said the company expects cash flow to continue to improve throughout the year. This was on revenues of $29.6 billion.
Veteran chief executive Jeff Immelt, who is soon to step down after almost two decades at the helm, claimed the behemoth was on course to "meet or exceed" its $1bn cost-cutting target for the year, having already reduced structural costs by $670m year-to-date. The industrial conglomerate has been providing shareholders with a number of bottom-line figures lately, in an effort to give Wall Street a clearer picture of year-over-year performance. In the same period a year ago, GE reported EPS of $0.51 on revenues of $33.49 billion.
Net profit slumped 58 percent to $1.34 billion, or 15 cents a share, in the quarter ended June 30, from $3.30 billion, or 36 cents a share, a year earlier. That business and GE's power division showed an "unusual degree of margin weakness", Morgan Stanley analyst Nigel Coe said in a note to clients. Industrial cash flow was $1.5 billion, much better than in the prior quarter.
China and US Fail to Come to Agreement on Trade
He added that the U.S. and China have no choice but to cooperate economically even if they wanted to buy and hire locally. We need to work together to maximize the benefits for both sides.
Beyoncé and Jay-Z's twins are too cool for middle names
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DHS allows 15000 more seasonal foreign workers this year
The Department of Homeland Security announced Monday that it will be increasing the number of H-2B visas by 15,000. Under the H-2 visa program, employers must also attest that they have made every effort to hire domestically.
Guidance for 2018 will be provided at a later date by incoming CEO John Flannery, who will step into the role in August and the role of chairman in January.
"The global scale of the company, along with our ability to innovate industry-leading products and services, will help us navigate the current environment and unlock productivity across our businesses and markets", added Immelt. Six-month revenue of $4.5 billion from renewable energy was up 20 percent from past year.
Estimates:Honeywell is expected to post a 7% gain in EPS to $1.78 as sales dip 1.6% to $9.84 billion. On Thursday, it closed just below buy range and near the session low after setting a record high of 136.41.
E-PACE is the newest member to join Jaguar's SUV line-up that include all-electric I-PACE Concept and the Jaguar F-PACE. Interestingly, the E-Pace doesn't get the rising rotary gear selector that is found on the various other Jaguar models.
Currently, there is no indication that any will, but the net neutrality rules do not preventing these companies from doing so. This has prompted a 90-day period in which members of the public can comment on the proposed rules up until July 17.
Silverstone Circuit became the full-time home of the British Grand Prix in 1987, but may not be for much longer. However, Silverstone is now the only track in Great Britain that meets F1's Grade 1 standards.
Europol executive director Rob Wainwright said: "This is an outstanding success by authorities in Europe and the US". The suspected administrators of the Hansa marketplace were arrested in Germany and are now in custody.
The drop came after the USA data raised doubts about U.S. economic growth and whether the Fed will hike rates again this year. The most-active USA gold futures for August delivery futures settled up $10.20, or 0.84 percent, at $1,227.50 per ounce.
German companies have either invested in or own 6,000 firms operating in Turkey , generating approximately 60,000 jobs. Idil Eser, the state director of Amnesty International, and five other human rights campaigners were seized this week.
The then BJP government in 2012 had opposed the demands of declaring the red-and-yellow flag as official state flag. He dared the BJP leaders to make a public statement that the party is not in favour of a flag for Karnataka.
Grassley declined to comment on whether he thought there was anything criminal in Trump Jr.'s meeting with Veselnitskaya. That email led to the June 9, 2016 meeting, at which Trump Jr. later said no meaningful information was provided.
Cleveland would give him the best chance to win a title and the Lakers would have the role best fit for the veteran point guard. While with the Knicks last season, Derrick Rose averaged 18 points, 4.4 assists, and 3.8 rebounds in about 32.5 minutes a game.
The reports have generally pointed to a possible 1-to-2 month lag in the iPhone 8's production ramp relative to the 7S ramp. Instead of the entire phone being delayed, it seems that maybe some features could be disabled at launch .
Manu Ginobili Likely to Return to Spurs
Ginobili ranks in the top five in Spurs franchise history in games (992), points (13,467), assists (3,838) and steals (1,349). So, to put the icing on the cake, Ginobili confirmed on Twitter that he will return to San Antonio for another season.
School District Funding Bill Comparison
Bruce Rauner says he'll issue an amendatory veto of Senate Bill 1 to remove a pension "bailout" for Chicago Public Schools . IL schools rely on local property taxes to cover more than 60 percent of their costs, it said.
Highest voter turnout ever for presidential election
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Andromeda Releases 10-Hour Trial
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China's Nobel Laureate dies a prisoner at 61
He was recently moved from jail to a hospital in the city of Shenyang to be treated for late-stage liver cancer. It's a huge shock for me", Liu, who is not related to the laureate, said.
PlayerUnknown's Battlegrounds Getting First-Person Servers
KitGuru Says: A first-person only mode in a battle royale game will prove significantly more hard , acting like a hardcore mode. Because the camera can be rotated in third-person, this allows players to peek around cover without putting themselves at-risk.
Flood, flash-food watches posted for Toledo area
At 10:14 a.m., Weather Service Doppler radar indicated thunderstorms producing heavy rain across the warned areas. Amtrak suspended Hiawatha Service between Chicago and Milwaukee just before 8 a.m. due to flooding.