The transaction would help GE raise around $4 billion (estimated at current stock price of Baker Hughes). The announcement comes a day after GE CEO Larry Culp told CNBC he felt  a “sense of urgency” to fix the mounting debt problems of the conglomerate, and one of the ways he suggested to do that was to sell off GE’s stake in Baker Hughes.After the sale, GE's stake in the oil firm would come to a little above 50% (versus the existing 62.7%).

General Electric’s shares tumbled by ~10% on Monday and got as low as $7.72, after the CEO of the company in an interview with CNBC said GE may fall short of its 2018 sales target. As part of the interview given to CNBC, Larry Culp said the first priority for the company is to bring its leverage down through assets sales.GE’s debt-to-equity ratio for the third quarter stood at 3.7%, which is more than four times the industry average of 0.77%. The ailing condition of a number of GE's business segment, like power, aren't helping much in the process.

Culp also said he feels the "urgency" to shrink the company's leverage and plans to do so through asset sales. Under Culp’s leadership, GE's dividend  has been reduced to a penny, and  the conglomerate took a $22 billion accounting writedown. Culp mentioned Monday that he is planning to reduce debt further by raising cash through a possible IPO of its healthcare business, sale of its transportation unit and by exiting its Baker-Hughes oil field services business (as suggested by a CNBC article). What possibly exacerbated the company's stock price decline  was the alarming prediction made by JP Morgan Chase analyst C. Stephen Tusa, Jr. (published on Friday) that GE's stock will plummet another -33% to touch $6 by the end of 2019 owing to its mounting debt.

J.P.The company further added that it is taking the necessary aggressive measures to strengthen its balance sheet through accelerated deleveraging and by restructuring efforts. The question is, does the market have any confidence left in GE?

The conglomerate announced Tuesday that it is handing over its commercial LED making business Current to private equity firm American Industrial Partners. GE's decision to sell its commercial lighting business comes merely three years after it was started to make LED technology, sensors, controls and software that were supplied to offices of companies like  Walmart and JPMorgan Chase.Previously this year, GE revealed plans to spin-off its healthcare segment, and agreed to sell its 111 year old rail business to locomotive company Wabtech. On Tuesday, GE also completed the $3.25 billion sale of its distributed power segment to private equity company Advent International.

The century-old but struggling multinational business conglomerate, General Electric, is all set to sell-off its gasification business to the industrial gases and chemicals seller Air Products and Chemicals Inc (APD, $157.37) for an undisclosed amount. For GE, it comes as a part of its divestiture strategy to secure the company’s long-term future. But for APD, this acquisition is highly beneficial as it allows the company to widen its synthesis gas (syngas) solutions product offerings.Furthermore, with the proven technological strength of GE, it enhances APD’s capabilities along with complementing its recent gasification technology acquisition.

Last Thursday’s trading session saw shares of General Electric (GE) shares drop below the $9.80 mark, which was their lowest level since April 2009, on the back of concerns surrounding increased tax liability for the company. GE’s shares dropped by another 4% on Thursday as market analysts voiced their expectation that the near near-term tax liabilities of the company are set to rise significantly. As per the Tax Cuts and Jobs Act, the company owes as much as $9 billion in taxes whereas the company took into consideration only $3.3 billion in charges while citing various offsetting for the rest.Now ,if some of the ‘offsets’ are disallowed, the company could wind up owing a large tax bill near term. Considering the present situation of the company, with cash flows weakening and fundamentals of the power segment declining and a rising funding cost of GE Capital as the company was forced out of the commercial paper market – this additional tax burden is taking a heavy toll on th

General Electric’s (GE) share price dropped by ~10% to below $10 a share during Tuesday’s trading day, as its new CEO Larry Culp started the post-earnings conference call. 119 year-old GE’s shares dropped to as low as $9.87 per share on Tuesday, their lowest levels since hitting $9.80 a share in April 2009.The stock was also in-line for its biggest one-day drop since March 2009. GE reported third-quarter earnings and revenue that again missed analyst’s expectations.

General Electric cuts its quarterly dividends to just a penny per share, from 12 cents. Shareholders were getting  dividends of 24 cents per share  a year ago.Its new CEO Larry Culp has yet to give out a definitive statement publicly on how he plans to turn around the conglomerate’s prospects, particularly of its power-equipment division. Sales from the power business had plunged -33% in Q3. Culp decided to split the power division into two units: the gas product and services groups being one unit, while GE Power’s other segments, including steam, nuclear, grid solutions and power conversion will make up the other unit.

The struggle for GE continues for a major part of 2018, as the company postponed its Q3 2018 earnings call by five days to October 30, 2018 -- largely owing to needing further review of the fair value of all its assets and liabilities, after it came to notice that the goodwill of the power division needs a write-down of ~$23 billion. With profits dropping by nearly 30% in the previous quarter, this $23 billion book entry is another major blow for the company.Market analysts believe the real economic loss for GE may be in the range of $67 billion. The abysmal performance of the power division and the renewable energy division in 2018, coupled with this impairment loss, may make GE's balance sheet look worse compared to its recent past even though there is zero cash loss. 

General Electric’s stock rally following appointment of a new CEO snapped last week, with its shares touching a new low on Friday. In recent times, the company has been mired in deep-seated troubles including a cratering insurance business and challenges in its power-equipment segment.On Friday, GE stock price dropped more than -4% to $11.3 – its lowest since September 28 which was the last trading day before Culp was named CEO. The stock’s decline over the whole of last week was around -10%.

The recently announced multibillion-dollar deal between the Iraq government and Siemens and General Electric (GE, $12.42) is a big boost for the struggling power division of both companies, as it lays the foundation for both companies to win many such contracts in the near future. Slow demand growth in developing nations coupled with an increasing importance of renewable energy had hit both companies hard in the recent times.But this contract to sell power equipment to the nation’s ailing power infrastructure industry is a big win for both. Despite a closely fought battle between GE and Munich-based Siemens, the latter was in a pole position to win the entire contract worth US$15 billion.

General Electric Co. has landed a $700 million contract to supply turbine and generator units for Egypt’s first nuclear power project. GE will deliver four turbine units – reportedly one in each year from 2023 through 2026 - for Egypt’s planned 4,800 megawatt El Dabaa nuclear facility.The units will start operating at the rate of one per year from 2026 until 2029, said Michael Keroulle, chief commercial officer for GE’s Steam Power business, in a phone interview (according to Bloomberg). The contract has been awarded to AAEM (a joint venture between GE and Russia-based Atomenergomash), which will design and deliver the turbine system for the reactor, according to GE.

The defense giant has just been awarded a $26.7 MM contract to provide maintenance and technical support for the Trident II D5 missile over the next two years at its facilities in Huntington Beach, CA and Heath, OH. The Trident II (D5) is a long range missile equipped on submarines since the early 1990s.Its guidance and delivery systems are constantly upgraded as technology evolves, and the missiles are intended to remain in service for at least another decade. The United States defense budget has been approved for an increase of 5% in 2019, totaling $717 billion, which could contribute to strong years for Beoing (BA), Lockheed Martin (LMT), Huntington Ingalls Industries (HII) and other defense contractors.

Jeff Bezos-backed startup Blue Origin just clinched a major contract - with United Launch Alliance (ULA). Blue Origin’s BE-4 engines will power ULA's Vulcan Centaur - a new suite of rockets touted to potentially undercut Elon Musk’s SpaceX rockets on price.ULA, on the other hand, is a joint venture of Boeing and Lockheed Martin, and manufactures sensitive national security satellites for the US government. Blue Origin’s winning the Vulcan Centaur deal would likely lead to the former opening a  200,000 square foot plant that will create 400 new manufacturing jobs, as indicated by Blue Origin in July last year.

Whirlpool had earlier cheered President Donald Trumps’ tariffs on imported washing machines, hoping the policy to boost the firm's sales. But Trump’s tariff spree also includes raw material such as steel and aluminum."  The company has been hiking prices on its washing machines following Trump’s implementation of the tariffs, amidst flagging sales in recent times.

GE Power’s profits plummeted -58% in Q2 2018 compared to the same period a year ago.A -26% decline in orders for its products and a -19% plunge in its revenues were some of the “big blows” to GE Power in Q2. The total profit of GE dropped – 30% year-over-year in Q2. The Power segment occupies the largest slice in the conglomerate's revenues. Nevertheless, GE's revenues managed to grow at +3%, on the back of solidly positive revenue growth in its Oil & Gas and Aviation segments. GE, which is in the process of shedding off some of its businesses and cutting costs, plans to lay off 12,000 workers at GE Power, as announced late last year.  

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