Thursday, 14 December, 2017

United States stocks close lower as General Electric drags Dow

Closing Indexes Summary July 19 Investors Buy Large Volume of Put Options on SPDR Dow Jones Industrial Average ETF (DIA)
Preston Stone | 22 July, 2017, 00:42

Shares of General Electronics fell from 3% in premarket trading after the organization results beat estimation but posted a almost 60% decline in gains. The stock is moving on low volume, traded at a volume of 25.08 million shares, as compared to its average daily volume of 41.59 million shares. Oil and gas revenue fell 3% to $3.11 billion but was above the FactSet consensus of $2.93 billion and power revenue increased 5% to $6.97 billion to beat expectations of $6.64 billion, but flat aviation revenue of $6.53 billion missed expectations of $6.70 billion.

Both sides agreed unanimously on the arrangement in October, with the oil and gas unit of GE taking a 62.5 percent stake in Baker Hughes for an entity with combined revenue of $32 billion. In the same period a year ago, GE reported EPS of $0.51 on revenues of $33.49 billion. Revenue fell 12% to $29.56 billion.

With oil prices having fallen from $53 to $48 per barrel over the second quarter, GE warned of weaker full-year trading from its unit that serves the oil & gas industry.

That doesn't mean the manufacturing giant founded by Thomas Edison in the late 1800s will be in limbo from the time the 55-year-old Flannery takes the reins from Jeffrey Immelt on August 1 until he presents his strategy to investors in November.

The company reported a 53 percent drop in profit to $1.37 billion, or 13 cents per share.

Drug dealer reports stolen cocaine to cops; gets arrested
According to the arrest report, Blackmon asked deputies why they let him keep talking if they saw the cocaine in the vehicle . He was arrested on Sunday and charged with resisting arrest without violence, as well as possession of the drugs and pipe.

For the company as a whole, industrial operating cash flow rose to $1.5 billion, a sharp turnaround from the previous quarter.

We expect cash flow to continue to improve throughout the year.

GE has cut $670-million in industrial overhead costs this year, Immelt said, and will "meet or exceed" its $1-billion target for 2017 - a goal set after discussion with activist investor Trian Fund Management.

Estimates: Honeywell is expected to post a 7% gain in EPS to $1.78 as sales dip 1.6% to $9.84 billion. In between, The Nasdaq, on Thursday witnessed its 10th straight record close, marking its best succession since February 2015.

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