February 17, 2018

GE cutting 12K jobs from Power unit to reduce structural costs

07 December 2017, 07:52 | Hattie Nash

GE cutting 12K jobs from Power unit to reduce structural costs

GE cutting 12K jobs from Power unit to reduce structural costs

Private Ocean, a California-based fund reported 2,069 shares. American Electric Power Company, Inc. Its up 0.10, from 0.99 in 2017Q1. 43,913,600 shares of the stock were exchanged, compared to its average volume of 45,110,766. It has outperformed by 12.26% the S&P500. Westwood Il holds 0.04% or 10,500 shares. The First Fiduciary Investment Counsel Inc holds 749,269 shares with $20.24 million value, up from 730,758 last quarter. Ullmann Financial Group Inc. purchased a new position in General Electric in the 1st quarter valued at approximately $106,000. The stock increased 1.59% or $0.28 during the last trading session, reaching $17.94. The insider now holds 56,834 shares of American Electric Power Company, Inc. It has underperformed by 6.51% the S&P500. Mirador Partners Lp holds 3,642 shares or 0.16% of its portfolio.

General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, October 20th. In the previous year there have been a total of 15 insider trades, including 0 open market buys and 15 sells. AEP's profit will be $373.83 million for 25.24 P/E if the $0.76 EPS becomes a reality. ValuEngine raised shares of American Electric Power from a "hold" rating to a "buy" rating in a research note on Tuesday, November 14th.

Broadcom Limited (AVGO) Analysts See $3.92 EPS
With 2.76 million avg volume, 1 days are for Broadcom Limited Ord (NASDAQ: AVGO)'s short sellers to cover AVGO's short positions. Broadcom has been working to convince investors that its offer of $70 a share provides the most value to shareholders.

Investors sentiment decreased to 0.79 in 2017 Q2. Its down 0.03, from 0.82 in 2017Q1. It improved, as 37 investors sold AEP shares while 255 reduced holdings. 111 funds opened positions while 598 raised stakes. Following the acquisition, the director now owns 5,500 shares of the company's stock, valued at approximately $100,320. Homrich & Berg now owns 16,034 shares of the utilities provider's stock valued at $1,114,000 after acquiring an additional 321 shares in the last quarter. Sound Shore Mgmt Ct holds 2.85% or 6.44M shares in its portfolio. Lazard Asset Management Limited Liability Corporation has invested 0.29% in General Electric Company (NYSE:GE). Girard Prtnrs Limited reported 2,881 shares or 0.04% of all its holdings. Duncker Streett Incorporated accumulated 0.11% or 4,975 shares. (NYSE:AEP). Spirit Of America Mgmt reported 7,920 shares. Macguire Cheswick & Tuttle Investment Counsel Llc sold 68,110 shares as General Electric Co (GE)'s stock declined 7.64%. Bowling Port Mngmt Ltd Liability Co holds 0.42% or 106,442 shares. (NYSE:AEP) might see muted action given an ABR of 2.4 or Hold rating. Therefore 40% are positive. The stock recovered -0.83% since its low point and has performed -31.3% year-to-date. The company now has a consensus rating of "Hold" and a consensus target price of $73.91. Friday's USA job report is projected to show an increase in payrolls, while the unemployment rate continues to hold at an nearly 17-year low of 4.1 percent. On Wednesday, July 20 the stock rating was maintained by Citigroup with "Neutral". The firm has "House Stock" rating by Shore Capital given on Thursday, June 22. The rating was maintained by Barclays Capital with "Overweight" on Monday, October 5. Alpine Woods Capital Invsts Lc invested 0.05% in General Electric Company (NYSE:GE). CFRA has "Hold" rating and $2700 target.

Trimming the workforce will help GE achieve its goal of slicing $1 billion of structural costs next year in the power division. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock.

Golfer Louis Oosthuizen pulls out of Johannesburg open after freak accident
"I didn't play as many tournaments as I usually do a year ago , with family issues", he said. So I'm going to have to withdraw from this one.

Analysts await American Electric Power Company, Inc. Canaccord Genuity maintained it with "Buy" rating and GBX 320 target in Tuesday, November 28 report. As per Thursday, September 17, the company rating was maintained by Jefferies. (NYSE:AEP) higher to the next line of resistance at $78.44 a share. The firm earned "Equal-Weight" rating on Monday, November 13 by Morgan Stanley. (NASDAQ:III) on Tuesday, August 8 with "Buy" rating. The stock of SafeCharge International Group Limited (LON:SCH) has "Buy" rating given on Thursday, July 23 by Numis Securities.

A Little Bit Easier! Apple Officially Launches Apple Pay Cash
In June 2016, Apple Pay users gained the ability to make cash withdrawals from Bank of America ATMs using their iPhones. Sending and receiving money from friends and family is now secure, faster and more convenient than ever with Apple Pay.

Other News

Trending Now

Instagram Is Testing A Direct Standalone Messaging App To Replace Inbox
This is similar to how Facebook stripped out the messaging aspect of its core app and introduced Messenger as its IM platform. The Verge reports Instagram is now testing Direct in five countries: Chile, Israel, Italy, Portugal, Turkey, and Uruguay.

Pacers dominate fourth quarter to hand Bulls 10th straight loss
Lauri Markkanen missed a potential game-winning 3-pointer in the final seconds of Chicago's 10th straight loss. The Pacers will be facing tougher competition next game as they face the Cavaliers on Friday.

First look at Jessica Chastain in X-Men: Dark Phoenix
This will be his second time writing within the iconic storyline, as his first try was in 2006's X-Men: The Last Stand . When a solar flare hits the X-Jet, a "surge of energy ignites a malevolent, power-hungry new force within Jean".

Champions League: Manchester United target flops while fullback wanted by Chelsea thrives
Meanwhile, in Group G, Besiktas have surprisingly topped the group, with FC Porto and RB Leipzig competing for second-place. Diego Simeone insisted Atletico Madrid's Champions League campaign was not a failure after they were eliminated on Tuesday.

The Investors Sell Automatic Data Processing (ADP) on Strength After Analyst Downgrade
Seaward Management Limited Partnership raised its stake in Automatic Data Processing by 2.9% in the first quarter. The Centurylink Investment Management Company holds 7,120 shares with $730,000 value, up from 4,018 last quarter.

Anheuser-Busch Goes for the Green With New Tesla Deal
Turim 21 Investimentos Ltda. bought a new stake in Anheuser Busch Inbev in the third quarter valued at approximately $58,623,000. The company has a fleet of about 750 trucks , which have the ABInBev branding but are owned and managed by outside carriers.

Analysts See $1.26 EPS for Walgreens Boots Alliance, Inc. (WBA)
Shares have moved $8.54 over the past month and more recently, $3.14 over the past week heading into the earnings announcement. A company that manages their assets well will have a high return, while if manages their assets poorly will have a low return.

Elections: Kano people are in my Pocket
The president was accompanied to the Kano prison by the Minister of Interior, General Abdurrahman Danbazau, among others. He said, "From 1999 to 2014, the wealth of this country was lavishly squandered by those in the position of authority".

Delhi government to NGT: No exemption for women in next odd-even programme
Today, the Delhi government has submitted its much-awaited action plan to combat pollution level and the bad air quality . The NGT had made it clear that only emergency vehicles such as fire engines and ambulances can be granted an exemption.

Sony PS4 Sales Pass 70 Million Thanks To Black Friday Discount
Finally , the company said it has sold more than 12.2 million copies of the 150 games releases for the PSVR through December 3rd. On the software front, over 614.8 million physical and digital PlayStation 4 titles have been sold around the world.