S&P Downgrades GE Rating on Power Woes
GE's "solid performance" in aviation and health care has been "overshadowed by weakness in the power segment," the rating agency says.
GE Ousts CEO Flannery as Slump Continues
The removal of John Flannery after a year on the job reflects "the board's frustration with the slow pace of change under his leadership.”
GE Profits Plummet, But Hopeful Signs Appear
GE's second-quarter profits sank 30% from last year, but revenue was up, beating analyst expectations.
S&P Warns of Negative Impact From GE Spinoff
The rating agency puts GE on watch for a possible downgrade, saying the healthcare spinoff could result in “more volatile profitability and cash flow.”
GE Sheds Train Engine Unit With $11B Merger
The deal with railroad manufacturing firm Wabtec is the biggest step so far in GE's plan to streamline its operations to three core segments.
Big Drop in Power Profit Tempers GE’s Q1 Beat
"Until you get power fixed, and they're nowhere close to getting that fixed, the stock only goes so far," one analyst says.
GE Sells Healthcare Assets to PE Firm for $1B
The sale to Veritas Capital appears to fit General Electric's "overarching objective to become a truly digital industrial company."
GE Adds Accounting, Finance Experts to Board
The nominations of three new directors include former FASB head Leslie Seidman and former AT&T CFO Thomas Horton.
GE Keeping Faith in Baker Hughes Merger
GE had been exploring "exit options" but CFO Jamie Miller says it now sees "a lot of upside" for Baker Hughes.
GE Chair Mulls Breakup of Company
General Electric's three core assets — power, aviation, and healthcare — may one day be up for grabs.
GE Slims Down Further With Power Layoffs
The 12,000 job cuts are "painful but necessary for GE Power to respond to the disruption in the power market."