The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Positive Points: General Electric remains something of a 'bellwether' for US industrial health. Diversification for both product type and geographical end markets allows the company to offset specific difficulties. GE's order backlog, watched by investors as an important indicator of future sales growth, reached $210 billion in the fourth quarter, up from $203 billion in the third quarter. The company achieved double-digit earnings growth in five of seven of its Industrial segments. GE Capital progressed with its strategy of a smaller, more focused financial services business with solid profits that grew 9% in the quarter to $1.81 billion. The company's strong cash position enabled it to repurchase $2.1 billion of stock during the fourth quarter and $5.2 billion of stock for the year. General Electric was one of the original 12 companies listed on the Dow Jones Industrial Average when it was formed in 1896. In December, the board of Directors raised the company's dividend 12% to $0.19 per share.
Negative Points: The health of the global economy remains a major factor going forward. Should GE resume its acquisition growth strategy, its success will depend on identifying and acquiring businesses at prices that can be attractive to group earnings. With cyclical exposure in power generation, commercial aerospace as well as commodity prices, each could cause GE's results to be lower than anticipated. Uncertainty on capital requirements at GE Capital lies in the background. GE has exposure to any impact caused by healthcare reform legislation.
Financial Highlights: GE announced fourth quarter profits of $4.01 billion, up from $3.73 billion a year earlier. Revenues rose 4% for the quarter to $39.3 billion, and totalled $147.4 billion for the year. GE's industrial segment profit rose 12% in the period to $4.9 billion. The conglomerate said it ended the quarter with $77 billion of consolidated cash and cash equivalents.
Fourth quarter results: Industrial behemoth General Electric reported a better than expected 7.5% rise in profits, due in part to an improved performance within the group's GE Capital financial arm. In a statement, CEO Jeff Immelt said the outlook for developed markets remained uncertain, but China and other emerging markets, along with regions that are exploiting natural resources, are growing. GE is focusing on its more traditional industrial operations, such as making complex industrial equipment and providing services to industrial companies. The company is shrinking its banking division and trimming other non-industrial operations like commercial real estate and expects revenue and profit growth to continue this year. GE said its backlog of new business reached $210 billion, its highest ever.
Not keen to compromise anonymity here at LSE - my views are straightforward and punchy (and some might get upset by truth and light!!) How about cut and paste of interesting bits on to this board?
Positive Points: Industrial sales of $24.7 billion increased 7% versus compared to Q3 2011. All Industrial segments reported positive earnings growth for the first time since the third quarter of 2005. Industrial segment profit was up 11% to $3.6 billion and segment operating profits was strong in Energy Infrastructure and Transportation, up 13% and 35% respectively. Management highlighted that GE Capital remains on target to become a smaller, more focused financial services business with solid earnings. GE Capital earnings rose by 11%. The board left earnings guidance for the full year unchanged. It noted that the group remained "on tracked to deliver on double-digit earnings growth in 2012." The group has returned $8.4 billion to shareholders year-to-date, including a $3 billion buyback. General Electric remains something of a 'bellwether' for US industrial health. Diversification for both product type and geographical end markets allows the company to offset specific difficulties.
Negative Points: Group revenues came in below analyst forecasts. Reduced wind turbine orders hit. Currency movements impacted, reducing revenues by $1.1 billion. The health of the global economy remains a major factor going forward. Should GE resume its acquisition growth strategy, its success will depend on identifying and acquiring businesses at prices that can be attractive to group earnings.
Financial Highlights: Total group revenues rose by 3% to $36.3 billion, or 6% when excluding currency movements. Currency movements negatively impacted revenues by $1.1 billion. Adjusted or operating earnings per share rose by 13% to $0.36. The profit margin rose by 0.7% over the prior year period. Increases in all 5 industrial segments were achieved.
Third quarter results: Infrastructure orders down at GE. Group revenues came in below that forecast by analysts, with the share price declining in early trade. Infrastructure orders of $21.5 billion were generated, down 5%, primarily driven by a fall in orders for wind turbines. Currency movements also impacted, reducing revenues by $1.1 billion. Nonetheless, when excluding the effects of wind turbines and foreign exchange, orders rose by 4%. Pricing on orders was up 0.1% in total for the quarter. All Industrial segments enjoyed positive earnings growth for the first time since the third quarter of 2005 - Energy Infrastructure, Transportation and Home & Business Solutions reported double-digit earnings growth. In all, despite concerns for the global economic outlook, ongoing management initiatives and the group's diversity in both product type and geographical location leave it favoured
Company overview General Electric traces its beginnings to Thomas A. Edison, who established Edison Electric Light Company in 1878. In 1892, a merger of Edison General Electric Company and Thomson-Houston Electric Company created General Electric Company. GE is the only company listed in the Dow Jones Industrial Index today that was also included in the original index in 1896. In fact, it is the only one of the original 12 DJIA companies that still exists. Today, General Electric Company is a multinational American technology and services conglomerate incorporated in the State of New York.
Valid as firelighter only!
I've got some old gec share certificates, how can I find out if they are still valid?