general electric co (GE) Key Developments
Capital One And Apollo Global To Reportedly Make Final Offers For GE Health Lender
Jul 24 15
Capital One Financial Corporation (NYSE:COF) and Apollo Global Management, LLC (NYSE:APO) are expected to make final bids for health-care finance unit of General Electric Company (NYSE:GE), people with knowledge of the matter said. Final offers are due next week for the GE Capital business (General Electric Capital Corporation). The sale is expected to fetch more than $11 billion, said the people. At least one other suitor is expected to submit a proposal, the people said. GE is working with JPMorgan Chase & Co. on the sale and may select a buyer in August 2015, the people said.
Microsoft Corp. and General Electric Sign an Agreement to Deliver Microsoft's Cloud Productivity Suite Office 365
Jul 20 15
Microsoft Corp. and General Electric have signed an agreement to deliver Microsoft's cloud productivity suite Office 365 to GE's more than 300,000 employees across 170 countries worldwide. GE's IT organization, which is recognized as one of the most strategic and forward-thinking among large enterprises worldwide, selected Office 365 based on Microsoft's ability to deliver rich productivity experiences at massive scale across devices and platforms, as well as its ability to rapidly and reliably deploy to GE 's large global employee population. Specifically, Office 365 will provide several key benefits to GE and its employees, including these: A comprehensive and integrated set of productivity capabilities including email, Skype for Business calling and meetings, real-time document co-authoring, and team collaboration. Extensibility of the Office 365 platform, which will enable GE to enhance the capabilities of critical line-of-business applications by connecting to Office 365 through open APIs· IT controls and security capabilities that enable GE to provide employees with secured access to information and full productivity capabilities on a multitude of devices, while adhering to corporate policies, industry regulations and legal requirements.
General Electric Secures Orders for 10 LMS100 Gas Turbines in North America
Jul 20 15
General Electric has secured 10 orders of its LMS100 aeroderivative gas turbine with two customers in North America in the second quarter of 2015. The 10 units-five LMS100-PA gas turbine units and five LMS100-PA+ gas turbine units-have been ordered by two American customers. With up to 116 megawatts (MW) of total power output, the LMS100-PA+ is the latest model to be offered for customers. It provides more than 10% increased power output without any increase in emissions. In addition, the LMS100 turbine achieves simple-cycle efficiency of 44%, greater than any other gas turbine available presently. The units will be installed in the southwestern US to support grid stability as new renewable energy is added, and they will replace older gas-fired steam turbine generator systems. The LMS100 was designed to provide flexible and reliable distributed power, in part to help offset grid fluctuations; it can ramp from zero to 50 MW of power in one minute and zero to full power in less than 10 minutes. Apart from its stellar efficiency, LMS100 technology provides a reliability of 99.8%, with more than 340,000 successful combined operating hours across the fleet. Each LMS100 model is Ecomagination-qualified and is estimated to reduce carbon dioxide emissions by more than 31,000 metric tons, or the equivalent amount of carbon dioxide consumed by 20,000 acres of forest, compared to a typical simple-cycle 100-MW gas turbine plant each year.
General Electric Company and Pitney Bowes Announces an Alliance to Develop Asset Performance Management
Jul 20 15
General Electric Company and Pitney Bowes have announced an alliance to develop asset performance management, or APM, applications for Pitney Bowes and its enterprise business solutions customers. All of the services will be built on and powered by Predix, GE's software platform for the Industrial Internet. This will enable Pitney Bowes to analyze data generated from its own production mailing and shipping machines and those of its clients to provide client and productivity services, and job scheduling capabilities that improve business outcomes. Pitney Bowes clients, such as financial institutions, telecommunications providers, and insurance firms, are producing and mailing hundreds of thousands of transactional and direct mail pieces daily. By combining the physical and digital elements of high-speed production mail operations and leveraging big data analytics, they will gain greater visibility, increased productivity, significant operational efficiencies and more reliable services for their machines. With applications based on GE Predix, Pitney Bowes will also be able to improve asset performance and drive operational efficiencies for its on-site and on-call service models. The custom-built APM solutions will be designed to help Pitney Bowes proactively identify, diagnose and resolve asset service issues even before the client is aware, reducing and eliminating downtime. The applications will also help Pitney Bowes clients drive machine, personnel, factory site and company-wide operational productivity. These services will provide business opportunity for Pitney Bowes as they offer these applications and their benefits to customers.
General Electric Company Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015
Jul 17 15
General Electric Company reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total revenues and other income was $32,754 million against $32,260 million last year. Consolidated net earnings attributable to the company were $3,545 million against $3,133 million last year. Earnings from continuing operations before income taxes were $3,583 million against $3,076 million last year. Earnings from continuing operations were $2,615 million against $2,884 million last year. Net loss attributable to GE common shareowners were $1,360 million against net earnings attributable to GE common shareowners of $3,545 million last year. Earnings from continuing operations attributable to GE common shareowners were $3,586 million against $3,257 million last year. Diluted loss per share from continuing operations were $0.24 against $0.28 diluted earnings per share from continuing operations of last year. Basic and diluted loss per share were $0.13 against basic and diluted earnings per share of $0.35 last year. Operating earnings were $2,838 million or $0.28 per diluted share against $3,228 million or $0.32 per diluted share last year.
For the six months, the company reported total revenues and other income was $61,051 million against $62,488 million last year. Consolidated net loss attributable to the company were $14,933 million against consolidated net earnings attributable to the company of $6,544 million last year. Earnings from continuing operations before income taxes were $2,347 million against $5,771 million last year. Loss from continuing operations were $4,754 million against income from continuing operations of $5,138 million last year. Net loss attributable to GE common shareowners were $14,933 million against net earnings attributable to GE common shareowners of $3,545 million last year. Loss from continuing operations attributable to GE common shareowners were $4,944 million against earnings from continuing operations attributable to GE common shareowners of $5,185 million last year. Diluted loss per share from continuing operations were $0.49 against $0.51 diluted earnings per share from continuing operations of last year. Basic and diluted loss per share were $1.48 against basic and diluted earnings per share of $0.65 last year. Operating loss were $4,044 million or $0.40 per diluted share against operating earnings of $5,871 million or $0.58 per diluted share last year.