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23:10 GE maintains heady gains after confident conference call - General Electric Company (NYSE:GE)

英文24小时播报 1月前 91

CEO John Flannery and CFO Jamie Miller strike a confident in General Electric's (GE +4.1%) earnings conference call, talking about “a new way to run the company,” an “enhanced” approach and “green shoots," after reporting better than expected Q1 results.

GE says it is finalizing plans this quarter to unload the transportation business and formally acknowledges that it plans to sell the distributed power operations.

Aviation is a bright spot for the company, where GE says the outlook is very solid with demand outpacing capacity; even though the new Leap engines are ~70 units behind, management expects to be back on track by the end of Q3.

The Power unit is a "multi-year fix" and faces a challenging market because of progress on energy efficiency globally and the growth of renewables.

No major bad news is good news for investors, and shares so far have rallied although they have eased off earlier highs after GE bear Steve Tusa at J.P. Morgan told CNBC that the Q1 beat was "low quality" and that he maintains his Underweight rating.

Source: Bloomberg First Word

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