General Electric

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Buffett: 'We Are Not Out of Problems Yet'
Buffett: 'We
Are Not Out of Problems Yet'
INTERVIEW
Sep 8, 2009 6:38 AM CDT

Buffett: 'We Are Not Out of Problems Yet'

Investor looks to clean up on crisis, but is moving out of stocks

(Newser) - Even Warren Buffett had a bad financial crisis: The Omaha sage personally lost $25 billion in 2008, enough to put him behind Bill Gates on the worldwide rich list. But while many investors hunkered down as markets tanked, Buffett recalibrated, pouring billions into companies—Goldman Sachs, GE, BofA, Amex—that...

Dow Up 97 on Aug. Jobs Data
 Dow Up 97 on Aug. Jobs Data 
MARKETS
Sep 4, 2009 3:26 PM CDT

Dow Up 97 on Aug. Jobs Data

Indices post declines for the week

(Newser) - Traders focused on positive aspects of today's August unemployment report—declining job losses—rather than the upward revision in total jobless numbers, sending stocks higher, the Wall Street Journal reports. General Electric led advancing stocks on the Dow with a 3.35% gain. The Dow rose 96.66 points to...

Dow Off 97 Ahead of Fed News
 Dow Off 97 Ahead of Fed News 
MARKETS
Aug 11, 2009 3:24 PM CDT

Dow Off 97 Ahead of Fed News

S&P falls back below 1,000

(Newser) - Stocks fell today as investors took profits after the recent rally, the Wall Street Journal reports. Traders characterized the market as “on pause” ahead of a Fed statement on interest rates due tomorrow. Bank of America and GE led the Dow lower with 4.4% and 3.6% declines,...

What Truce? O'Reilly, Olbermann Back in the Ring

Olbermann calls O'Reilly 'worst'; O'Reilly attacks GE

(Newser) - The feud between Bill O’Reilly and Keith Olbermann continues, despite word of a peace deal: On Monday Olbermann said there was no truce and awarded O’Reilly the silver medal for “World’s Worst Person.” Then he gave the gold to Fox News honcho Rupert Murdoch. O’...

Network Execs Halted Olbermann-O'Reilly Feud

(Newser) - It took the intervention of a PBS peacemaker to halt the bitterest media fight of the decade, insiders tell the New York Times. Bosses at Fox and at MSNBC owner GE were fed up with Keith Olbermann and Bill O'Reilly's long-running feud—especially after they started savaging each other's networks—...

Dow Climbs 84, Hits '09 High
 Dow Climbs 84, Hits '09 High 
MARKETS
Jul 30, 2009 3:11 PM CDT

Dow Climbs 84, Hits '09 High

(Newser) - Good earnings reports and stellar performance by General Electric had markets at 2009 highs for a time today, the Wall Street Journal reports. “We have gotten so close to the S&P 1,000 level, you just sort of sense that unless there’s a horrible GDP number tomorrow,...

Dow Ends Solid Week Up 32
 Dow Ends Solid Week Up 32 
MARKETS
Jul 17, 2009 3:17 PM CDT

Dow Ends Solid Week Up 32

Indices all up at least 7% for the week

(Newser) - Stocks were generally flat today as investors stepped back from a 4-day rally. IBM boosted the Dow, rising 4.3% after reporting strong quarterly profits, the Wall Street Journal reports. GE and Bank of America both trended lower after reporting declining earnings. Housing data showed home construction rose in June,...

Financials Propel Dow Up 185
 Financials Propel Dow Up 185 
MARKETS
Jul 13, 2009 3:17 PM CDT

Financials Propel Dow Up 185

Big gains for major banks ahead of earnings reports

(Newser) - Stocks staged a broad rally today as financials soared ahead of earnings reports, the Wall Street Journal reports. Bank of America surged 9%, while Citigroup and JP Morgan Chase rose 6.9%. General Electric, which will also report its second-quarter earnings this week, rose 6.1%. The Dow closed up...

Obama's Environmental Pick Is Tight With the Enemy

(Newser) - President Obama's pick to run the Justice Department's environmental unit has an impressive resume when it comes to lawsuits against giant polluters. Trouble is, say her critics, all that experience has come from working with the bad guys. Ignacia Moreno, currently an attorney for GE, has spent years defending the...

GE Reaps Billions From Bailout Loophole
 GE Reaps 
 Billions From 
 Bailout Loophole 
INVESTIGATION
Jun 29, 2009 8:09 AM CDT

GE Reaps Billions From Bailout Loophole

Loophole lets company pull down $74B from FDIC

(Newser) - The biggest beneficiary of the federal government's debt guarantee program, one of Washington's key bank rescue efforts, isn't a bank or a financial services company—it's General Electric, which exploited a loophole it had lobbied aggressively to insert, and reaped billions in bailout money. A joint investigation by ProPublica and...

Banks, Energy Fall; Dow Off 201
 Banks, Energy Fall; Dow Off 201 
MARKETS
Jun 22, 2009 3:18 PM CDT

Banks, Energy Fall; Dow Off 201

Dow, S&P 500 now negative for 2009

(Newser) - A global rout in materials and energy stocks combined with a sell-off in financials to wreak havoc on US markets today, the Wall Street Journal reports. The Dow closed down 200.72 at 8,339.01. The Nasdaq lost 61.28, closing at 1,766.19, and the S&P...

Manufacturing Stats Send Dow Down 187
 Manufacturing Stats 
 Send Dow Down 187 
MARKETS
Jun 15, 2009 3:18 PM CDT

Manufacturing Stats Send Dow Down 187

Manufacturing, housing demand reports disappoint

(Newser) - Stocks fell today as a sharp monthly decline in the New York Fed’s manufacturing index hammered the materials, industrial, and energy sectors, the Wall Street Journal reports. Alcoa fell 6.3%, with Caterpillar, John Deere, and GE also down. In housing, the National Association of Home Builders’ index of...

Would-Be Car-Battery Kings Jostle Over $2.4B From Feds

States seek to become lithium-ion capital of US

(Newser) - Some 165 companies and states are battling for a $2.4 billion Obama administration grant aimed at making the US a leader in electric-car batteries, the Wall Street Journal reports. General Motors, Dow Chemical, and General Electric are among the firms vying for the money; states like Michigan, Kentucky, and...

GE Launches Disc That Stores 500GB

(Newser) - General Electric has announced a new DVD-sized disc that holds 500 gigabytes of data—the equivalent of 20 Blu-Ray discs or 100 DVDs. Aimed at archivists but likely headed for the consumer market, the micro-holographic disc saves more data by storing it in three dimensions rather than on the disc's...

Stocks Stall on Earnings; Dow Climbs 6

But extend winning streak to 6th week

(Newser) - Stocks gave up afternoon gains to close higher by single digits as a week of first-quarter earnings reports failed to spark a selloff or surge, the Wall Street Journal reports. Google’s stock barely moved after the company reported slowing sales growth. GE and Citigroup earnings beat estimates, but GE...

Stocks Mixed After Citi's Good News
 Stocks Mixed After 
 Citi's Good News 
MARKET Open
Apr 17, 2009 8:41 AM CDT

Stocks Mixed After Citi's Good News

(Newser) - Better-than-expected earnings from GE and Citigroup barely produced a ripple in the broader market this morning, the Wall Street Journal reports. Stocks were mixed, with the Dow inching up 33 points, the Nasdaq slipping 6.42 points, and the S&P flat. Citi got a 9.5% boost off its...

GE's Immelt Lacks Options
 GE's Immelt 
 Lacks Options 
ANALYSIS
Apr 3, 2009 2:32 PM CDT

GE's Immelt Lacks Options

CEO needs to shrink, simplify the business, but can't

(Newser) - Don’t envy GE’s Jeffrey Immelt. Though his core business remains profitable, the CEO presides over a huge, unwieldy empire. Parts of the conglomerate, like GE Capital, have tanked the entire corporation’s share price and caused it to lose its prized AAA credit rating. Worse, Immelt may  have...

Stocks Tread Water
 Stocks Tread Water 
MARKET Open
Mar 12, 2009 8:38 AM CDT

Stocks Tread Water

(Newser) - Stocks murmured softly at today's open, barely moving off yesterday’s numbers. The Dow fell 19 points, while the Nasdaq and S&P were essentially flat. GE was on the rise after S&P cut its credit rating less than expected, from AAA to AA+. Investors were also mulling a...

Suddenly, Blue Chips Are Penny Stocks

Nobody's too big to sell

(Newser) - America's once-mightiest stocks have been humbled. Blue chips such as Citigroup, GE, and GM are trading at laughable levels, with Citgroup shares even going under a dollar yesterday. Analysts offer two main reasons for the troubles of big companies: they relied on offering financing to customers, which killed them in...

Investors Flee GE Despite Soaring Profits

Fears about GE's capital arm and a possible loss of AAA rating stoke concerns

(Newser) - General Electric, long considered a reliable growth company paying an attractive dividend, is taking a beating ahead of a possible cut to its AAA debt rating, Bloomberg reports. Though GE recently posted its third-highest annual profit ever, the company has lost $264 billion in market value in 12 months and...

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