Economy Difficult, but Signs of Firming Seen: GE CEO
The economy is still difficult, but we’re seeing some signs of firming, General Electric CEO Jeff Immelt told CNBC in an interview.
"I think that while the economy is still difficult, we’re starting to firm," said Immelt. "We’re starting to see that the sequential appliance orders are firming, we’re starting to see some signs that businesses are ready to invest again. I think in certain ways, companies have to make their own rallies right now…I think as we get more confidence in the system, we have to pull our ways out of this.”
GE posted better-than-expected quarterly profit last Friday, as a strong performance at its large energy operation offset declines at the GE Capital finance and NBC Universal units.
“Financial services was tough as expected, but we still made money,” said Immelt. “Some of the shorter cycles like advertising on NBC are still in a difficult phase. [But] I was quite encouraged in our infrastructure orders and how our infrastructure businesses did.
Comments:
The CEO of GE has spoken on CNBC that economy is firming.They have given good profits as well.
It is one of the oldest co in lighting and electricals.More over Warren Buffet has also taken stake and that too at $24 around and it is almost less then half the price from there.
With stimulous pacakage of Obama , I think GE is going to be a wealth creator in coming years.
One can easily get 100% return in couple of years and that is a great return by USA standard....
what a coinsidence. i bought GE at 12 few days back and only today have seen ur msg. GE has many subsidaries and nbc is their smallest firm!!
ReplyDeletei am going to average this stock from 10 dollas to 7 dollars. i have seen this stock around 6 one month back but didnot realise the value of GE at that point of time.
Dear rajeev,
ReplyDeleteIts been a wonderful April so far as all my invested stocks have nearly doubled.
I have today bought 570 shares of psl ltd after seeing ur recommendation and doing my own analysis.
Looks like a wonderful stock with eps of 24 and Rs 5 given as dividend. Also as u said it is in a very promising sector and with the gas boom that will take place in the next ten to twenty years in india it should do wonderfull.
So what do u say are its targets in say one year and five years ??