General Electric Has A Bigger Rival In This Key Business Segment [Investor's Business Daily]
GE Aerospace (GE)
Last ge aerospace earnings: 4/30 04:02 pm
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Source: Investors Business Daily
Related news Japan's Hitachi agreed to acquire a power-grid unit from Swiss engineering firm ABB ( ABB ) for $6.4 billion, in a deal that would make it the world's No. 2 player in heavy electrical equipment behind General Electric ( GE ). X The deal values ABB's power-grid business at $11 billion. The Japanese conglomerate seeks to leverage its strength in power generation and information technology as GE and Siemens ( SIEGY ) streamline their power businesses in a slumping market. Hitachi will get 80% of ABB's power grid unit initially, with the option to later increase the stake to 100%. ABB operates the world's largest grid business. "We will be able to acquire the world's No. 1 power grid business," Toshiaki Higashihara , president and CEO of Hitachi, said Monday. "With the acquisition, Hitachi will show its further evolution as a global enterprise." ABB rose 0.2% to 19.44 on the stock market today . GE stock lost 0.3% and Siemens gave up 0.4% early Monday. Shares of a
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GE
Earnings
- 4/23/24 - Beat
GE
Sec Filings
- 4/23/24 - Form 10-Q
- 4/23/24 - Form 8-K
- 4/15/24 - Form 3
- GE's page on the SEC website