China’s industrial output grew at the slowest rate in 17 years

China’s industrial output grew 5.3 percent in the first two months of this year, the slowest pace of expansion in 17 years, official data showed on Thursday. But fixed-asset investment rose 6.1 percent, while retail sales rose 8.2 percent, both more than expected. Analysts polled by Reuters had predicted industrial output growth would slow to 5.5 percent in January-February from December’s 5.7 percent gain. Investment growth had been expected to edge up slightly to 6.0 percent, from 5.9 percent


China’s industrial output grew 5.3 percent in the first two months of this year, the slowest pace of expansion in 17 years, official data showed on Thursday. But fixed-asset investment rose 6.1 percent, while retail sales rose 8.2 percent, both more than expected. Analysts polled by Reuters had predicted industrial output growth would slow to 5.5 percent in January-February from December’s 5.7 percent gain. Investment growth had been expected to edge up slightly to 6.0 percent, from 5.9 percent
China’s industrial output grew at the slowest rate in 17 years Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: afp, getty images
Keywords: news, cnbc, companies, grew, investment, slowest, rose, expected, rate, sales, data, growth, rise, output, industrial, chinas, 17


China's industrial output grew at the slowest rate in 17 years

China’s industrial output grew 5.3 percent in the first two months of this year, the slowest pace of expansion in 17 years, official data showed on Thursday.

But fixed-asset investment rose 6.1 percent, while retail sales rose 8.2 percent, both more than expected.

Analysts polled by Reuters had predicted industrial output growth would slow to 5.5 percent in January-February from December’s 5.7 percent gain.

Investment growth had been expected to edge up slightly to 6.0 percent, from 5.9 percent in 2018.

Private-sector fixed-asset investment, which accounts for about 60 percent of overall investment in China, rose 7.5 percent in the same period, compared with an 8.7 percent rise in 2018, data from the National Bureau of Statistics showed.

Retail sales had been expected to rise 8.1 percent, easing marginally from December’s 8.2 percent pace.

China combines January and February activity data in an attempt to smooth distortions created by the long Lunar New Year holidays early each year, but some analysts say a clearer picture of the economy may not emerge first-quarter data is released in April.

China’s economic growth cooled to 6.6 percent last year, the slowest in nearly three decades, and it is expected to lose more momentum in the next few months.

Beijing is rolling out more support measures to avert a sharper slowdown, but many analysts do not expect activity to convincingly bottom out until summer.


Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: afp, getty images
Keywords: news, cnbc, companies, grew, investment, slowest, rose, expected, rate, sales, data, growth, rise, output, industrial, chinas, 17


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Asia markets: Brexit deal, pound and China economic data in focus

Asia Pacific markets traded mixed on Thursday after data showed growth in China’s industrial output fell. Overnight, British lawmakers rejected the idea of leaving the European Union without a Brexit deal in place. The Nikkei 225 in Japan gave up its gains to finish flat at 21,287.02 while the Topix index fell 0.24 percent to 1,588.29. Data on Thursday showed China’s industrial output growth fell to a 17-year low in the first two months of the year, according to Reuters. The on-shore yuan traded


Asia Pacific markets traded mixed on Thursday after data showed growth in China’s industrial output fell. Overnight, British lawmakers rejected the idea of leaving the European Union without a Brexit deal in place. The Nikkei 225 in Japan gave up its gains to finish flat at 21,287.02 while the Topix index fell 0.24 percent to 1,588.29. Data on Thursday showed China’s industrial output growth fell to a 17-year low in the first two months of the year, according to Reuters. The on-shore yuan traded
Asia markets: Brexit deal, pound and China economic data in focus Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: saheli roy choudhury, toshifumi kitamura, afp, getty images
Keywords: news, cnbc, companies, markets, fell, economic, china, asia, showed, midpoint, data, growth, brexit, focus, deal, traded, pound, output, industrial, chinas, index, yuan


Asia markets: Brexit deal, pound and China economic data in focus

Asia Pacific markets traded mixed on Thursday after data showed growth in China’s industrial output fell. Overnight, British lawmakers rejected the idea of leaving the European Union without a Brexit deal in place.

The Nikkei 225 in Japan gave up its gains to finish flat at 21,287.02 while the Topix index fell 0.24 percent to 1,588.29.

In South Korea, the Kospi wavered between gains and losses to close up 0.34 percent at 2,155.68. Hong Kong’s Hang Seng Index was down 0.22 percent in afternoon trade.

Chinese mainland shares withdrew as the Shanghai composite fell 1.2 percent to 2,990.68 while the Shenzhen composite tumbled 2.311 percent.

Data on Thursday showed China’s industrial output growth fell to a 17-year low in the first two months of the year, according to Reuters. That further pointed to an economic slowdown in the world’s second-largest economy. But investments picked up pace as the government fast-tracked more road and rail projects, the news agency added.

Beijing has already pledged hundreds of billions of dollars in tax cuts and infrastructure spending to support the flagging economy.

The on-shore yuan traded at 6.7134 to the dollar at 2:44 p.m. HK/SIN after the People’s Bank of China set the day’s yuan midpoint at 6.7009. China’s central bank allows the currency exchange rate to rise or fall 2 percent from the midpoint rate.

Australia’s benchmark ASX 200 closed up 0.3 percent at 6,179.60.


Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: saheli roy choudhury, toshifumi kitamura, afp, getty images
Keywords: news, cnbc, companies, markets, fell, economic, china, asia, showed, midpoint, data, growth, brexit, focus, deal, traded, pound, output, industrial, chinas, index, yuan


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GE will be transparent about challenges in its turnaround plan, CEO Larry Culp says

General Electric will be open about its struggles and the goals it expects to achieve in the company’s turnaround plan, CEO Larry Culp told CNBC Thursday. Culp, who became head of the company last September, said he studied the company for years and the top priority is to strengthen its balance sheet. “We want to strengthen the balance sheet and set our businesses up to play and win,” Culp said. “We’ve been very clear about our intent to reduce both the leverage on our industrial balance sheet a


General Electric will be open about its struggles and the goals it expects to achieve in the company’s turnaround plan, CEO Larry Culp told CNBC Thursday. Culp, who became head of the company last September, said he studied the company for years and the top priority is to strengthen its balance sheet. “We want to strengthen the balance sheet and set our businesses up to play and win,” Culp said. “We’ve been very clear about our intent to reduce both the leverage on our industrial balance sheet a
GE will be transparent about challenges in its turnaround plan, CEO Larry Culp says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: tyler clifford
Keywords: news, cnbc, companies, ceo, transparent, strengthen, larry, culp, industrial, ge, balance, turnaround, challenges, company, billion, leverage, gonna, sheet, plan


GE will be transparent about challenges in its turnaround plan, CEO Larry Culp says

General Electric will be open about its struggles and the goals it expects to achieve in the company’s turnaround plan, CEO Larry Culp told CNBC Thursday.

“I think what we’re gonna try to do, frankly, is to share with people in as transparent a way as we possibly can, what those issues are … and the plan that we have,” he said in a sit-down interview with “Mad Money’s” Jim Cramer. “But it will take– time. And we don’t wanna sugarcoat this.”

The industrial conglomerate, which once donned the title of America’s most valuable company, has faced debt and management problems for some time. Culp, who became head of the company last September, said he studied the company for years and the top priority is to strengthen its balance sheet.

GE has made moves to sell off $25 billion worth of assets in GE Capital.

“We want to strengthen the balance sheet and set our businesses up to play and win,” Culp said. “We’ve been very clear about our intent to reduce both the leverage on our industrial balance sheet and at GE Capital.”

The chief said his company will have access to “the better part of $40 billion of proceeds” after Danaher’s $21.4 billion acquisition of GE’s biopharmaceutical business goes through. Culp also said he anticipates monetizing GE’s stake in Baker Hughes and other deals.

“There’s a lot of capital there that we’re gonna be able to put to use to bring down the leverage on the industrial balance sheet,” he said. “Will it work on the capital side in a similar fashion? We have $10 billion of dispositions planned this year to continue to bring the leverage down.”


Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: tyler clifford
Keywords: news, cnbc, companies, ceo, transparent, strengthen, larry, culp, industrial, ge, balance, turnaround, challenges, company, billion, leverage, gonna, sheet, plan


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General Electric shares plummet—Jim Cramer and other experts react to the drop

General Electric shares continued to plummet Wednesday after the company said this week that its industrial unit would be cash flow negative for 2019. The stock took another hit after renowned GE analyst Stephen Tusa doubled down on his scathing call on the industrial giant. Shares of GE fell more than 8 percent in early Wednesday trading before regaining some ground. All we wanted to figure out was how bad it really was versus how bad it was. And I don’t really care if it was 50 megaton or 70 m


General Electric shares continued to plummet Wednesday after the company said this week that its industrial unit would be cash flow negative for 2019. The stock took another hit after renowned GE analyst Stephen Tusa doubled down on his scathing call on the industrial giant. Shares of GE fell more than 8 percent in early Wednesday trading before regaining some ground. All we wanted to figure out was how bad it really was versus how bad it was. And I don’t really care if it was 50 megaton or 70 m
General Electric shares plummet—Jim Cramer and other experts react to the drop Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: lizzy gurdus, michael nagle, bloomberg, getty images, nicolas asfouri, afp, luke sharrett, kcna, thomas barwick getty images, source
Keywords: news, cnbc, companies, stock, shares, really, plummetjim, drop, think, unit, electric, bad, cramer, experts, ge, general, culps, power, industrial, react, weve


General Electric shares plummet—Jim Cramer and other experts react to the drop

General Electric shares continued to plummet Wednesday after the company said this week that its industrial unit would be cash flow negative for 2019. The stock took another hit after renowned GE analyst Stephen Tusa doubled down on his scathing call on the industrial giant.

Tusa, a well-known J.P. Morgan research analyst with a strong track record on GE, wrote in a note to investors that his $6 price target for the stock “looks generous” now, calling CEO Larry Culp’s warnings about 2019 and GE’s struggling power unit “worse than even we expected.” He also said the company’s prized aviation finance business is “already in liquidation mode.”

In another note Wednesday, Tusa reiterated those calls, arguing that as long as Wall Street continues to say GE’s power unit isn’t that bad, “we don’t think the stock can bottom.”

Shares of GE fell more than 8 percent in early Wednesday trading before regaining some ground. Here’s what three experts think of the drop:

•CNBC’s Jim Cramer, host of “Mad Money,” was flabbergasted, saying on “Squawk on the Street” that Culp’s announcements felt like someone dropping a bomb on his head: “I went out with a group of portfolio managers last night. All we wanted to figure out was how bad it really was versus how bad it was. […] I mean, come on. You dropped a bomb on my head. And I don’t really care if it was 50 megaton or 70 megaton, but it was really sobering.”

•Tim Seymour, chief investment officer of Seymour Asset Management, said on “Fast Money” that he had more confidence in Culp’s long-term vision: “I think things are in a very different place, and I think Larry Culp is giving people some sense of confidence that, while it doesn’t turn around overnight, we see the pathway to, call it normalcy, on the fiscal side, not cutting these power deals that are lost leaders for the sake of cutting deals.”

•Nicholas Heymann, a William Blair & Co. analyst who covers GE, also harbored some hope for the struggling industrial giant, telling “Squawk Box” that while one-time charges and costs tied to the power business would continue to weigh on GE, the next few years will likely see improvement: “We’ve got organic growth, [a] smaller company because we’ve been divesting assets, we’ve got margins improving, there’s operating cash flow from continuing [operations], and then you’ve got all these legacy issues. And then [some of] those legacy issues will still … be there in 2020, but they’ll come down, and this rig’ll start rolling.”


Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: lizzy gurdus, michael nagle, bloomberg, getty images, nicolas asfouri, afp, luke sharrett, kcna, thomas barwick getty images, source
Keywords: news, cnbc, companies, stock, shares, really, plummetjim, drop, think, unit, electric, bad, cramer, experts, ge, general, culps, power, industrial, react, weve


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GE shares tumble as CEO Culp says cash flow will be negative in 2019, power unit to struggle more

General Electric CEO Larry Culp said at a J.P. Morgan conference on Tuesday that the company’s industrial free cash flow “in 2019 will be negative.” The CEO was speaking with J.P. Morgan analyst Stephen Tusa at the firm’s aviation, transportation and industrials conference in New York City. Free cash flow is a financial term defined as money left over after a company pays for operating expenses and capital spending and is often used as a gauge of efficiency. GE’s industrial free cash flow is a k


General Electric CEO Larry Culp said at a J.P. Morgan conference on Tuesday that the company’s industrial free cash flow “in 2019 will be negative.” The CEO was speaking with J.P. Morgan analyst Stephen Tusa at the firm’s aviation, transportation and industrials conference in New York City. Free cash flow is a financial term defined as money left over after a company pays for operating expenses and capital spending and is often used as a gauge of efficiency. GE’s industrial free cash flow is a k
GE shares tumble as CEO Culp says cash flow will be negative in 2019, power unit to struggle more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: michael sheetz
Keywords: news, cnbc, companies, shares, cash, culp, ceo, industrial, tumble, tusa, struggle, negative, free, morgan, flow, ges, ge, jp, unit, power


GE shares tumble as CEO Culp says cash flow will be negative in 2019, power unit to struggle more

General Electric CEO Larry Culp said at a J.P. Morgan conference on Tuesday that the company’s industrial free cash flow “in 2019 will be negative.”

GE shares closed down 4.7 percent at $9.89 after Culp’s comment. The CEO was speaking with J.P. Morgan analyst Stephen Tusa at the firm’s aviation, transportation and industrials conference in New York City.

Free cash flow is a financial term defined as money left over after a company pays for operating expenses and capital spending and is often used as a gauge of efficiency. GE’s industrial free cash flow is a key measure watched by investors.

GE generated $4.5 billion in industrial free cash flow last year. Culp is working on turning around GE’s fortunes as he focuses on improving the company’s cash generation, as well as cutting costs.

“If we’re going from $4.5 billion in 2018 to what I’m framing as negative territory in 2019 … it’s really a combination of operational pressure, power … renewables, and then the non-operational pressures that I’m calling ‘policy,'” Culp said.

Tusa is widely followed on Wall Street for his work covering GE. Ahead of his meeting with Culp, the J.P. Morgan analyst warned investors that GE’s prized aviation financing and leasing business is “already in liquidation mode” and has weakening earnings that are “masked by gains.”

“You’ve got a commitment from me and the senior team to continue to improve our disclosures. Full stop,” Culp told Tusa. “We highlight restructuring in a host of different ways but what I’d like to have it be is more consistent.”

Culp also believes GE’s battered power business will struggle even more this year than last year, as he said the company expects “an even greater level of negative free cash” in the division “as we work through these issues.” He said GE power will continue to face challenges for “a couple of years” more.

“We know power is in a turnaround mode and that’s not going to be a quick turnaround by any stretch,” Culp said. “It’s going to be a few years before we can call the end of that.”

Tusa asked Culp about the company’s issues with its line of gas-fired power turbines, called H-class turbines.

“We had an oxidation issue that created cracking … we’ve upgraded about 23 of the 33” turbines in the operation, Culp said.

Tusa both began and ended the conversation with Culp by talking about his admiration for the CEO.

“People ask me all the time if you hate me or not … anything you want to say on that?” Tusa asked.

“As I’ve told my daughter: We’re friends,” Culp said.


Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: michael sheetz
Keywords: news, cnbc, companies, shares, cash, culp, ceo, industrial, tumble, tusa, struggle, negative, free, morgan, flow, ges, ge, jp, unit, power


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Why Davos thinks science and tech are better tools for change

The rapidly changing nature of the world today, where technology is shifting power from governments to individuals, was a common theme at this year’s Davos — as was the importance of science and technology. Davos’ main theme of Globalization 4.0 focused on how new technologies from the Fourth Industrial Revolution are rapidly changing the way we live and work on a global scale. A World Economic Forum study predicts automation will eliminate 75 million jobs, but create 133 million new jobs. Given


The rapidly changing nature of the world today, where technology is shifting power from governments to individuals, was a common theme at this year’s Davos — as was the importance of science and technology. Davos’ main theme of Globalization 4.0 focused on how new technologies from the Fourth Industrial Revolution are rapidly changing the way we live and work on a global scale. A World Economic Forum study predicts automation will eliminate 75 million jobs, but create 133 million new jobs. Given
Why Davos thinks science and tech are better tools for change Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13
Keywords: news, cnbc, companies, technology, tech, world, theme, science, trust, technologies, society, change, tools, better, industrial, thinks, create, davos


Why Davos thinks science and tech are better tools for change

The rapidly changing nature of the world today, where technology is shifting power from governments to individuals, was a common theme at this year’s Davos — as was the importance of science and technology. Davos’ main theme of Globalization 4.0 focused on how new technologies from the Fourth Industrial Revolution are rapidly changing the way we live and work on a global scale.

Just like previous industrial revolutions, the Fourth Industrial Revolution will create a new technology-based economy that will render some existing jobs redundant, but also create new roles and industries. A World Economic Forum study predicts automation will eliminate 75 million jobs, but create 133 million new jobs.

Given the substantial disruption that such a change will cause, the optimism and trust in technology shown by those responding to the MHI poll is even more important. “Trust is very important,” said Lars Rebien Sorensen, chairman of the board of directors at Novo Nordisk Foundation, speaking at a Davos session on the future of science and technology in society. “Some new technologies are not understood by the public. We have to convince them about the benefits to society of an individual technology.”


Company: cnbc, Activity: cnbc, Date: 2019-02-13
Keywords: news, cnbc, companies, technology, tech, world, theme, science, trust, technologies, society, change, tools, better, industrial, thinks, create, davos


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Why Davos thinks science and tech are better tools for change

The rapidly changing nature of the world today, where technology is shifting power from governments to individuals, was a common theme at this year’s Davos — as was the importance of science and technology. Davos’ main theme of Globalization 4.0 focused on how new technologies from the Fourth Industrial Revolution are rapidly changing the way we live and work on a global scale. A World Economic Forum study predicts automation will eliminate 75 million jobs, but create 133 million new jobs. Given


The rapidly changing nature of the world today, where technology is shifting power from governments to individuals, was a common theme at this year’s Davos — as was the importance of science and technology. Davos’ main theme of Globalization 4.0 focused on how new technologies from the Fourth Industrial Revolution are rapidly changing the way we live and work on a global scale. A World Economic Forum study predicts automation will eliminate 75 million jobs, but create 133 million new jobs. Given
Why Davos thinks science and tech are better tools for change Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13
Keywords: news, cnbc, companies, create, technology, society, tools, better, tech, davos, science, change, world, trust, theme, industrial, technologies, thinks


Why Davos thinks science and tech are better tools for change

The rapidly changing nature of the world today, where technology is shifting power from governments to individuals, was a common theme at this year’s Davos — as was the importance of science and technology. Davos’ main theme of Globalization 4.0 focused on how new technologies from the Fourth Industrial Revolution are rapidly changing the way we live and work on a global scale.

Just like previous industrial revolutions, the Fourth Industrial Revolution will create a new technology-based economy that will render some existing jobs redundant, but also create new roles and industries. A World Economic Forum study predicts automation will eliminate 75 million jobs, but create 133 million new jobs.

Given the substantial disruption that such a change will cause, the optimism and trust in technology shown by those responding to the MHI poll is even more important. “Trust is very important,” said Lars Rebien Sorensen, chairman of the board of directors at Novo Nordisk Foundation, speaking at a Davos session on the future of science and technology in society. “Some new technologies are not understood by the public. We have to convince them about the benefits to society of an individual technology.”


Company: cnbc, Activity: cnbc, Date: 2019-02-13
Keywords: news, cnbc, companies, create, technology, society, tools, better, tech, davos, science, change, world, trust, theme, industrial, technologies, thinks


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UAE energy minister and Siemens CEO agree it’s time for the US to move on from coal

Energy industry leaders issued calls for a greater commitment to developing renewable energy sources during the 2019 World Government Summit in Dubai — and some honed in specifically on the U.S. coal industry as an obstacle to those goals. Siemens CEO Joe Kaeser and United Arab Emirates Energy Minister Suhail al-Mazrouei criticized coal consumption in the U.S., stressing that it was time to move on to cleaner fuel sources and a more diversified energy mix. “What we need from the U.S. is lower co


Energy industry leaders issued calls for a greater commitment to developing renewable energy sources during the 2019 World Government Summit in Dubai — and some honed in specifically on the U.S. coal industry as an obstacle to those goals. Siemens CEO Joe Kaeser and United Arab Emirates Energy Minister Suhail al-Mazrouei criticized coal consumption in the U.S., stressing that it was time to move on to cleaner fuel sources and a more diversified energy mix. “What we need from the U.S. is lower co
UAE energy minister and Siemens CEO agree it’s time for the US to move on from coal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: natasha turak, mandel ngan, afp, getty images, seong joon cho, bloomberg
Keywords: news, cnbc, companies, kaeser, industrial, siemens, minister, gas, energy, world, sources, industry, coal, ceo, uae, think, united, agree


UAE energy minister and Siemens CEO agree it's time for the US to move on from coal

Energy industry leaders issued calls for a greater commitment to developing renewable energy sources during the 2019 World Government Summit in Dubai — and some honed in specifically on the U.S. coal industry as an obstacle to those goals.

Siemens CEO Joe Kaeser and United Arab Emirates Energy Minister Suhail al-Mazrouei criticized coal consumption in the U.S., stressing that it was time to move on to cleaner fuel sources and a more diversified energy mix.

“What we need from the U.S. is lower coal and higher gas and higher contributions from gas and solar,” al-Mazrouei told CNBC’s Hadley Gamble during a panel discussion on the future of energy.

“That is what the world expects from leading industrial country like the United States. And I think there are good signs of that, it’s happening no matter how we look at it.”

Kaeser, CEO of German industrial conglomerate Siemens, had stronger words for the Donald Trump administration’s aversion to climate change legislation and staunch promotion of the coal industry, though refrained from criticizing the president directly.

“The U.S. has more than 100 gigawatts of coal-fired power plants, and they’ve got abundant gas right around corner, whether it’s shale or natural gas — so there is no point in complaining about climate change, whether people think it’s invented by the Chinese or not,” Kaeser said, when asked about political obstacles to cleaner energy goals.


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: natasha turak, mandel ngan, afp, getty images, seong joon cho, bloomberg
Keywords: news, cnbc, companies, kaeser, industrial, siemens, minister, gas, energy, world, sources, industry, coal, ceo, uae, think, united, agree


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Siemens misses Q1 profit forecast as power problems persist

Siemens reported weaker-than-expected industrial profit during its first quarter, the German industrial group said on Wednesday, adding it still expected to complete its mega rail merger with France’s Alstom in the first half of this year. Siemens reported a 6 percent fall in adjusted operating profit for its industrial business during the three months ended Dec. 31 to 2.07 billion euros ($2.37 billion), missing the forecast for 2.15 billion euros in a Reuters poll as profits at its power busine


Siemens reported weaker-than-expected industrial profit during its first quarter, the German industrial group said on Wednesday, adding it still expected to complete its mega rail merger with France’s Alstom in the first half of this year. Siemens reported a 6 percent fall in adjusted operating profit for its industrial business during the three months ended Dec. 31 to 2.07 billion euros ($2.37 billion), missing the forecast for 2.15 billion euros in a Reuters poll as profits at its power busine
Siemens misses Q1 profit forecast as power problems persist Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-30
Keywords: news, cnbc, companies, problems, power, q1, persist, profit, operating, misses, reported, business, industrial, billion, profits, forecast, euros, quarter, siemens


Siemens misses Q1 profit forecast as power problems persist

Siemens reported weaker-than-expected industrial profit during its first quarter, the German industrial group said on Wednesday, adding it still expected to complete its mega rail merger with France’s Alstom in the first half of this year.

Siemens reported a 6 percent fall in adjusted operating profit for its industrial business during the three months ended Dec. 31 to 2.07 billion euros ($2.37 billion), missing the forecast for 2.15 billion euros in a Reuters poll as profits at its power business plunged.

Its Power and Gas business, which has been hit by collapsing demand for giant turbines as the global energy industry shifts towards renewable sources like wind and solar and away from fossil fuel power plants, suffered a 50 percent drop in operating profits during the quarter.


Company: cnbc, Activity: cnbc, Date: 2019-01-30
Keywords: news, cnbc, companies, problems, power, q1, persist, profit, operating, misses, reported, business, industrial, billion, profits, forecast, euros, quarter, siemens


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Cramer Remix: ‘It’s too soon’ to buy even this top-notch industrial stock

The current macroeconomic environment makes it difficult for CNBC’s Jim Cramer to recommend even a best-of-breed stock like Emerson Electric, he said Wednesday after a solid trading session in the stock market. The bull thesis argues that Emerson’s energy exposure could eventually benefit it once oil prices bottom, and that its top-notch management should be able to weather any oncoming storms while boosting margins. Even though his charitable trust used to own shares of Emerson, Cramer, host of


The current macroeconomic environment makes it difficult for CNBC’s Jim Cramer to recommend even a best-of-breed stock like Emerson Electric, he said Wednesday after a solid trading session in the stock market. The bull thesis argues that Emerson’s energy exposure could eventually benefit it once oil prices bottom, and that its top-notch management should be able to weather any oncoming storms while boosting margins. Even though his charitable trust used to own shares of Emerson, Cramer, host of
Cramer Remix: ‘It’s too soon’ to buy even this top-notch industrial stock Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-23  Authors: elizabeth gurdus, robert nickelsberg, getty images, seth wenig, adam jeffery
Keywords: news, cnbc, companies, need, prices, emerson, remix, buy, topnotch, industrial, thesis, stock, oil, soon, cramer, exposure, recommend


Cramer Remix: 'It's too soon' to buy even this top-notch industrial stock

The current macroeconomic environment makes it difficult for CNBC’s Jim Cramer to recommend even a best-of-breed stock like Emerson Electric, he said Wednesday after a solid trading session in the stock market.

An old-line manufacturer involved in the industrial automation, fluid handling, climate control and oil and gas spaces, Emerson has been at the center of a bull-bear dispute on Wall Street.

The bull thesis argues that Emerson’s energy exposure could eventually benefit it once oil prices bottom, and that its top-notch management should be able to weather any oncoming storms while boosting margins. The bear thesis, however, forecasts slowdowns in Emersons automation, energy and China-tied businesses and increased uncertainty in 2019.

Even though his charitable trust used to own shares of Emerson, Cramer, host of “Mad Money,” sympathized with the bear case.

“A lot of things need to go right for this stock to make sense — we need a deal with China, we need oil prices to rebound, we need the global economy to reaccelerate,” he said. “If Emerson were genuinely cheap, … I’d feel more confident, but it sells for 15 times next year’s earnings estimates. That’s a slight premium to the average stock in the S&P 500.”

“Between the oil exposure and the China exposure, I think it’s too soon to buy an industrial like Emerson Electric, even though I like this company so much, even as it’s one of the best of the best,” Cramer concluded. “It just swings too much with the on-again, off-again trade talks. I recommend staying on the sidelines for now. Emerson reports on Feb. 5. I hope they tell a good story, but hope is not part of the equation.”


Company: cnbc, Activity: cnbc, Date: 2019-01-23  Authors: elizabeth gurdus, robert nickelsberg, getty images, seth wenig, adam jeffery
Keywords: news, cnbc, companies, need, prices, emerson, remix, buy, topnotch, industrial, thesis, stock, oil, soon, cramer, exposure, recommend


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