China plans a solar power play in space that NASA abandoned decades ago

Now the studies conducted on feasibility are decades old and simply no longer relevant to the discussion, Mankins said. “We no longer need a stupendously huge factory in space and hundreds of astronauts to put it together. Thin film solar panels are lightweight, which reduces launch cost. Thin film may also have a structural advantage in space — the lighter weight is no issue in the zero-gravity environment. In India and in Europe scientists are working on additional concepts for solar based pow


Now the studies conducted on feasibility are decades old and simply no longer relevant to the discussion, Mankins said. “We no longer need a stupendously huge factory in space and hundreds of astronauts to put it together. Thin film solar panels are lightweight, which reduces launch cost. Thin film may also have a structural advantage in space — the lighter weight is no issue in the zero-gravity environment. In India and in Europe scientists are working on additional concepts for solar based pow
China plans a solar power play in space that NASA abandoned decades ago Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: eric rosenbaum, donovan russo, nasa, getty images news, getty images, mark hopkins, national space society, sps-alpha concept, image provided john c mankins, -john mankins
Keywords: news, cnbc, companies, tech, power, china, abandoned, cost, ago, launch, issue, decades, weight, huge, play, thing, solar, nasa, space, plans, weighing


China plans a solar power play in space that NASA abandoned decades ago

Mankins said this view is becoming quickly outdated due to a dramatic lowering of rocket launch costs through efforts funded by billionaires including Tesla founder Elon Musk’s SpaceX and Amazon founder Jeff Bezos’s Blue Origin. Meanwhile, developments in robotics and modular-manufacturing — being able to produce many small modular pieces to make a whole rather than one huge piece of equipment — could lead to cost-effective ways to construct these projects in orbit without having to build a multi-billion-dollar factory in space. He referenced a major review conducted by the federal government in 1981 that when looked at in today’s dollars would have cost up to $1 trillion to deliver the first kilowatt/hour of solar from space. “The whole program was killed in the U.S.,” he said.

Now the studies conducted on feasibility are decades old and simply no longer relevant to the discussion, Mankins said. “Whenever a gray-haired senior scientist tells you something can be done, they are almost certainly right. When they tell you it can’t be done, he or she may very well be wrong,” he said, referencing an adage by science fiction author Arthur C. Clarke from his famous “three laws.”

“We have had a revolution in robotics, drones and warehouse robots that didn’t exist. Previously, the whole thing had to be built as one huge system, an enormous thing like a aircraft carrier shipyard in space to fabricate one enormous object weighing 10,000 tonnes rather than 10 million small units each weighing a few pounds that can use mass production,” he said. “We no longer need a stupendously huge factory in space and hundreds of astronauts to put it together. The whole world, other than the space program, has moved forward to mass-produced modular network devices. That’s the way you would do it, and it was unthinkable 40 years ago, but suddenly it is physically, technically and economically doable.”

American scientists are tinkering with the idea to this day. A group at the California Institute of Technology claims to have created a prototype that is able to capture and transmit solar energy from space, using light weight tiles, work sponsored by a $17.5 million research agreement with Northrop Grumman. Weight has always been a key issue to resolve because of the cost of rocket launches being based on weight of cargo. Thin film solar panels are lightweight, which reduces launch cost. Though as launch costs come down it may be less of a make-or-break issue. Thin film may also have a structural advantage in space — the lighter weight is no issue in the zero-gravity environment.

Other nations are exploring the concept. In India and in Europe scientists are working on additional concepts for solar based power in space. Japan’s JAXA, an aerospace exploration agency, has been researching how to overcome technological barriers, such as microwave wireless power transmission tech and robotic assembly tech.


Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: eric rosenbaum, donovan russo, nasa, getty images news, getty images, mark hopkins, national space society, sps-alpha concept, image provided john c mankins, -john mankins
Keywords: news, cnbc, companies, tech, power, china, abandoned, cost, ago, launch, issue, decades, weight, huge, play, thing, solar, nasa, space, plans, weighing


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GE shares rebound as CEO Culp sees power business bouncing back next year: ‘Game on’

General Electric shares rose in premarket trading as CEO Larry Culp gave investors on Thursday an upbeat long term outlook on the company’s struggling power business. “We will have a greater level of negative cash flow in [the power] business this year,” Culp told CNBC’s Morgan Brennan. GE’s power business saw negative cash flow of $2.7 billion in 2018 and Culp warned that “it will be worse” in 2019. “From there will get significantly better in 2020, and we expect positive free cash flow in 2021


General Electric shares rose in premarket trading as CEO Larry Culp gave investors on Thursday an upbeat long term outlook on the company’s struggling power business. “We will have a greater level of negative cash flow in [the power] business this year,” Culp told CNBC’s Morgan Brennan. GE’s power business saw negative cash flow of $2.7 billion in 2018 and Culp warned that “it will be worse” in 2019. “From there will get significantly better in 2020, and we expect positive free cash flow in 2021
GE shares rebound as CEO Culp sees power business bouncing back next year: ‘Game on’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: michael sheetz
Keywords: news, cnbc, companies, game, turbines, rebound, companys, ge, bouncing, negative, power, business, culp, shares, ceo, flow, cash, sees


GE shares rebound as CEO Culp sees power business bouncing back next year: 'Game on'

General Electric shares rose in premarket trading as CEO Larry Culp gave investors on Thursday an upbeat long term outlook on the company’s struggling power business.

“We will have a greater level of negative cash flow in [the power] business this year,” Culp told CNBC’s Morgan Brennan.

GE’s power business saw negative cash flow of $2.7 billion in 2018 and Culp warned that “it will be worse” in 2019. But it’s “game on” this year, Culp said, as he aims to get things back on track.

“From there will get significantly better in 2020, and we expect positive free cash flow in 2021,” Culp said.

GE shares rose 3.8 percent in trading.

At the core of GE’s two-year stock fall is the company’s failure to forecast a downturn in demand for its turbines, the titanic machinery that powers natural gas and coal-fired power plants. GE ended up with little demand for power plant equipment. GE forecasts the market for gas-powered turbines will remain stagnant through 2020.

“Power is in a serious turnaround mode. This is not going to be quick, by any stretch,” Culp said on the company’s conference call on Thursday.

GE power was also hit by an issue with the next generation turbines the company had recently put into the field. While the an oxidization issue “created cracking” in the turbines, Culp said last week that GE has now “upgraded about 23 of the 33” turbines in operation.

Even as the business continues to struggle, Culp pointed to the years ahead. GE said in its outlook that power will be “significant better but negative” in 2020.


Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: michael sheetz
Keywords: news, cnbc, companies, game, turbines, rebound, companys, ge, bouncing, negative, power, business, culp, shares, ceo, flow, cash, sees


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California leads the way as US installs more than 10 gigawatts of solar power in 2018

The U.S. installed 10.6 gigawatts (GW) of solar photovoltaic capacity in 2018, according to a new report from Wood Mackenzie Power & Renewables and the Solar Energy Industries Association (SEIA). Photovoltaic refers to a way of directly converting light from the sun into electricity. “The total amount of solar installed in America is on track to more than double in the next five years, proving solar’s resiliency and its economic strength,” she said. The SEIA said that, for the U.S., total instal


The U.S. installed 10.6 gigawatts (GW) of solar photovoltaic capacity in 2018, according to a new report from Wood Mackenzie Power & Renewables and the Solar Energy Industries Association (SEIA). Photovoltaic refers to a way of directly converting light from the sun into electricity. “The total amount of solar installed in America is on track to more than double in the next five years, proving solar’s resiliency and its economic strength,” she said. The SEIA said that, for the U.S., total instal
California leads the way as US installs more than 10 gigawatts of solar power in 2018 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: anmar frangoul, george rose, getty images news, getty images
Keywords: news, cnbc, companies, installed, gw, capacity, photovoltaic, total, gigawatts, power, hopper, 2018, way, leads, installs, solar, california


California leads the way as US installs more than 10 gigawatts of solar power in 2018

The U.S. installed 10.6 gigawatts (GW) of solar photovoltaic capacity in 2018, according to a new report from Wood Mackenzie Power & Renewables and the Solar Energy Industries Association (SEIA).

This represents a 2 percent drop compared to 2017. In a statement Wednesday, the SEIA’s president and CEO, Abigail Ross Hopper, said the solar industry had experienced “growing pains in 2018” that were caused, in large part, by the imposition of tariffs on solar cells and modules. Photovoltaic refers to a way of directly converting light from the sun into electricity.

Ross Hopper went on to add that there was nevertheless reason for optimism. “The total amount of solar installed in America is on track to more than double in the next five years, proving solar’s resiliency and its economic strength,” she said. “It’s clear, this next decade is going to be one of significant growth.”

The SEIA said that, for the U.S., total installed photovoltaic capacity was expected to increase by 14 percent this year, with yearly installations hitting 15.8 GW in 2021.

Breaking the figures down by state, California once again led the way, installing over 3.3 GW of capacity, followed by Texas and North Carolina, which installed almost 996 and 907 megawatts respectively.

The U.S. is now home to over 64 GW of installed capacity, which is enough to power more than 12 million homes.


Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: anmar frangoul, george rose, getty images news, getty images
Keywords: news, cnbc, companies, installed, gw, capacity, photovoltaic, total, gigawatts, power, hopper, 2018, way, leads, installs, solar, california


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Facebook removed Elizabeth Warren’s ads calling for its breakup

Facebook removed some of Sen. Elizabeth Warren’s presidential campaign ads calling for breaking up the social media giant but later reinstated them after Politico reported on the take down. Warren’s ad was an extension of her call to “break up Big Tech,” which she announced in a Medium post published Friday. Facebook, Amazon, and Google,” Warren’s removed ads read, according to Politico. When the ads were taken down, Facebook reportedly replaced them with a message that said, “This ad was taken


Facebook removed some of Sen. Elizabeth Warren’s presidential campaign ads calling for breaking up the social media giant but later reinstated them after Politico reported on the take down. Warren’s ad was an extension of her call to “break up Big Tech,” which she announced in a Medium post published Friday. Facebook, Amazon, and Google,” Warren’s removed ads read, according to Politico. When the ads were taken down, Facebook reportedly replaced them with a message that said, “This ad was taken
Facebook removed Elizabeth Warren’s ads calling for its breakup Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-12  Authors: lauren feiner, tom williams, cq-roll call group, getty images
Keywords: news, cnbc, companies, taken, warrens, breakup, removed, calling, companies, power, elizabeth, social, facebook, facebooks, politico, ads


Facebook removed Elizabeth Warren's ads calling for its breakup

Facebook removed some of Sen. Elizabeth Warren’s presidential campaign ads calling for breaking up the social media giant but later reinstated them after Politico reported on the take down.

Warren’s ad was an extension of her call to “break up Big Tech,” which she announced in a Medium post published Friday. The Massachusetts Democrat wrote that companies with an annual global revenue of at least $25 billion should not be able to own a public online marketplace or platform and sell on that platform themselves. She also promised to take steps to unwind “anti-competitive mergers” including Facebook’s acquisitions of WhatsApp and Instagram.

“Three companies have vast power over our economy and our democracy. Facebook, Amazon, and Google,” Warren’s removed ads read, according to Politico. “We all use them. But in their rise to power, they’ve bulldozed competition, used our private information for profit, and tilted the playing field in their favor.”

When the ads were taken down, Facebook reportedly replaced them with a message that said, “This ad was taken down because it goes against Facebook’s advertising policies.”

In a statement, a Facebook spokesperson said the ads that featured Facebook’s logo were removed “because they violated our policies against use of our corporate logo,” but that they were being restored “in the interest of allowing robust debate.”

Warren said in a tweet that Facebook’s initial removal of her ads showed the platform’s outsize power.

“Curious why I think FB has too much power?” she tweeted Monday. “Let’s start with their ability to shut down a debate over whether FB has too much power. Thanks for restoring my posts. But I want a social media marketplace that isn’t dominated by a single censor. #BreakUpBigTech.”

Subscribe to CNBC on YouTube.

Watch: Government doesn’t have good track record on breaking up companies, says NYT’s Jim Stewart


Company: cnbc, Activity: cnbc, Date: 2019-03-12  Authors: lauren feiner, tom williams, cq-roll call group, getty images
Keywords: news, cnbc, companies, taken, warrens, breakup, removed, calling, companies, power, elizabeth, social, facebook, facebooks, politico, ads


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US tech firms fear China could be spying on them using power cords, report says

Fearing that China could be spying on them using power cords and plugs, several U.S. technology companies have asked their Taiwanese suppliers to shift production of some components out of the mainland, Nikkei Asian Review reported on Friday. The report cited unnamed executives from two Taiwanese companies: Lite-On Technology, a manufacturer of electronic parts, and Quanta Computer, a supplier of servers and data centers. Lite-On’s clients include Dell EMC, Hewlett-Packard and IBM, while Quanta


Fearing that China could be spying on them using power cords and plugs, several U.S. technology companies have asked their Taiwanese suppliers to shift production of some components out of the mainland, Nikkei Asian Review reported on Friday. The report cited unnamed executives from two Taiwanese companies: Lite-On Technology, a manufacturer of electronic parts, and Quanta Computer, a supplier of servers and data centers. Lite-On’s clients include Dell EMC, Hewlett-Packard and IBM, while Quanta
US tech firms fear China could be spying on them using power cords, report says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-08  Authors: yen nee lee, beebright, getty images
Keywords: news, cnbc, companies, quanta, components, report, power, taiwanese, china, firms, companies, technology, fear, cords, data, plugs, using, tech, spying, executives, nikkei


US tech firms fear China could be spying on them using power cords, report says

Fearing that China could be spying on them using power cords and plugs, several U.S. technology companies have asked their Taiwanese suppliers to shift production of some components out of the mainland, Nikkei Asian Review reported on Friday.

The report cited unnamed executives from two Taiwanese companies: Lite-On Technology, a manufacturer of electronic parts, and Quanta Computer, a supplier of servers and data centers. Lite-On’s clients include Dell EMC, Hewlett-Packard and IBM, while Quanta counts Google and Facebook among its customers, according to Nikkei.

The executives told Nikkei that some of their American clients — without specifying which companies — asked them to move out of China partly because of cyberespionage and cybersecurity risks. The U.S. tech firms were worried that even mundane components such as power plugs could be tapped by Beijing to access sensitive data, according to the report.

Lite-On and Quanta did not immediately respond to CNBC’s requests for comment.


Company: cnbc, Activity: cnbc, Date: 2019-03-08  Authors: yen nee lee, beebright, getty images
Keywords: news, cnbc, companies, quanta, components, report, power, taiwanese, china, firms, companies, technology, fear, cords, data, plugs, using, tech, spying, executives, nikkei


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US tech firms fear China could be spying on them using power cords, report says

Fearing that China could be spying on them using power cords and plugs, several U.S. technology companies have asked their Taiwanese suppliers to shift production of some components out of the mainland, Nikkei Asian Review reported on Friday. The report cited unnamed executives from two Taiwanese companies: Lite-On Technology, a manufacturer of electronic parts, and Quanta Computer, a supplier of servers and data centers. Lite-On’s clients include Dell EMC, Hewlett-Packard and IBM, while Quanta


Fearing that China could be spying on them using power cords and plugs, several U.S. technology companies have asked their Taiwanese suppliers to shift production of some components out of the mainland, Nikkei Asian Review reported on Friday. The report cited unnamed executives from two Taiwanese companies: Lite-On Technology, a manufacturer of electronic parts, and Quanta Computer, a supplier of servers and data centers. Lite-On’s clients include Dell EMC, Hewlett-Packard and IBM, while Quanta
US tech firms fear China could be spying on them using power cords, report says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-08  Authors: yen nee lee, beebright, getty images
Keywords: news, cnbc, companies, quanta, components, report, power, taiwanese, china, firms, companies, technology, fear, cords, data, plugs, using, tech, spying, executives, nikkei


US tech firms fear China could be spying on them using power cords, report says

Fearing that China could be spying on them using power cords and plugs, several U.S. technology companies have asked their Taiwanese suppliers to shift production of some components out of the mainland, Nikkei Asian Review reported on Friday.

The report cited unnamed executives from two Taiwanese companies: Lite-On Technology, a manufacturer of electronic parts, and Quanta Computer, a supplier of servers and data centers. Lite-On’s clients include Dell EMC, Hewlett-Packard and IBM, while Quanta counts Google and Facebook among its customers, according to Nikkei.

The executives told Nikkei that some of their American clients — without specifying which companies — asked them to move out of China partly because of cyberespionage and cybersecurity risks. The U.S. tech firms were worried that even mundane components such as power plugs could be tapped by Beijing to access sensitive data, according to the report.

Lite-On and Quanta did not immediately respond to CNBC’s requests for comment.


Company: cnbc, Activity: cnbc, Date: 2019-03-08  Authors: yen nee lee, beebright, getty images
Keywords: news, cnbc, companies, quanta, components, report, power, taiwanese, china, firms, companies, technology, fear, cords, data, plugs, using, tech, spying, executives, nikkei


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Microsoft to buy energy from 74-megawatt solar power facility in North Carolina

Microsoft has signed a 15-year power purchase agreement for the energy produced by a 74-megawatt solar power facility in North Carolina. The Wilkinson Solar Energy Center will be built, owned and operated by Invenergy, the companies said in a joint announcement Wednesday. The deal means that Microsoft’s renewable energy portfolio will stand at more than 1.3 gigawatts, the statement added. Microsoft is one of many big tech companies turning to renewable sources of energy. At the time, the busines


Microsoft has signed a 15-year power purchase agreement for the energy produced by a 74-megawatt solar power facility in North Carolina. The Wilkinson Solar Energy Center will be built, owned and operated by Invenergy, the companies said in a joint announcement Wednesday. The deal means that Microsoft’s renewable energy portfolio will stand at more than 1.3 gigawatts, the statement added. Microsoft is one of many big tech companies turning to renewable sources of energy. At the time, the busines
Microsoft to buy energy from 74-megawatt solar power facility in North Carolina Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-07  Authors: anmar frangoul, vesa moilanen, afp, getty images
Keywords: news, cnbc, companies, power, solar, energy, microsoft, sustainability, 74megawatt, renewable, microsofts, clean, north, buy, carolina, facility, companies


Microsoft to buy energy from 74-megawatt solar power facility in North Carolina

Microsoft has signed a 15-year power purchase agreement for the energy produced by a 74-megawatt solar power facility in North Carolina.

The Wilkinson Solar Energy Center will be built, owned and operated by Invenergy, the companies said in a joint announcement Wednesday.

The deal means that Microsoft’s renewable energy portfolio will stand at more than 1.3 gigawatts, the statement added.

The new facility is due to commence commercial operations in 2019, while it’s estimated that more than 500 jobs are set to be created during its construction.

“When we invest in renewable energy, we are investing in the future — enabling sustainable growth of our business, of the clean energy sector and the local communities that benefit economically from Microsoft’s commitment to sustainability,” Brian Janous, general manager of Energy and Sustainability at Microsoft, said Wednesday.

Microsoft is one of many big tech companies turning to renewable sources of energy.

In October 2017, for instance, Amazon announced that its Amazon Wind Farm Texas was operational. At the time, the business said the facility would add over 1 million megawatt hours of clean energy to the grid annually.


Company: cnbc, Activity: cnbc, Date: 2019-03-07  Authors: anmar frangoul, vesa moilanen, afp, getty images
Keywords: news, cnbc, companies, power, solar, energy, microsoft, sustainability, 74megawatt, renewable, microsofts, clean, north, buy, carolina, facility, companies


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Why Bezos and Microsoft are betting on this $10 trillion energy fix for the planet

Mowry said General Fusion has built all the components to create a reactor, but now it needs to develop a prototype, which will take five years. It will take more time after that to build full-scale plants that can be used to power entire cities. In partnership with MIT, it is creating magnets out of rare-Earth barium copper oxide, which is a recently commercialized superconducting material. “We need to design the next-generation machine … that can produce more fusion power than energy needed


Mowry said General Fusion has built all the components to create a reactor, but now it needs to develop a prototype, which will take five years. It will take more time after that to build full-scale plants that can be used to power entire cities. In partnership with MIT, it is creating magnets out of rare-Earth barium copper oxide, which is a recently commercialized superconducting material. “We need to design the next-generation machine … that can produce more fusion power than energy needed
Why Bezos and Microsoft are betting on this $10 trillion energy fix for the planet Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: bryan borzykowski, afp, getty images, general fusion, lockheed martin, -christofer mowry, ceo of general fusion
Keywords: news, cnbc, companies, trillion, mowry, betting, martin, planet, need, creating, fusion, fix, components, energy, power, microsoft, bezos, needs, reactor, mit


Why Bezos and Microsoft are betting on this $10 trillion energy fix for the planet

It’s still an open question as to if, and when, fusion can be commercialized. Mowry said General Fusion has built all the components to create a reactor, but now it needs to develop a prototype, which will take five years.

“Using a car analogy, we built an engine, the transmission and the wheels; now we have to put it together and drive it down the road at full size,” he said.

It will take more time after that to build full-scale plants that can be used to power entire cities. If this were football, Mowry said he’d be on the 25-yard line.

Other companies have made varying degrees of progress. For instance, Commonwealth Fusion Systems, a commercial enterprise spun off by MIT, is about seven years away from creating a more energy-efficient Tokamak reactor.

In partnership with MIT, it is creating magnets out of rare-Earth barium copper oxide, which is a recently commercialized superconducting material. Could this be the ticket?

“We need to design the next-generation machine … that can produce more fusion power than energy needed to heat it,” said Dr. Martin Greenwald, deputy director of the MIT Plasma Science and Fusion Center. “We think we can do that in a relatively short amount of time.”

Even when its components are created — it is currently in the R&D phase and likely won’t start building components for another two-and-a-half years, said Greenwald — it will still need to create a pilot plant to see if it works. Then it needs to commercialize it, he said.

Lockheed Martin, with its decades of engineering experience and government connections, hopes to unlock fusion’s power by creating a compact reactor that’s 10 times smaller than existing reactors. It will be so small that it will fit on the back of a truck, it says on its website.


Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: bryan borzykowski, afp, getty images, general fusion, lockheed martin, -christofer mowry, ceo of general fusion
Keywords: news, cnbc, companies, trillion, mowry, betting, martin, planet, need, creating, fusion, fix, components, energy, power, microsoft, bezos, needs, reactor, mit


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Don’t count out GE yet, cash flow problems are temporary: Analysts

After Culp’s comments Tuesday, J.P. Morgan analyst Stephen Tusa said his price target of $6 a share now “looks generous.” However, he believes the “cash flow drag is temporary.” Jim Corridore, director of industrials equity research at CFRA Research, thinks GE is moving in a positive direction and has valuable assets. He has a buy rating and $15 price target on the company’s stock. “Nobody should expect GE to be cash flow positive this year.


After Culp’s comments Tuesday, J.P. Morgan analyst Stephen Tusa said his price target of $6 a share now “looks generous.” However, he believes the “cash flow drag is temporary.” Jim Corridore, director of industrials equity research at CFRA Research, thinks GE is moving in a positive direction and has valuable assets. He has a buy rating and $15 price target on the company’s stock. “Nobody should expect GE to be cash flow positive this year.
Don’t count out GE yet, cash flow problems are temporary: Analysts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: michelle fox, akos stiller, bloomberg, getty images
Keywords: news, cnbc, companies, stock, week, problems, thinks, count, ge, analysts, share, price, temporary, target, flow, dont, power, cash


Don't count out GE yet, cash flow problems are temporary: Analysts

Shares of GE closed down 4.7 percent on the news Tuesday and dropped another 7.9 percent to close at $9.11 on Wednesday. After Culp’s comments Tuesday, J.P. Morgan analyst Stephen Tusa said his price target of $6 a share now “looks generous.”

Bergner, who has a buy rating on the stock but no price target, said GE still faces uncertainty with its power business and how it continues to restructure the company. However, he believes the “cash flow drag is temporary.”

“Investors do need to look out past the negative power period, into 2020 and 2021,” he said on “Power Lunch.” He thinks the stock could get back earning close to $1 per share, will have “better free cash flow conversion and private market value, which is how we look at it, upwards towards $20, high teens per share.”

Culp is in the process of trying to turn around GE’s fortunes by improving the company’s cash generation and cutting costs. In a letter to shareholders last week, he said the industrial conglomerate wants to rebuild around four businesses: power, renewable energy, aviation and health care. GE also announced last week that it is selling its biopharmaceutical business to Danaher.

Jim Corridore, director of industrials equity research at CFRA Research, thinks GE is moving in a positive direction and has valuable assets. He has a buy rating and $15 price target on the company’s stock.

“They have issues to work through, certainly, but they have a leader here who has shown that he’s willing to make tough decisions,” he said on “Power Lunch.” In fact, last year’s dividend cut to just a penny per share was “a strong indicator that the company will do whatever it needs to survive.”

That’s why he thinks it pays to be patient.

“Nobody should expect GE to be cash flow positive this year. Nobody should expect a quick turnaround. It didn’t take them one year to get into this mess. It’s not going to take them one year to get out,” Corridore said.

—CNBC’s Michael Sheetz contributed to this report.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: michelle fox, akos stiller, bloomberg, getty images
Keywords: news, cnbc, companies, stock, week, problems, thinks, count, ge, analysts, share, price, temporary, target, flow, dont, power, cash


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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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