GE Layoffs: General Electric Company to Cut 12000 Jobs

The logo of General Electric is seen at its plant in Baden Switzerland

The logo of General Electric is seen at its plant in Baden Switzerland

Butensky And Cohen Financial Security reported 70,863 shares. The firm has "Underperform" rating given on Tuesday, October 24 by Oppenheimer. Jefferies maintained American Electric Power Company, Inc. (NASDAQ:III) on Tuesday, August 8 with "Buy" rating.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Moreover, Underhill Investment Management Llc has 3.74% invested in the company for 58,395 shares. General Electric Co now has $155.58B valuation. 43,913,600 shares of the stock were exchanged, compared to its average volume of 45,110,766.

General Electric Company (NYSE:GE) is cutting 12,000 jobs in an effort to reduce costs. It has underperformed by 9.07% the S&P500. They expect $0.28 earnings per share, down 39.13% or $0.18 from last year's $0.46 per share. After $0.29 actual earnings per share reported by General Electric Company for the previous quarter, Wall Street now forecasts -3.45% negative EPS growth. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. Therefore 42% are positive. The firm has "Sell" rating given on Friday, July 22 by Standpoint Research. The stock of General Electric Company (NYSE:GE) earned "Buy" rating by Citigroup on Thursday, January 21. As per Monday, November 13, the company rating was maintained by Morgan Stanley. American Electric Power's quarterly revenue was down 12.8% compared to the same quarter past year. Finally, Argus cut their price target on shares of General Electric from $30.00 to $27.00 and set a "buy" rating for the company in a report on Monday, September 18th. The stock of General Electric Company (NYSE:GE) earned "Neutral" rating by Bank of America on Wednesday, April 26. Cowen restated a "hold" rating and issued a $19.00 price objective on shares of General Electric in a research report on Wednesday, November 8th. The stock was bought at an average cost of $18.24 per share, with a total value of $100,320.00. Its up 0.10, from 0.99 in 2017Q1. It improved, as 37 investors sold AEP shares while 255 reduced holdings. 72 funds opened positions while 245 raised stakes. Jnba Fincl Advisors holds 17,337 shares. Langenberg upgraded General Electric Company (NYSE:GE) rating on Monday, November 13. Citadel Advsrs Limited Liability Corporation has 698,078 shares. Westwood Il holds 0.04% or 10,500 shares. 71,701 were accumulated by Mirae Asset Glob Investments. American Electric Power Company, Inc. Private Ocean, a California-based fund reported 2,069 shares. Charter Trust Communication holds 0.03% or 3,925 shares. Adell Harriman & Carpenter reported 115,206 shares. Moreover, Hussman Strategic has 0.02% invested in American Electric Power Company, Inc.

Analysts await American Electric Power Company, Inc.

Conservative Arizona Rep. Trent Franks resigning
Franks was seen huddling with fellow Republicans on the floor of the House Thursday, in what appeared to be a prayer circle. Asked for comment as he left the floor, Franks said, "I'll let the statement speak for itself".

The near-20-percent job cut in the division that makes nuclear plant and electrical transmission components and steam turbines would contribute to a $3.5 billion cost-cutting exercise through the end of 2018.

Information Services Group, Inc. provides technology insights, market intelligence, and advisory services in the Americas, Europe, and the Asia Pacific. The company has a market cap of $154,016.23, a P/E ratio of 14.32, a P/E/G ratio of 1.92 and a beta of 1.06. It now has negative earnings.

The stock decreased 1.86% or $0.08 during the last trading session, reaching $4.22. About 931,775 shares traded. Information Services Group, Inc. (NYSE:AEP) has risen 7.63% since December 6, 2016 and is uptrending. It has underperformed by 23.42% the S&P500.

Investors sentiment increased to 1.09 in 2017 Q2. Its down 0.12, from 1.45 in 2017Q1.

Latest News