News Formal

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

  • 📰 CNBC
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 72%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

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

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.

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. "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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in İE
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

GE Just Lifted the Veil on Its Insurance Business. Here’s What Investors Learned.The changes in GE’s insurance unit mirror changes that new CEO Larry Culp has been making across the entire company since his arrival last year.
Source: MarketWatch - 🏆 3. / 97 Read more »

GE shares drop after giving 2019 earnings forecast lower than Wall Street estimatesGeneral Electric gave shareholders an updated earnings forecast on Thursday.
Source: CNBC - 🏆 12. / 72 Read more »