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Non-Tech : General Electric (GE) -- Ignore unavailable to you. Want to Upgrade?

To: JEM who wrote (627)	10/2/1998 1:22:00 PM
From: radman33	Read Replies (1) \| Respond to of 3256

GE sees record Q3 and 1998 results FAIRFIELD, Conn., Oct 2 (Reuters) - General Electric Co., a diversified conglomerate with businesses ranging from aircraft engines to broadcasting, said Friday it expected to report record third-quarter earnings and operating margin next week. The company also said in a statement it was on target for record financial performance this year. GE said it will post double-digit earnings gains, in line with Wall Street analysts' expectations, from both its industrial and financial-services businesses. Analysts expected third-quarter earnings of $0.69 per share, versus $0.60 a year earlier, according to First Call. GE also said, in response to speculation, that it has no plans to break up its GE Capital Services unit or assign any of its businesses to the parent company's industrial units. GE had no comment on a British newspaper report of September 14, which said that GE Capital Services President Gary Wendt was on the verge of quitting. Analysts expect GE to have 1998 earnings of $2.80 per share, compared to $2.46 in 1997, according to First Call. GE Chairman Jack Welch said the company's ''unique business model'' would help drive future growth. ''Our unique business model, which includes strong industrial and media businesses and strong financial services businesses, has enabled us to grow through past business cycles and is demonstrating strength in the current environment, generating both cash and earnings growth,'' Welch said. GE has relatively minor exposure to the world's financially troubled markets, with only 9 percent of its $89.3-billion 1997 revenues coming from Asia. GE shares were down 1 at 74-1/2 in midday trading on the New York Stock Exchange, off the morning low at 70-5/8. Volume was 6.38 million shares. I don't see a problem with GE here. IMO GE is a great buy right now.