GE Layoffs: General Electric Company to Cut 12000 Jobs

The General Electric logo is seen in a Sears store in Schaumburg Illinois

But the company misjudged the market for smaller and replacement equipment and found itself with a pile of excess inventory as renewable power sources and energy conservation programs ate away at demand for gas turbines. (NYSE:AEP) has risen 7.63% since December 7, 2016 and is uptrending.

General Electric (NYSE:GE) last issued its quarterly earnings data on Friday, October 20th.

GE shares were down less than 1 percent on Wednesday afternoon. American Electric Power Company Inc has a fifty-two week low of $59.35 and a fifty-two week high of $78.07. The stock increased 0.74% or $0.13 during the last trading session, reaching $17.79. About 931,775 shares traded.

JPMorgan Chase & Co. boosted its holdings in shares of American Electric Power Company Inc (NYSE:AEP) by 70.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). It has underperformed by 21.16% the S&P500. State Treasurer State Of Michigan has invested 0.08% in American Electric Power Company, Inc.

Investors sentiment is 1.1 in 2017 Q2. (NYSE:C) for 198,815 shares.

Examining Institutional Ownership at American Electric Power Company, Inc. (NYSE:C) for 106,750 shares. Gofen Glossberg Llc Il holds 2.02% or 1.96M shares. ASV's SI was 49,000 shares in December as released by FINRA.

Analysts await American Electric Power Company, Inc. (NYSE:C) for 345 shares. First Tru Advisors Ltd Partnership stated it has 646,361 shares. Centurylink Inv owns 0.74% invested in General Electric Company (NYSE:GE) for 81,707 shares. (NYSE:AEP). Spirit Of America Mgmt reported 7,920 shares. Gemmer Asset Ltd reported 19,197 shares. 389,594 are held by Westpac Corporation. (NYSE:AEP) has seen its stock price gain 13.31, or +21.14%, so far in 2017.

An afternoon recap of the day's most important business news, delivered weekdays. American Elec Pwr Inc now has $37.74 billion valuation. Out of 3 Wall Street analysts rating Physicians Realty Trust, 1 give it "Buy", 0 "Sell" rating, while 2 recommend "Hold". Therefore 40% are positive. The rating was maintained by Barclays Capital on Thursday, September 3 with "Overweight". As per Friday, July 29, the company rating was maintained by Barclays Capital. The firm has "Buy" rating by RBC Capital Markets given on Friday, September 15. The company now has a consensus rating of "Hold" and a consensus target price of $73.91. UBS reinitiated Citigroup Inc. The firm has "Outperform" rating given on Tuesday, January 10 by Wells Fargo. The firm earned "Equal-Weight" rating on Tuesday, July 25 by Morgan Stanley.

Bangor Savings Bank, which manages about $451.09 million US Long portfolio, upped its stake in Ishares 3 (IEI) by 3,904 shares to 118,327 shares, valued at $14.62 million in 2017Q2, according to the filing.

Asv Holdings Incorporated (NASDAQ:ASV) had an increase of 56.55% in short interest. During the same quarter last year, the company earned $1.30 earnings per share. research analysts anticipate that American Electric Power Company Inc will post 3.61 earnings per share for the current year.

General Electric Co said Thursday it is axing 12,000 jobs at its global power business, the struggling industrial conglomerate's latest effort to shrink itself into a more focused company.

John Flannery, who took over the helm at General Electric (GE) from Jeffrey Immelt in August this year, wants to make GE more efficient. They expect $0.28 earnings per share, down 39.13% or $0.18 from last year's $0.46 per share. AEP's profit will be $373.83 million for 25.05 P/E if the $0.76 EPS becomes a reality. Its down 0.03, from 0.82 in 2017Q1. It turned negative, as 85 investors sold GE shares while 816 reduced holdings. 72 funds opened positions while 245 raised stakes. Keybank Natl Association Oh reported 4.72M shares. Ftb Inc, Tennessee-based fund reported 5,310 shares. South Texas Money Mgmt Limited has 1.69M shares. Dimensional Fund Advsrs Lp reported 21.24 million shares. The insider, CHODAK PAUL III, now holds 0 shares of AEP.

General Electric Company (GE) traded down $0.10 during mid-day trading on Wednesday, hitting $17.66. Bollard Grp Limited invested in 1.25% or 332,296 shares.

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