General Electric is now one of our “Ten Stocks To Own for the Next Decade” and the company keeps adding to why that is the case.
The Q4 guidance was unchanged and Immelt called for good earnings 2010 to 2012 with accelerated growth into 2012. As seen last week, GE is looking for GE Capital to remain solid despite it shrinking that side of the portfolio.
Immelt sees industrial growth returns in 2011, although it will change the financial reporting to highlight operating earnings outside of rising pension costs.
An interesting take is that Immelt noted that the Berkshire Hathaway Inc. (NYSE: BRK-A) stake of preferred shares will be retired no later than October.
The NBC Universal deal with Comcast Corporation (NASDAQ: CMCSA) is still expected to close this year.
The main message Immelt was discussing today was growth. He went as far as to say that GE is back on the offense.
The full Immelt presentation slides can be seen here.
GE shares closed up 0.4% at $17.69 this Tuesday and its 52-week trading range is $13.75 to $19.70.
You can join our free daily email distribution list to hear more about dividend trends, analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.
JON C. OGG
Top Gaining Stocks
Top Losing Stocks