Conglomerates Sector Review: General Electric Financing, 3M Earnings Outlook
Siemens AG (NYSE:SI): Nokia Siemens Networks (NYSE:NOK) (NYSE:SI) has raised over EUR1.2B from a consortium of 14 European and U.S. banks, the Financial Times reports. About EUR600M will be provided as a one-year term loan and the remainder is on a three-year term. Banks in the consortium include JP Morgan (NYSE:JPM), Citi (NYSE:C), Royal Bank of Scotland (NYSE:RBS) and Bank of America (NYSE:BAC).
The shares closed at $98.19, up $0.71, or 0.73%, on the day. Its market capitalization is $85.84 billion.
General Electric Company (NYSE:GE): GE Capital, Dealer Finance announced that it is doubling its sales force to support growing retail and wholesale demand for construction equipment financing. GE Capital’s lending to the construction industry grew 36% in 2011 and the outlook for 2012 activity is strong, necessitating additional staff. The new hires will be spread across 10 regions in the U.S. to provide one-on-one assistance to our wholesale and retail customers when necessary, said Kristi Webb, commercial leader of GE Capital, Dealer Finance.
The shares closed at $18.94, down $0.21, or 1.1%, on the day. Its market capitalization is $199.96 billion.
United Technologies Corp. (NYSE:UTX): In a ribbon cutting ceremony attended by U.S. Congresswoman Grace F. Napolitano and other government officials on January 12, Hamilton Sundstrand Corporation dedicated its new state-of-the art lean manufacturing line for the next generation Central Atmosphere Monitoring System, designated the CAMS IIA. Hamilton Sundstrand recently delivered its first CAMS IIA production system to the U.S. Navy for the Los Angeles Class submarine retrofit program and the Virginia Class Block III program. Hamilton Sundstrand is a subsidiary of United Technologies Corporation.
The shares closed at $76.86, up $0.17, or 0.22%, on the day. Its market capitalization is $69.64 billion.
3M Company (NYSE:MMM): George Buckley may end his time as 3M’s (NYSE:MMM) CEO on a down note, as the sluggish economy is expected to weigh on the company’s earnings, due this Thursday, reported The Wall Street Journal.
The shares closed at $85.61, down $0.04, or 0.05%, on the day. Its market capitalization is $60.00 billion.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.