GE Capital Completes Over $2.7 Billion in 2013 Financing and 2 Other Hot Stocks to Watch
General Electric Co. (NYSE:GE): Current price $23.69
On Thursday, GE Capital’s Telecom, Media, and Technology financing division said that during the first half of 2013 it completed over 30 transactions amounting to $2.7 billion in financing. The TMT arm meets the financial requirements of customers in crucial growth sectors, including data centers, cable, towers, metro fiber, TV, radio, digital media, and software, among others.
GE Capital was the administrative agent on a $65-million credit facility for Roadnet Technologies, which is a portfolio form of Thoma Bravo, in the second quarter of 2013. GE Capital Markets served as joint lead arranger and sole bookrunner on the transaction.
Abercrombie & Fitch Co. (NYSE:ANF): Current price $38.22
Shares are down more than 17.5 percent Thursday morning, after the teen-oriented retailer posted second-quarter results that were weaker than had been forecast. Both earnings and revenue missed as Abercrombie’s store traffic and women’s clothing sales were weak. The firm reported that its total comparable sales fell by 10 percent during the quarter with domestic comp sales dropping 11 percent and international comps by 7 percent. However, the retailer’s comparative sales in China jumped by some 60 percent during the same period.
SunEdison Inc. (NYSE:SUNE): Current price $8.01
SunEdison shares jumped the most in a year following the company’s announcing its plans to separate its semiconductor operations in an initial public offering, through which to fund the development of solar farms and pay down debt.
The polysilicon vendor previously known as MEMC Electronic Materials Inc. will divest a minority interest in its semiconductor unit through the IPO, according to a Thursday statement, which also indicated that the IPO should take place early in 2014. The venture will be called SunEdison Semiconductor Inc. and will operate independently with its own board of directors.