General Electric’s Solid Quarter, Charter Explores Bid for Time Warner Cable, and 2 More Hot Stocks
General Electric (NYSE:GE): Second quarter results: EPS of $0.36 beat projections by a cent, though revenue of $35.1 billion misses by $0.48 billion. Net profit increases to $3.13 billion, despite the 4 percent slip in revenues. Industrial segment growth market revenues swelled 5 percent, while segment margins also rose 50 bps, with strong performance in six of seven segments. Emerging markets remain resilient, as Europe is slowly stabilizing although it presents continued challenges.
Charter Communications (NASDAQ:CHTR): Charter and Goldman Sachs are reportedly in talks about negotiating the purchase of Time Warner Cable (NYSE:TWC), after being rebuffed by Time Warner earlier this year. John Malone, chairman of Liberty Media (NASDAQ:LMCA), is behind the move, pulling strings as Liberty owns 27 percent of Charter and has been a proponent of industry consolidation. However, Charter has a market value of $12.6 billion, compared with $33.1 billion for Time Warner Cable, posing some issues with an acquisition.
Barclays (NYSE:BCS): Sheikh Mansour bin Zayed Al Nahyan, who was responsible for a $5.3 billion cash injection into the troubled bank during the financial crisis, apparently cashed in his 7 percent stake in the firm three weeks ago, and walked away with a healthy profit, CNBC reports. Under the terms of the 2008 deal, both Abu Dhabi and Qatar were given discounted access to new shares plus free warrants that could be converted into additional shares. Warrants and perks aside, the share price is still up 60 percent since the time of the investment.
Honeywell (NYSE:HON): While second quarter EPS of $1.28 beat expectations by $0.07, as revenue of $9.7 billion fell in-line. The company saw “good organic growth” in the Automation & Control Solutions’ Energy, Safety & Security business, and the Turbo Technologies segments, “both of which continue to outgrow the key end markets in which they compete.” Commercial Aerospace, Process Solutions, and UOP, “also continue to perform well, benefiting from favorable macro-trends.”
Don’t Miss: GE Earnings: Soft Growth But Good Outlook.