General Electric Firm (NYSE:GE) [Trend Analysis] retains strong position in active trade, as shares scoring -0.41% to $29.10 in a active trade session, while looking at the shares volume, about 43.49 Million shares have changed hands in this session. General Electric (GE) and Baker Hughes (BHI) confirm accord to combine GE’s oil and gas business with Baker Hughes. The firm reported that the companies have entered into an contract to combine GE’s oil and gas business and Baker Hughes to create a world-leading oilfield technology provider with a exclusive mix of service and equipment capabilities.
The “New” Baker Hughes will be a leading equipment, technology and services provider in the oil and gas industry with $32 billion of combined income and operations in over 120 countries. Under the terms of the contract, which has been unanimously agreed by the boards of directors of both companies, at the closing of the transaction Baker Hughes shareholders will receive a special one-time cash dividend of $17.50 per share and 37.5% of the new firm.
GE will own 62.5% of the firm. The transaction is predictable to close in mid 2017. The transaction will be executed using a alliance structure, pursuant to which GE Oil & Gas and Baker Hughes will each contribute their operating assets to a newly formed alliance. The $7.4 billion contributed by GE to the new alliance will be used to fund the cash dividend to existing Baker Hughes shareholders. The firm has institutional ownership of 57.20%, while insider ownership included 0.05%. GE attains analyst recommendation of 2.20 with week’s performance of 0.62%. Investors looking additional ahead will note that the Price to next year’s EPS is 11.86%.
CyrusOne Inc. (NASDAQ:CONE) [Trend Analysis] knocking active thrust in leading trading session, shares a loss of -0.49% to 44.61 with about 5.82 Million shares have changed hands in this session. CyrusOne (CONE) reported CFO Gregory R. Andrews will be leaving the co effective November 30 to pursue other interests and will be succeeded by Diane M. Morefield as CFO. Morefield served as EVP and CFO of Strategic Hotels & Resorts, a publicly traded REIT, from early 2010 until year-end 2015, when the firm was sold to the Blackstone Group. The stock is going forward its fifty-two week low with 41.00% and lagging behind from its 52-week high price with -21.12%.
Same, the positive performance for the quarter recorded as -16.19% and for the year was 30.69%, while the YTD performance remained at 22.06%. CONE has Average True Range for 14 days of 1.53.