NEW YORK, March 21, 2013 -Bestdarnpennystocks.com, one of the leaders in providing investment alerts on U.S. stocks are announcing Investment Highlights on General Electric Company, Oracle Corporation, Ford Motor Company.
After Dow Jones reported that CEO Jeffrey Immelt told business leaders in Sydney that he’d “never say never” about a spinoff of General Electric Company(NYSE:GE) Capital Corp., GE has clarified that Immelt never implied that a spinoff was under consideration.
“As Jeff clearly stated, there are no plans to split off GE Capital from the parent company,” GE spokesman RussellWilkerson has said in an e- mail, adding that the CEO’s comments were taken out of context in the Dow Jones report.
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GE Capital earned a profit of $7.4 billion for 2012, while GE’s earnings for the year were $14.7 billion. Analystsfeel that severing ties with the finance division would be detrimental to GE shareholders. On the other hand, selling or spinning off parts of GE Capital, its private-label credit card business or real estate holdings for instance,would be beneficial.
GE closed at $23.46 in New York, up 0.6 percent.
Meanwhile, Oracle Corporation(NASDAQ:ORCL) has thrust the blame of missing its third-quarter software sales target on its rapidly expanding sales force. It has also said that its struggling hardware business would continue to be under pressure.
Oracle's revenue fell 1 percent to $9 billion, much lower than the $9.382 billion expected by analysts.
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GAAP net profit remained flat at $2.5 billion while GAAP earnings per share were 52 cents, 6 percent higher from the year-ago period. Earnings per share on an adjusted basis were 65 cents, a tad below the 66 cents the Street had estimated.
Revenue from Oracle's hardware division dropped to $671 million from $869 million in the prior-year period. The company had acquired this division through the purchase of Sun Microsystems in 2010 at $5.6 billion.
The stock slumped 8 percent to $32.95.
In other news, the Ford Motor Company(NYSE:F) will supposedly terminate its Belgium factory in 2014. It has referred to poor sales and overproduction issues in Europe.
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As per the Associated Press, the automaker has stated on Tuesday that it will shell out $750 million in separationbenefits to all the workers, who work in the plant on an hourly-basis.
Ford has also said that the closure of the plant will result in the loss of nearly 4,200 job positions by the end of nextyear. Production unit will supposedly be shifted to Ford’s facility located in Valencia.
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