Word: ge
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...converted to a weekly publishing cycle. Two of satellite radio's pioneers - Sirius and XM - merged to avoid mutual failure, along with 42 mergers and acquisitions among consumer magazines. Stock for General Electric, which owns NBC Universal, lost more than half of its value in 2008, fueling rumors that GE might sell its NBC subsidiary, though the company's chairman, Jeffrey Immelt, has denied such claims...
...There were green lights everywhere, but not enough momentum to turn on the afterburners that keep traders moving into the market. That last ingredient showed up when GE (GE) disclosed that S&P had cut its coveted AAA rating to AA+. Some expected the downgrade to be worse or that S&P would indicate it saw more bad news coming for the large conglomerate. That did not happen. So, the news was "better than expected" and whatever gravity had been holding stocks down disappeared. The news about GE shows how perverse the market has become and also serves...
CNBC's answer has been to dive off both sides of the line at once. On the silver-lining-hunt side, its straight-news interviewers now spend uncomfortable days (even when not talking about parent company GE's woes) pleading with gloom-saying guests to declare a bottom to the market or find stock picks. "Do you have just one?" Steve Liesman asked an investment adviser, almost plaintively...
...GE (GE), whose stock has dropped at an extraordinary rate, gained 20% which added $15 billion to its market capitalization in just a few hours. The good news from the conglomerate was that it sold $8 billion of bonds under a program backed by the U.S. government. That means GE is very close to its goal of raising the $45 billion it wanted to get from the debt markets this year. GE also benefited when a skeptical analyst said that a recovery in the financial market held a number of benefits for GE...
...GE appeared to prosper, the second-largest conglomerate in the U.S., United Technologies (UTX) said it would fire 11,600 people and cut its financial forecasts. In the current environment, it may be considered shrewd business to cut the payroll. However UTX's management did not inspire confidence when it revised its forecast down sharply...