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MarketScreener Homepage  >  Equities  >  Nyse  >  General Electric Company    GE

GENERAL ELECTRIC COMPANY

(GE)
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GE announces $15 billion of business deals with Saudi Arabia

05/20/2017 | 04:27pm EST
Vice Chairman of General Electric, John Rice and Saudi Governor of Small & Medium Enterprises, Ghassan Ahmed Al Sulaiman pose for photos at the Saudi-US CEO Forum 2017 ahead of the arrival of the U.S. President Donald Trump, in Riyadh

RIYADH (Reuters) - U.S. technology and engineering conglomerate GE (>> General Electric Company) said on Saturday it had signed $15 billion of business deals with Saudi Arabia as part of the kingdom's drive to diversify its economy beyond oil.

RIYADH (Reuters) - U.S. technology and engineering conglomerate GE (>> General Electric Company) said on Saturday it had signed $15 billion of business deals with Saudi Arabia as part of the kingdom's drive to diversify its economy beyond oil.

It came as dozens of senior U.S. business executives met Saudi counterparts at a conference coinciding with the visit of President Donald Trump to Riyadh.

The agreements, which involve almost $7 billion of goods and services from GE itself, range from the power and healthcare sectors to the oil and gas industry and mining, GE said. Some of the deals are memorandums of understanding which would require further agreements to materialize.

Among the projects, GE will help make Saudi power generation more efficient and provide digital technology to the operations of oil firm Saudi Aramco, aiming to create $4 billion of annual productivity improvements at Aramco. It will cooperate in medical research and training.

(Reporting by Andrew Torchia Editing by Jeremy Gaunt.)


© Reuters 2017
Stocks mentioned in the article
ChangeLast1st jan.
AIMING INC. -0.22% 456 End-of-day quote.45.69%
GENERAL ELECTRIC COMPANY 0.48% 10.5 Delayed Quote.-5.91%
SAUDI ARABIAN MINING COMPANY (MA'ADEN) -0.60% 41.2 End-of-day quote.-7.21%
SAUDI ARABIAN OIL COMPANY 0.56% 35.9 End-of-day quote.1.84%
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Financials (USD)
Sales 2020 79 649 M - -
Net income 2020 3 511 M - -
Net Debt 2020 20 304 M - -
P/E ratio 2020 31,4x
Yield 2020 0,38%
Capitalization 91 979 M 91 979 M -
EV / Sales 2020 1,41x
EV / Sales 2021 1,41x
Nbr of Employees 189 400
Free-Float 74,3%
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Technical analysis trends GENERAL ELECTRIC COMPANY
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 9,56 $
Last Close Price 10,50 $
Spread / Highest target 14,3%
Spread / Average Target -8,91%
Spread / Lowest Target -33,3%
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Managers
NameTitle
H. Lawrence Culp Chairman & Chief Executive Officer
Carolina Dybeck-Happe Chief Financial Officer & Senior Vice President
Victor Abate Chief Technology Officer & Senior Vice President
James S. Tisch Independent Director
Francisco D'Souza Independent Director
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