Here Is Why These Five Companies Are in Spotlight Today

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General Electric Company (NYSE:GE) is slightly lower today as analysts at JPMorgan resumed coverage of the stock. The firm slapped an ‘Underweight’ rating on GE and a price target of $25 per share, saying it believes the company’s current earnings expectations are too high. JPMorgan also said it believes GE’s current stock price already reflects the company’s portfolio transformation. In other news, GE has recently announced a deal to buy Doosan Engineering & Construction’s heat recovery steam generator unit for $250 million in cash. The company said this acquisition would bolster its combined-cycle power plant portfolio and help it refocus on its industrial business. GE has also announced a deal to provide electric systems to Maersk Line, the world’s largest container shipping company. Although the container shipping business has suffered a decrease in demand, the increase in fleet volumes was unchanged. This could help GE further develop its collaboration with firms in the industry by providing engines and components for the newly built vessels. Harris Associates has established a new position in General Electric Company (NYSE:GE) during the first quarter and amassed more than 45.8 million shares worth some $1.45 billion according to its 13F filing.

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Shareholders of CA, Inc. (NASDAQ:CA) are all smiles today after the company’s latest quarterly report topped expectations. The provider of business software and services reported revenues of $1 billion and adjusted earnings of $0.60 per share for the fiscal fourth quarter. Wall Street, in turn, was expecting $0.57 in earnings per share on $992 million in revenues. CA has also issued guidance for the current fiscal year, noting that it expects revenues to range between $4.04 billion and $4.08 billion, and earnings of $2.51 to $2.56 per share; the projections surpassed analysts’ estimates. Shares opened higher today and continued to surge as much as 6% during the first hours of trading. Analysts at Barclays have reacted to the report by reiterating their ‘Overweight’ rating and the $33 price target. David Harding‘s Winton Capital Management’s holding of CA, Inc. (NASDAQ:CA) was heavily reduced over the first quarter, as the fund indicated ownership of 589,325 shares, down by 74% from the previous quarter.

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Disclosure: none

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