The stock is moving on low volume, traded at a volume of 25.08 million shares, as compared to its average daily volume of 41.59 million shares. CFO Jeffrey Bornstein sees FY 2017 EPS trending toward the lower-end of its previously stated $1.60-$1.70 range. Mr. Flannery reiterated that the framework for 2017 is set and he is "not anxious that we're going to be, you know, dead in the water in the meantime".
United States industrial giant General Electric reported net profits of $1.34bn for the second quarter of 2017, 53% less than its earnings for the same quarter in 2016. "People's openness to rethinking things or thinking about things differently or challenging many things we've taken for granted is encouraged, and people get excited about that". During its second quarter, GE cut $593 million in costs and said it was on track to meet its $1 billion savings goal.
Outlook: Honeywell raised its full-year revenue target to $39.3 billion to $40 billion. GE set off alarm bells after reporting negative $1.6 billion in industrial operating cash flows in the first quarter, as working capital increased.
Industrial orders - which give a glimpse at future demand for equipment like jet engines, power turbines and oil-related equipment - rose 6% in the quarter, driven by strength in its aviation and health-care businesses.
The oil and gas division of the company, however, posted revenue of $3.1 billion, a 3 percent decline from the same time a year ago.
Pakistan PM Nawaz Sharif asked to produce money trail
He said that the opposition lawmakers should ready themselves for General Elections 2018. He said these documents are undeniable proofs of money trail for London flats.
Revenue slid 3 percent in the oil and gas unit. Much of the drop came from a year-ago boost from the sale of its home appliances business.
Both sides agreed unanimously on the arrangement in October, with the oil and gas unit of GE taking a 62.5 percent stake in Baker Hughes for an entity with combined revenue of $32 billion.
GE's net profit slumped 58% to $1.34 billion, or 15 cents a share, in the quarter ended June 30, from $3.30 billion, or 36 cents a share, a year earlier.
Imani Moise contributed to this article.
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