General Electric Company (NYSE:GE) Sees Australia As One Of Its Top Ten Markets

  on May 23,2012 Posted in Featured ,Investment Ideas
 
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General Electric Company (NYSE:GE) expects business opportunities of A$30 billion or $29.7 billion worth in the Australian gas market in the coming few years, according to the Australian newspaper. John Krenicki, who is a chief executive of GE’s Energy division, was cited as speaking the company considers Australia as one of its top ten markets, as the country moves forward to place itself as the world’s largest producer of liquified natural gas (LNG) by 2017.

Conglomerate GE last week intended to buy mining equipment firm Industrea Ltd in a deal predicted at about A$470 million offer. Back in 2011 it planned to increase revenue at its energy division by as low as 8 percent in 2012, and was targeting $60 billion in revenue from the unit by 2014.

In latest closing data General Electric Company (NYSE:GE) shares moved up +0.31% to settle at price $19.18. Intraday trading appeared in a range of $19.06 – $19.29 while in period of a year the stock floated within a range of $14.02 – $21.00. The volume of 47.19 million shares competed with an average daily trading volume of 43.02 million shares.

Let’s have look on other hot stocks, Citigroup Inc. (NYSE:C) shares moved up 2.55% to settle at price $26.92. Intraday trading appeared in a range of $26.51 – $27.70 while in period of a year the stock floated within a range of $21.40 – $43.06. The volume of 50.78 million shares competed with an average daily trading volume of 42.33 million shares.

Another competitor Koninklijke Philips Electronics NV (ADR) (NYSE:PHG) closed up 0.05% to settle at price $19.24. Intraday trading appeared in a range of $19.10 – $19.52 while in period of a year the stock floated within a range of $16.26 – $27.97. The volume of 906,586 shares competed with an average daily trading volume of 1.40 million shares.

Siemens AG (ADR) (NYSE:SI), traded down -0.07% to settle at price $85.46. Intraday trading appeared in a range of $85.00 – $86.54 while in period of a year the stock floated within a range of $83.02 – $138.46. The volume of 491,675 shares competed with an average daily trading volume of 788,908 shares.

 



 

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