On Wednesday, Shares of General Electric Company (NYSE:GE), gained 0.58% to $25.86.
A consortium led by GE’s Digital Energy business (GE) has won a milestone engineering, procurement and construction (EPC) contract from Manitoba Hydro to build a new, 66 kilovolt gas-insulated substation (GIS) to assist meet Winnipeg’s growing energy needs. The contract, valued at 31.4M CAD is the first substation order for GE’s Digital Energy business in Canada .
The new Adelaide Street substation will be built in downtown Winnipeg , replacing the utility’s aging substation on King Street in the Exchange District. The project is part of Manitoba Hydro’s plan to upgrade or replace Winnipeg’s aging substations and other equipment with newer, more efficient power delivery systems.
GE presented the winning EPC bid under an open consortium approach, with GE as the consortium leader and Edmonton, Alberta -based HB Construction Company, Ltd. as the consortium’s engineering and construction partner. Teshmont, a Winnipeg -based leader in high-voltage DC power transmission services, also plays a key role as GE’s key sub-contractor responsible for protection and control engineering and associated testing.
General Electric Company (GE) operates as an infrastructure and financial services company worldwide. The company’s Power and Water segment offers gas, steam and aeroderivative turbines, nuclear reactors, generators, combined cycle systems, controls, and related services; wind turbines; and water treatment services and equipment.
Shares of Weatherford International plc (NYSE:WFT), inclined 0.76% to $10.58, during its last trading session, as Oil prices edged up from six-year lows on Wednesday (Aug 12) as US oil supplies declined and the dollar retreated.
US benchmark West Texas Intermediate for September delivery rose 22 cents to US$43.30 a barrel on the New York Mercantile Exchange. The US contract on Tuesday closed at the lowest level since March 2009. European benchmark Brent oil for September delivery gained 48 cents to US$49.66 a barrel in London.
Oil prices also received support from a retreat in the dollar on Wednesday as China’s move to devalue its currency against the greenback sparked speculation the US Federal Reserve will move more slowly to hike interest rates.
A cheaper dollar lifts demand outside the US for crude oil, which is traded in the US currency on international markets.
Weatherford International plc provides equipment and services used in the drilling, evaluation, completion, production, and intervention of oil and natural gas wells worldwide.
Finally, Fossil Group, Inc. (NASDAQ:FOSL), ended its last trade with -2.32% loss, and closed at $60.67, hitting its lowest level.
Fossil Group stated its financial results for the fiscal quarter ended July 4, 2015. In the second quarter of fiscal 2015, the translation impact from the strengthening of the U.S. dollar negatively influenced net sales by $50.9 million and reduced diluted EPS by $0.30. On a constant currency basis, second quarter net sales raised 2%.
Second Quarter Fiscal 2015 Revenue Summary
The Company stated net income for the second quarter of fiscal 2015 of $54.6 million contrast to $52.5 million for the second quarter of fiscal 2014. Diluted earnings per share were $1.12, contrast to $0.98 for the second quarter of fiscal 2014. In constant currency, diluted earnings per share for the second quarter of fiscal 2015 were $1.42, counting a restructuring charge of $0.10 per diluted share. The favorable earnings per share impact of the comparable 2% sales growth, non-operating gains and a lower share base combined to drive the enhance in diluted earnings per share.
Fossil Group, Inc., together with its auxiliaries, designs, develops, markets, and distributes consumer fashion accessories. The company operates through four segments: North America Wholesale, Europe Wholesale, Asia Pacific Wholesale, and Direct to Consumer.
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