During Wednesday’s trade, Shares of General Electric Company (NYSE:GE), gain 0.54% to $30.35.
Equipping industrial customers with a streamlined solution to improve their data collection and analysis processes, GE (NYSE: GE) declared that its trusted industrial PCs (IPC) will now come complete with the company’s proven supervisory control and data acquisition (SCADA)/human machine interface (HMI) automation software preinstalled. The new, integrated SCADA Edge IPC from GE’s Automation & Controls solutions provides the intelligent processing power needed to sift through vast amounts of data to uncover actionable information that can be used to proactively manage recently’s brilliant machines and factories.
GE’s SCADA Edge IPC provides an integrated solution to assist meet the needs of an increasingly connected industrial space. Built on GE’s EP industrial PC platform, the new SCADA Edge unit comes preconfigured with either GE’s iFIX or CIMPLICITY HMI/SCADA software and can be scaled to 500, 1,500 or 3,000 tags. With this software, the SCADA Edge IPC is able to provide real-time visibility into mass amounts of valuable data, enabling users to make more informed decisions.
General Electric Company 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 Alibaba Group Holding Ltd (NYSE:BABA), inclined 0.26% to $84.60, during its current trading session.
Yahoo! Inc. is a technology company. The company is scrapping its original plan to spin off its prized stake in China’s Alibaba Group and will instead explore breaking off the rest of its business into a new company, according to (latimes)
The change of heart declared Wednesday comes after Yahoo’s board met last week to review the projected Alibaba spinoff, in addition to CEO Marissa Mayer’s stalled attempts to turn around one of the Internet’s best-known companies.
Yahoo Inc. said it now plans to look into how it can spin off all of its other businesses and their liabilities into a new company. That business would be distributed to Yahoo shareholders.
Yahoo Chairman Maynard Webb said in a statement that the company became concerned about the original plan to spin off the Alibabastake in part because of the market’s perception of tax risk.
The meetings Yahoo held last week comprised a negotiation on whether to heed an activist shareholder’s call for Yahoo to sell the websites, mobile applications and ad services that generate most of its revenue and recast itself to a holding company for its holdings in Alibaba, a rapidly growing e-commerce company, and Yahoo Japan. Latimes Report
Alibaba Group Holding Limited, through its auxiliaries, operates as an online and mobile commerce company in the People’s Republic of China and internationally. It operates Taobao Marketplace, an online shopping destination; Tmall, a third-party platform for brands and retailers; Juhuasuan, a group buying marketplace; Alibaba.com, an online wholesale marketplace; Alitrip, an online travel booking platform; 1688.com, an online wholesale marketplace; and AliExpress, a consumer marketplace.
Finally, Shares of Citigroup Inc (NYSE:C), lost -1.09%, and is now trading at $52.81.
Citigroup Inc (C.N) will take a $300 million “repositioning charge” in the fourth quarter, Chief Financial Officer John Gerspach said on Wednesday, according to Reuters
The charge will be taken to “resize infrastructure and capacity” throughout Citi’s businesses, Gerspach said at the Goldman Sachs U.S. financial services conference.
Citi will also add $300-400 million in loan reserves from the third quarter for energy loans, based on the expectation that oil prices will remain low, he said.
Depressed oil prices have put several U.S. banks under pressure due to their exposure to loans to oil companies. Reuters Report
Citi is due to report fourth-quarter earnings on Jan. 15.
Citigroup Inc., a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions worldwide. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).