On Wednesday, General Electric Company (NYSE:GE)’s shares declined -0.77% to $31.04.
GE (GE) declared that it has signed a purchase agreement to acquire Metem Corporation, a U.S.-based provider of precision cooling hole manufacturing technologies that enable turbine engines to function more efficiently, saving costs, increasing operation time and reducing emissions.
Heavy-duty gas turbines are subject to very high temperatures during operations, making metals weaker. With heavy-duty gas turbine blades operating under high temperatures and experiencing noteworthy centrifugal stresses, turbine blade cooling is an important component of GE’s next generation of advanced gas turbines. To realize supply chain efficiencies and reduce costs, GE made the decision to bring cooling hole-drilling capability in-house by acquiring Metem.
GE and Metem have had a very strong relationship since the 1970s, driven by Metem’s record of innovation and technology development and the strength of its world-class workforce. As a result, GE is Metem’s largest customer recently. This acquisition is very planned for GE Power, as demand for advanced manufacturing technologies significantly enhances as products evolve. GE envisions building out the capabilities and capacity of the Metem network.
Until the transaction closes, the two companies will continue to operate as separate businesses, and Metem will continue to be managed by the existing leadership team. GE and Metem expect the deal to close in the first quarter of 2016.
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. Its Oil and Gas segment provides surface and subsea drilling and production systems, equipment for floating production platforms, compressors, turbines, turboexpanders, reactors, industrial power generation, and auxiliary equipment.
Alibaba Group Holding Ltd (NYSE:BABA)’s shares dropped -1.92% to $81.70. The market capitalization of Alibaba Group Holding Ltd (NYSE:BABA) is $209.18 billion with the total traded volume of the company is 6.98 million. Turning to market valuation, the Price-to-Earnings ratio is 21.84, the Price-to-Sales ratio is -15.45 and the Price-to-Book ratio is finally -6.81.
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.
General Mills, Inc. (NYSE:GIS)‘s shares dipped -0.54% to $58.56. The last trading range of General Mills, Inc.(NYSE:GIS) ranges between $58.47 and $59.05. The EPS of the company stands at $2.42. The 52-week range shows that the stock reached higher at $59.87 while its lower range is $47.43 in the last 52-weeks. The average volume of the company is at 3.43 million with the Outstanding Shares of 593.35 million. The market capitalization of the company is $34.94 billion. The Beta of the company stands at 0.36 with the RSI (Relative Strength Index) of 52.15.
General Mills, Inc. manufactures and markets branded consumer foods in the United States and internationally. It also supplies branded and unbranded food products to the foodservice and commercial baking industries.