ThePennyStockProfiler.com providing you the best fundamental coverage of GE, CR, JBT and MKSI.
New York, NY -- (SBWIRE) -- 12/21/2012 -- General Electric Company (NYSE:GE) has decided to purchase the aviation business of Italian aerospace firm Avio for €3.3bn ($4.3bn), or 8.5 times Avio’s 2012 EBITDA, the firms announced on Friday.
Avio will fortify GE’s international supply chain competences as its engine production rates continue to grow to meet mounting customer demand, GE announced in a statement.
Has GE Found The Bottom and Ready To Move Up? Find Out Here
The US conglomerate will capitalize $1.1bn in the coming ten years in the aviation assets it purchased from Avio, GE Aviation’s chairman and chief executive David Joyce confirmed.
Avio, which sells engine parts for the Eurofighter Typhoon and engine manufacturers GE and Rolls-Royce Holdings Plc, was purchased in 2006 by Cinven in a transaction that valued the company at almost 2.6 billion euros. The transaction will not comprise Avio’s aerospace unit.
At the current trading session, General Electric Company (NYSE:GE) shares are down -1.57% to $20.72 while the stocks are trading within the range of $20.56 – $20.99. In the past year, the stock has traded within a range of $17.65 – $23.18. Average daily trading volume is 42.63 million shares.
If we look at a few other stocks within industry, Crane Co., John Bean Technologies Corporation and MKS Instruments, Inc. are in the top gainers. Let’s have a quick look on their Market performance.
Crane Co. (NYSE:CR) shares are up +3.11% to $46.36 while the stock is trading within the range of $44.16 – $46.74 in the current trading session. In the last 12 months the shares have traded between $34.89 and $51.48. The average daily trading volume is 210,220 shares.
Will CR Continue To Move Higher? Find Out Here
John Bean Technologies Corporation (NYSE:JBT) shares in the current session moved up +0.57% reaching $17.51. The stocks are trading in a range of $17.25– $17.59. In the last year the stock has moved within a range of $12.76 – $18.20. The Company’s average daily trading volume is 129,583 shares.
For How Long JBT will Fight for Profitability? Read This Trend Analysis report
Another rival company, MKS Instruments, Inc. (NASDAQ:MKSI), is trading up +0.27% to $25.52. Intraday trading recorded the stock price in a range of $24.96 to $25.63. In the previous 52 weeks the stock’s price ranged between $22.45 and $34.99. Their average daily trading volume is 245,797 shares.
Why Should Investors Buy MKSI After The Recent Gain? Just Go Here and Find Out
ThePennyStockProfiler.com is engaged in providing the most up to date and useful information on Microcap Stocks poised to breakout. ThePennyStockProfiler.com also provides investors with trend analysis, detailed company profiles, and most importantly a much needed "informational edge" which can be used as a tool for making investment decisions. To Receive Instant updates in the inbox, readers are advised to sign up for free at www.ThePennyStockProfiler.com
The assembled information disseminated by ThePennyStockProfiler.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. ThePennyStockProfiler.com does expect that investors will buy and sell securities based on information assembled and presented in phd-trading.com. PLEASE always do your own due diligence, and consult your financial advisor.
Copyright © 2005-2013 - SBWire, The Small Business Newswire - All Rights Reserved - Important Disclaimer
Contact Us: 888-4-SBWIRE (US) - 920-593-5640 (International)