Orlando, FL -- (SBWIRE) -- 09/03/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On General Electric Company(NYSE:GE), Facebook Inc(NASDAQ:FB).
General Electric Company(NYSE:GE) shares increased 0.13% to $23.14. The company on August 30 is reportedly plotting to exit the retail banking business by spinning off GE Capital, the conglomerate's massive financial arm that caused serious angst during the Wall Street crisis. The move highlights the end of the credit boom as well as GE’s efforts to leave itself less exposed to the banking business following the scary 2008 financial meltdown.
According to The Wall Street Journal, GE has hired bankers from JP Morgan Chase (JPM) and Goldman Sachs (GS) to work on a possible initial public offering of GE Capital.
Additionally, the company on August 27 said a partnership with China XD Electric Co. (601179) will help double sales of power transmission products and services in its digital energy business to $4 billion annually in the next decade.
GE’s 3.38 billion yuan ($552.2 million) purchase of a 15 percent stake in XD Electric, a power equipment maker, was completed today, 15 months after it was announced, according to a statement. GE and China XD also agreed to form a joint venture to sell grid-automation equipment in China, the companies said.
Are investors worried about the recent updates with GE? Find out with a free trend analysis HERE
Facebook Inc(NASDAQ:FB) shares increased 0.03% to $41.29The company on August 29 said it is considering incorporating most of its 1 billion-plus members' profile photos into its growing facial recognition database, expanding the scope of the social network's controversial technology.
The possible move is intended to improve the performance of its "Tag Suggest" feature. The feature uses facial recognition technology to speed up the process of labeling or "tagging" friends and acquaintances who appear in photos posted on the network.
Additionally, the company on August 13 plans to buy the maker of a speech recognition and language translation app, providing technology that could bolster the social networking company's mobile efforts. Facebook did not disclose the financial terms of its deal for Pittsburgh-based Mobile Technologies.
Moreover, the company on July 24 reported second quarter adjusted EPS of $0.19, up from $0.12 in the previous year. The consensus estimate was for EPS of $0.14. Revenues rose 53% to $1.81 billion from $1.18 billion in the same quarter last year. The consensus estimate was for revenues of $1.62 billion.
Is FB going to continue its rally or drop like a rock? Find out with a free trend analysis HERE
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