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GE Secures Locomotives Deal From Canadian National Railway
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General Electric Company (GE - Free Report) recently landed a locomotive manufacturing order with Canadian National Railway Company (CNI - Free Report) ) for an undisclosed amount. The Class I railroad will buy 200 new locomotives manufactured by GE transportation — one of the operating segments of GE.
GE will manufacture Tier 4 ET44ACs and Tier 3 ES44ACs (Tier 4 certified) locomotives of its Evolution Series as part of the order. The Evolution Series are some of the best-selling and most successful freight locomotives in the U.S. history. Most Class I railroads of North America have ordered the Tier 4 locomotives from the company. These are well known for producing significantly less particulate matter and oxides of nitrogen, and meet the stringent U.S. Environmental Protection Agency emission standards.
The manufacturing of the locomotives will be done at the Fort Worth, TX facility — GE Manufacturing Solutions. The production and delivery of these locomotives are expected to be done over the next three years beginning 2018.
Earlier, CEO, John Flannery was considering divesting the Texas facility as the company intends to concentrate on strengthening its core segments of power, aviation and healthcare equipment and exit all other businesses. This was part of a larger plan by the company to divest $20 billion in assets in an effort to simplify it. This has resulted in uncertainty for the more than 400 employees of the facility and bring the deal into jeopardy.
Shares of GE have underperformed the industry year to date, with an average loss of 44.8% significantly wider than a decline of 4.6% for the latter.
The company is currently undergoing drastic portfolio restructuring initiatives to revive its fortune and even halved its dividend to improve its liquidity.
3M has a long-term earnings growth expectation of 10.2%. It has surpassed estimates thrice in the trailing four quarters with an average positive surprise of 2.5%.
Raven has an expected long-term earnings growth rate of 10%. It has exceeded estimates thrice in the trailing four quarters with an average beat of 25.8%.
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GE Secures Locomotives Deal From Canadian National Railway
General Electric Company (GE - Free Report) recently landed a locomotive manufacturing order with Canadian National Railway Company (CNI - Free Report) ) for an undisclosed amount. The Class I railroad will buy 200 new locomotives manufactured by GE transportation — one of the operating segments of GE.
GE will manufacture Tier 4 ET44ACs and Tier 3 ES44ACs (Tier 4 certified) locomotives of its Evolution Series as part of the order. The Evolution Series are some of the best-selling and most successful freight locomotives in the U.S. history. Most Class I railroads of North America have ordered the Tier 4 locomotives from the company. These are well known for producing significantly less particulate matter and oxides of nitrogen, and meet the stringent U.S. Environmental Protection Agency emission standards.
The manufacturing of the locomotives will be done at the Fort Worth, TX facility — GE Manufacturing Solutions. The production and delivery of these locomotives are expected to be done over the next three years beginning 2018.
Earlier, CEO, John Flannery was considering divesting the Texas facility as the company intends to concentrate on strengthening its core segments of power, aviation and healthcare equipment and exit all other businesses. This was part of a larger plan by the company to divest $20 billion in assets in an effort to simplify it. This has resulted in uncertainty for the more than 400 employees of the facility and bring the deal into jeopardy.
Shares of GE have underperformed the industry year to date, with an average loss of 44.8% significantly wider than a decline of 4.6% for the latter.
The company is currently undergoing drastic portfolio restructuring initiatives to revive its fortune and even halved its dividend to improve its liquidity.
GE currently has a Zacks Rank #5 (Strong Sell). Better-ranked stocks in the industry include 3M Company (MMM - Free Report) and Raven Industries, Inc. , both having a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
3M has a long-term earnings growth expectation of 10.2%. It has surpassed estimates thrice in the trailing four quarters with an average positive surprise of 2.5%.
Raven has an expected long-term earnings growth rate of 10%. It has exceeded estimates thrice in the trailing four quarters with an average beat of 25.8%.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest tickers for the entirety of 2017?
Who wouldn't? These 10 are painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. They are our primary picks to buy and hold. Be among the very first to see them >>