General Electric Company’s (GE - Free Report) business division — GE Lighting — has efficiently supported Walmart Inc.’s (WMT - Free Report) sustainability efforts over the past two years by shifting the latter’s shoppers from conventional light bulbs to its energy-saving Light Emitting Diode (LED) bulbs. The move has also significantly added strength to Walmart’s ongoing Project Gigaton through which, it intends to cut down nearly one gigaton greenhouse gas emissions by 2030.
General Electric’s business arm — GE Heathcare — has lately joined hands with the Bradford Teaching Hospitals NHS Foundation Trust for developing the foremost artificial intelligence (AI) enabled hospital command centre in Europe.
Also, the company’s GE Aviation business arm has rolled out a new Accelerator in Washington, D.C. for innovating newfangled mission-critical solutions with the cooperation of Defense and Federal customers.
Inside the Headlines
Of late, Walmart has been expanding its sustainable product offerings. In sync with this strategic move, the company encourages its shoppers to use General Electric’s commercial LED bulbs. These bulbs utilize 70-90% less energy and lasts 15-25 times longer than its alternative traditional lighting options. General Electric currently supplies more than 100 types of energy-efficient LED products at Walmart including all $2-$4 bulbs and 36 ENERGY STAR LEDs. Notably, General Electric’s state-of-the-art LEDs are used across all Walmart facilities and stores. Over the past decade, Walmart has reduced its energy costs by nearly $100 million with the usage of these LEDs. By 2025, the company intends to trim down nearly 18% energy emissions from its own operations by using General Electric’s LEDs across its distribution centres, parking lots, corporate offices and retail outlets.
The first European Bradford Teaching Hospitals NHS Foundation Trust’s command centre will aid in improving patient care by effectively deploying AI-based solutions. The centre will provide an instant, clear and a real-time overview of the Bristol Royal Infirmary (BRI) hospital beds and deliver 24-7 strategic patient management service assistances to its staff. The centre will display the hospital related data on various high definition screens as well as mobile devices and tablets. BRI hospital’s bed capacity remains 96% full on a regular basis and its workers manages nearly 125,000 attendances and emergency admissions every year. Bradford Teaching Hospitals NHS Foundation Trust is responsible for lowering the patients’ span of stay and increasing the bed count as well as the number of wards in the BRI hospital. The new command centre will significantly optimize services provided by the Trust. The centre is likely to commence operations in spring 2019.
GE Aviation’s new Accelerator is a ground-breaking space that will use analytics and data for developing innovative aviation products and services. Domain expects, data scientists, solution architects and software developers from General Electric will be working together with the Defense and Federal customers to undertake these advancement moves in the Accelerator. The new Washington, D.C. Accelerator is located at the Warner Building of Pennsylvania Avenue. GE Aviation has a couple of similar types of collaboration spaces in Munich and Dubai.
General Electric is poised to grow on the back of stronger innovation, strategic restructuring moves, solid international presence and robust end-market sales. However, over the past three months, shares of this Zacks Rank #4 (Sell) company have lost 8.6% against its industry’s 6.3% growth. Weakening GE Power business remains a key cause for concern with regard to the company.
Stocks to Consider
A few better-ranked stocks in the same space are listed below:
Federal Signal Corporation (FSS - Free Report) sports a Zacks Rank #1 (Strong Buy). The company pulled off an average positive earnings surprise of 22.48% over the past four quarters. You can see the complete list of today’s Zacks #1 Rank stocks here.
Macquarie Infrastructure Corporation (MIC - Free Report) flaunts a Zacks Rank of 1. The company delivered an average beat of 8.05% over the trailing four quarters.
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