News Review: General Electric Company, (NYSE:GE), National Bank of Greece, (NYSE:NBG), Halliburton Company, (NYSE:HAL)


On Wednesday, Shares of General Electric Company (NYSE:GE), lost -0.17% to $29.54.

Further solidifying its commitment to expanding and enhancing its electrical distribution equipment capabilities and offerings, GE’s Industrial Solutions business (GE) recently declared it is investing $7.4 million in its West Burlington, Iowa, manufacturing facility and creating 120 new jobs. The investment will be used to expand GE’s medium-voltage product development and production in North America. The declaration was made recently at an on-site ceremony for GE employees and state and local government officials.

Once the new ANSI/IEEE medium-voltage switchgear production line is added, GE’s West Burlington facility will manufacture a full range of medium-voltage solutions counting arc-resistant, air-insulated switchgear for new installations and retrofit applications. Designed with the operator in mind, these fully tested, medium-voltage products have been developed with fewer parts to simplify installation and upkeep. GE will use advanced manufacturing processes to improve product quality and durability, and to ensure its products are made with speed and agility, which will shorten customer lead times.

“Iowa is proud to welcome GE’s expansion and investment in West Burlington,” said Iowa Governor Terry Branstad. “The creation of 120 new jobs and the investment of over $7 million are testaments to the customer demand for the products you make. We are honored to have you in Iowa.”

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.

Shares of National Bank of Greece S.A. (NYSE:NBG), declined -12.89% to $0.72, during its last trading session.

National Bank of Greece, became the last of the nation’s four major lenders to offer a debt exchange as they seek to cover 14.4 billion euros ($16 billion) of capital shortfalls, according to Bloomberg.

The lender intends to exchange 803 million euros of senior and junior bonds for shares, according to a statement released on Monday. There’s no cash alternative in the debt swap, which covers euro, dollar and sterling notes.

National Bank, Piraeus Bank SA, Eurobank Ergasias SA and Alpha Bank AE have declared bond exchanges totaling 3.4 billion euros of debt as they seek to recapitalize following the Greek economy’s near-collapse. The European Central Bank identified a 4.6 billion-euro shortfall at Athens-based National Bank, under stress tests designed to see how the four lenders would perform if the economy deteriorated further. Bloomberg Reports

National Bank of Greece S.A., together with its auxiliaries, provides diversified financial services. The company is involved in retail and commercial banking, asset administration, investment banking, brokerage, and insurance activities. It offers current accounts, deposit multiproducts, deposits in foreign currency, savings accounts, sight accounts, and time deposit accounts.

Finally, Shares of Halliburton Company (NYSE:HAL), ended its last trade with -2.10% loss, and closed at $39.21.

Halliburton Company, declared that its board of directors has declared a 2015 fourth quarter dividend of eighteen cents ($0.18) a share on the company’s common stock payable December 24, 2015, to shareholders of record at the close of business on December 3, 2015.

Halliburton Company provides a range of services and products to the upstream oil and natural gas industry worldwide. The company operates through two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment provides production enhancement services, counting stimulation services and sand control services; and cementing services that comprise bonding the well and well casing, and casing equipment.

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Been writing about and trading stocks since 2013. Manage a group of micro-cap investors on Facebook with over 15,000 members. Turned $8,500 into 185k the first year I started trading stocks and haven't looked back.