On Monday, Shares of General Electric Company (NYSE:GE), added 0.23% and closed at $30.90 in the last trading session. The last trading range of the stock ranges between $30.60 31.00.
General Electric Company declared that it has signed a purchase agreement to acquire Metem Corporation, a U.S.-based provider of precision cooling hole manufacturing technologies that enable turbine engines to function more efficiently, saving costs, increasing operation time and reducing emissions.
Heavy-duty gas turbines are subject to very high temperatures during operations, making metals weaker. With heavy-duty gas turbine blades operating under high temperatures and experiencing noteworthy centrifugal stresses, turbine blade cooling is an important component of GE’s next generation of advanced gas turbines. To realize supply chain efficiencies and reduce costs, GE made the decision to bring cooling hole-drilling capability in-house by acquiring Metem.
GE and Metem have had a very strong relationship since the 1970s, driven by Metem’s record of innovation and technology development and the strength of its world-class workforce. As a result, GE is Metem’s largest customer recently. This acquisition is very planned for GE Power, as demand for advanced manufacturing technologies significantly improvements as products evolve. GE envisions building out the capabilities and capacity of the Metem network.
Intel Corporation (NASDAQ:INTC), lost -0.14% and closed at $34.93 in the last trading session. The company’s market capitalization is $164.83B.
Intel Corporation declared that it has accomplished the acquisition of Altera Corporation (“Altera”), a leading provider of field-programmable gate array (FPGA) technology. The acquisition complements Intel’s leading-edge product portfolio and enables new classes of products in the high-growth data center and Internet of Things (IoT) market segments.
Altera will operate as a new Intel business unit called the Programmable Solutions Group (PSG), led by Altera veteran Dan McNamara. Intel is committed to a smooth transition for Altera customers and will continue the support and future product development of Altera’s many products, counting FPGA, ARM®-based SoC and power products. In addition to strengthening the existing FPGA business, PSG will work closely with Intel’s Data Center Group and IoT Group to deliver the next generation of highly customized, integrated products and solutions.
Intel anticipates the acquisition to be accretive to non-GAAP EPS and free cash flow in the first full year after close, consstent with prior guidance. Intel anticipates the acquisition to be dilutive to GAAP EPS in the first full year after close primarily due to acquisition-related costs.
Shares of Harmony Gold Mining Company Limited (NYSE:HMY), ended its last trade with -7.48% loss, and closed at $0.95. The Average Volume of the company is at 2,061,200. The EPS of the company stands at $-0.72. Harmony Gold Mining Co. Ltd. has an earnings momentum score of 24.63 and has a relative valuation rating of UNDERVALUED.
Harmony Gold Mining Company Limited engages in the exploration and mining of gold in South Africa and Papua New Guinea. The company also explores for copper, silver, uranium, and molybdenum deposits.
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