GE Sees ?10 Profit Above Estimates

[Stocks-to-Watch]

Shares of General Electric (GE) are on the march this morning, rising 28 cents, or 1.6%, to $17.57, after CFO Keith Sherin said at a Goldman Sachs industrials conference this morning that the company sees earnings per share this year of $1.03, ahead of the 99-cent estimate. (You can listen to the presentation and see slides here.) Sherin described a “snap back” in earnings as losses at its GE Capital finance unit peak this year, reports Briefing.com. The company will have “substantial cash available for capital allocation” as a result, and plans to put that to use, Sherin told the audience.

Kudos to JP Morgan Chase analyst Stephen Tusa, who raised his estimates for the company this morning.

Original Article Source by Barrons.com