GE's Immelt Says He Doesn't Want A Big Acquisition In Near-Term

Date : 04/20/2012 @ 10:10AM
Source : Dow Jones News
Stock : General Electric Company (GE)
Quote : 23.83  0.25 (1.06%) @ 7:59PM

GE's Immelt Says He Doesn't Want A Big Acquisition In Near-Term

Gen Electric (NYSE:GE)
Historical Stock Chart

5 Years : From Oct 2012 to Oct 2017

Click Here for more Gen Electric Charts.

General Electric Co. (GE) Chief Executive Jeff Immelt all but swore off big acquisitions by the conglomerate this year, saying Friday that the company is concentrating on integrating previous large deals in the energy sector.

"I just don't want to do a big deal," Immelt said, in response to an analyst's question during GE's post-earnings conference call. "We never say never, but I just don't want to do a big deal right now."

Immelt previously has said he didn't expect any big acquisitions in 2012 after about $12 billion in deals last year.

He reiterated Friday that "small, bolt-on acquisitions" are still a possibility for the company this year.

"But we've got a lot on our plate" already, he added.

GE shares were up about 2.3% in recent trading, at $19.59, after the Fairfield, Conn., conglomerate reported a 12% decline in first-quarter earnings that nonetheless beat Wall Street expectations on an operating basis, fueled by renewed profit growth at its big energy infrastructure division.

-By Bob Sechler; Dow Jones Newswires; 512-258-1690;

Latest GE Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....

No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts

Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.