dChan
Anonymous ID: ba76fc May 9, 2022, 7:36 p.m. No.16245234   🗄️.is đź”—kun   >>5281 >>5436 >>5522

General Electric Co, sold Baker Hughes Co.:$2.4B-May 6

 

Baker Hughes Company specializes in the design, manufacturing and marketing of systems and equipment intended for the oil and gas industries. Net sales break down by family of products and services as follows:

  • equipment and services for the construction, operation, drilling and evaluation of wells (62.7%);

  • gas turbines and compressors (27.6%);

  • industrial services (9.7%).

Export accounts for 78.1% of net sales. Number of employees : 54 000 people.

 

Baker Hughes (NYSE:BKR) Major Shareholder Electric Co General Sells 72,025,826 Shares

Baker Hughes (NYSE:BKR – Get Rating) major shareholder Electric Co General sold 72,025,826 shares of the firm’s stock in a transaction dated Friday, May 6th. The stock was sold at an average price of $34.45, for a total value of $2,481,289,705.70. Following the completion of the transaction, the insider now owns 3,931,363 shares in the company, valued at $135,435,455.35. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC. Shares of BKR traded down $2.08 during trading on Monday, reaching $30.05. The company’s stock had a trading volume of 13,365,309 shares, compared to its average volume of 11,464,782. The company has a fifty day moving average of $34.82 and a two-hundred day moving average of $28.98. Baker Hughes has a twelve month low of $19.23 and a twelve month high of $39.78. The company has a market cap of $30.88 billion, a price-to-earnings ratio of 91.06 and a beta of 1.52. The company has a quick ratio of 1.15, a current ratio of 1.61 and a debt-to-equity ratio of 0.40.

https://www.marketscreener.com/quote/stock/BAKER-HUGHES-COMPANY-40311111/company/

https://www.defenseworld.net/2022/05/09/baker-hughes-nysebkr-major-shareholder-electric-co-general-sells-72025826-shares.html

https://finviz.com/insidertrading.ashx?oc=40545&tc=7&b=2

Anonymous ID: ba76fc May 9, 2022, 7:41 p.m. No.16245268   🗄️.is đź”—kun   >>5436 >>5522

Tesla Halts Output at Shanghai Plant on Supply Issues

 

Tesla Inc. has halted production at its plant in Shanghai due to supply issues, Reuters reported Tuesday, citing people familiar with the matter it didn’t identify.

 

It’s not clear when the supply issues can be resolved or when the electric carmaker can resume production in China, according to the report. One of the problems stems from a shortage of wire harnesses from Aptiv Plc, which had to stop shipping supplies from a plant that supplies Tesla and General Motors Co. after infections were found among its employees, Reuters said. Tesla representatives didn’t immediately respond to a request for comment.

 

Tesla’s China factory was shuttered for three weeks in April as Shanghai was plunged into lockdown in an attempt to halt community spread of Covid-19. The plant started up again in late April under a so-called closed loop system whereby workers live on site and are tested regularly. Prior to the pandemic-induced halt on March 28, Tesla workers in Shanghai were working three shifts covering 24 hours, seven days a week. The workers in the current closed-loop system have been doing 12-hour shifts, six days a week.

 

Tesla’s Shanghai factory, which in regular times pumps out around 2,100 cars a day, remains challenged by component shortages, other people familiar said last month. The U.S. automaker only has inventory for just over two weeks based on its current closed-loop schedule and logistics are a major problem for many other parts.

https://www.bnnbloomberg.ca/tesla-halts-output-at-shanghai-plant-on-supply-issues-reuters-1.1763501

Anonymous ID: ba76fc May 9, 2022, 7:53 p.m. No.16245362   🗄️.is đź”—kun   >>5380 >>5390 >>5436 >>5522

China Tech Stocks Tumble Near 7% as Traders Return From Holiday

 

https://www.investing.com/indices/hang-sen-40Chinese tech stocks sank as Hong Kong markets reopened after a holiday to face renewed growth worries and persistent regulatory risks, sparking another bout of selling.

 

The Hang Seng Tech Index plunged almost 7% early Tuesday, headed for a fifth straight session of declines. Key equities gauges across the region all slumped, with the Hang Seng China Enterprises Index of big Chinese firms in the city sliding more than 4%.

 

The broad decline tracks a global selloff that intensified after the Federal Reserve hiked rates by 50 basis points last week. China is showing no signs of letup in its stringent Covid Zero policy that’s already hurt businesses, and there are growing indications the damage is rippling through the global economy.

 

Meantime, Chinese regulators further tightened their grip on the internet industry over the weekend, banning younger users from sending virtual gifts on livestream platforms. The latest action came despite a string of recent promises by the authorities to take a softer stance on the industry, putting investors on edge again.

 

While Hong Kong’s market was shut for a public holiday on Monday, Chinese Premier Li Keqiang warned of a “complicated and grave” employment situation as Beijing and Shanghai tightened curbs on residents in a bid to contain Covid outbreak. Meantime, BlackRock Inc jettisoned its bullish stance on China, saying Covid lockdowns jeopardize the nation’s economic growth.

https://www.investing.com/news/stock-market-news/china-tech-stocks-tumble-near-7-as-traders-return-from-holiday-2821079