Topic: Growth Stocks

The Wall Street Stock Forecaster Hotline – Friday, December 5, 2008

Article Excerpt

GENERAL ELECTRIC CO. $17.85, New York symbol GE, moved up this week after the company said it would further scale back the activities of its struggling finance division. GE Capital now accounts for about 50% of GE’s total earnings. Through sales of certain financing businesses, the company now aims to reduce GE Capital’s earnings contribution to 30% by the end of 2009. GE now feels it will earn $0.50 to $0.52 a share in the fourth quarter of 2008. That’s down from its earlier forecast of $0.50 to $0.65 a share. These figures exclude restructuring and other charges of up to $1.4 billion. Even with these charges, GE will still earn over $18 billion in 2008. The company also plans to keep paying its $1.24 dividend (6.9% yield) in 2009. GE is a buy. DEL MONTE FOODS INC. $6.37, New York symbol DLM, earned $27.3 million in its second fiscal quarter ended October 26, 2008, up 6.2% from $25.7 million a year…