World News: 22:02 GMT Wednesday 15th May 2019. [Yahoo Business News Feed via SPi World News]
General Electric Co tamped down enthusiasm about a quick recovery in its power-plant unit on Wednesday, and an analyst said the company was not 'telling the whole story' about purported market-share gains at its ailing power unit. GE's stock rallied on Tuesday after Reuters reported it had booked six orders for 'advanced class' turbines in the first quarter, topping rivals Mitsubishi Hitachi Power Systems and Siemens AG, according to sources familiar with the closely watched McCoy Power Report. On Wednesday, GE said its power unit will need at least three years to halt its cash hemorrhage and restore its prior cash flow to double-digit cash margins.
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