路客大酥的个人主页 - 老虎社区

路客大酥

路客大酥

暂无个人介绍

IP属地：上海

22关注

0粉丝

5主题

0勋章

2021-02-05

$ReWalk Robotics(RWLK)$吃到了一块小肉肉

2021-03-10

管理层脑子坏特了

GE Announced Tons Wednesday. This Was the Real Bombshell.<blockquote>通用电气周三宣布了吨。这才是真正的重磅炸弹。</blockquote>

2021-04-09

话说特么咋默认界面变成这个啊？我是想要蜡烛图啊，这是啥烂玩意儿啊？升级后这么惨？

2021-03-10

$通用电气(GE)$ 为什么反向拆分股票啊？**！

去老虎APP查看更多动态

{"i18n":{"language":"zh_CN"},"userPageInfo":{"id":"3473384394414683","uuid":"3473384394414683","gmtCreate":1510365198078,"gmtModify":1612514395510,"name":"路客大酥","pinyin":"lkdslukedasu","introduction":"","introductionEn":"","signature":"","avatar":"https://static.tigerbbs.com/b1742529d3f0da6677967cad04600d24","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":0,"headSize":22,"tweetSize":4,"questionSize":0,"limitLevel":900,"accountStatus":4,"level":{"id":2,"name":"无畏虎","nameTw":"無畏虎","represent":"初生牛犊","factor":"发布3条非转发主帖,1条获得他人回复或点赞","iconColor":"3C9E83","bgColor":"A2F1D9"},"themeCounts":5,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":null,"userBadges":[{"badgeId":"35ec162348d5460f88c959321e554969-3","templateUuid":"35ec162348d5460f88c959321e554969","name":"传说交易员","description":"证券或期货账户累计交易次数达到300次","bigImgUrl":"https://static.tigerbbs.com/656db16598a0b8f21429e10d6c1cb033","smallImgUrl":"https://static.tigerbbs.com/03f10910d4dd9234f9b5702a3342193a","grayImgUrl":"https://static.tigerbbs.com/0c767e35268feb729d50d3fa9a386c5a","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2025.08.22","exceedPercentage":"93.67%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100},{"badgeId":"228c86a078844d74991fff2b7ab2428d-3","templateUuid":"228c86a078844d74991fff2b7ab2428d","name":"投资合伙人虎","description":"证券账户累计交易金额达到100万美元","bigImgUrl":"https://static.tigerbbs.com/fbeac6bb240db7da8b972e5183d050ba","smallImgUrl":"https://static.tigerbbs.com/436cdf80292b99f0a992e78750ac4e3a","grayImgUrl":"https://static.tigerbbs.com/506a259a7b456f037592c3b23c779599","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.07.14","exceedPercentage":"93.85%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1101},{"badgeId":"e50ce593bb40487ebfb542ca54f6a561-4","templateUuid":"e50ce593bb40487ebfb542ca54f6a561","name":"明星虎友","description":"加入老虎社区2000天","bigImgUrl":"https://static.tigerbbs.com/dddf24b906c7011de2617d4fb3f76987","smallImgUrl":"https://static.tigerbbs.com/53d58ad32c97254c6f74db8b97e6ec49","grayImgUrl":"https://static.tigerbbs.com/6304700d92ad91c7a33e2e92ec32ecc1","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.05.05","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001},{"badgeId":"976c19eed35f4cd78f17501c2e99ef37-1","templateUuid":"976c19eed35f4cd78f17501c2e99ef37","name":"博闻投资者","description":"累计交易超过10只正股","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1102},{"badgeId":"518b5610c3e8410da5cfad115e4b0f5a-1","templateUuid":"518b5610c3e8410da5cfad115e4b0f5a","name":"实盘交易者","description":"完成一笔实盘交易","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100}],"userBadgeCount":5,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":8,"crmLevelSwitch":0,"location":"上海","starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":3,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"hot","tweets":[{"id":348512309,"gmtCreate":1617940423301,"gmtModify":1617940423301,"author":{"id":"3473384394414683","authorId":"3473384394414683","name":"路客大酥","avatar":"https://static.tigerbbs.com/b1742529d3f0da6677967cad04600d24","crmLevel":8,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3473384394414683","idStr":"3473384394414683"},"themes":[],"htmlText":"话说特么咋默认界面变成这个啊？我是想要蜡烛图啊，这是啥烂玩意儿啊？升级后这么惨？","listText":"话说特么咋默认界面变成这个啊？我是想要蜡烛图啊，这是啥烂玩意儿啊？升级后这么惨？","text":"话说特么咋默认界面变成这个啊？我是想要蜡烛图啊，这是啥烂玩意儿啊？升级后这么惨？","images":[{"img":"https://static.tigerbbs.com/5da6607cf37207dc8ff081dc80bda4e3","width":"1284","height":"2778"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/348512309","isVote":1,"tweetType":1,"viewCount":3456,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":321306633,"gmtCreate":1615391756222,"gmtModify":1703488461251,"author":{"id":"3473384394414683","authorId":"3473384394414683","name":"路客大酥","avatar":"https://static.tigerbbs.com/b1742529d3f0da6677967cad04600d24","crmLevel":8,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3473384394414683","idStr":"3473384394414683"},"themes":[],"htmlText":"管理层脑子坏特了","listText":"管理层脑子坏特了","text":"管理层脑子坏特了","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/321306633","repostId":"1176282144","repostType":2,"repost":{"id":"1176282144","kind":"news","pubTimestamp":1615389675,"share":"https://www.laohu8.com/m/news/1176282144?lang=zh_CN&edition=full","pubTime":"2021-03-10 23:21","market":"us","language":"en","title":"GE Announced Tons Wednesday. This Was the Real Bombshell.<blockquote>通用电气周三宣布了吨。这才是真正的重磅炸弹。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1176282144","media":"Barrons","summary":"General Electricis having a very busy day, with news that it sold itsjet-leasing business to AerCapa","content":"<p>General Electricis having a very busy day, with news that it sold itsjet-leasing business&nbsp;to&nbsp;AerCapand financial forecasts for 2021. But the multibillion-dollar deal and theoutlookfor the post-pandemic industrial landscape take a back seat to the conglomerate’s plan for a reverse stock split.</p><p><blockquote>通用电气公司度过了非常忙碌的一天，有消息称其将飞机租赁业务出售给Aerca，并发布了2021年的财务预测。但这笔价值数十亿美元的交易和大流行后工业格局的前景让位于该集团的反向股票分割计划。</blockquote></p><p> General Electric (ticker: GE) is proposing to give investors one share for every eight they now hold. That will take its share price to about $112, based on recent levels, reducing the shares outstanding to about 1.1 billion from a little less than9 billion.</p><p><blockquote>通用电气（股票代码：GE）提议向投资者提供他们目前持有的每八股股票中的一股。根据近期水平，这将使其股价升至约112美元，流通股从略低于90亿股减少至约11亿股。</blockquote></p><p> The question is why? Most companiesspit their stock, creating a lower share price and more shares outstanding, as stock prices rise over time. Companies appear to like to have a stock price at a certain level, following the Goldilocks principle of not too high and not too low.</p><p><blockquote>问题是为什么？随着股价随着时间的推移而上涨，大多数公司都会抛售股票，从而导致股价下跌和流通股增加。公司似乎喜欢将股价保持在一定水平，遵循不太高也不太低的金发姑娘原则。</blockquote></p><p> That appears to be the reason for this reverse split, too. A scan of GE’s peers shows share prices in the $100 to $200 range and share counts in the hundreds of millions. GE simply looks like an outlier.</p><p><blockquote>这似乎也是这种反向分裂的原因。对通用电气同行的扫描显示，股价在100美元至200美元之间，股票数量高达数亿股。通用电气看起来只是一个局外人。</blockquote></p><p> Investors like splits. They take them as a sign that things are getting better and that management expects prices to rise in the near future. Reverse splits, on the other hand, can make investors nervous. They can be interpreted as a sign the business is getting worse.</p><p><blockquote>投资者喜欢拆分。他们认为这是情况正在好转的迹象，管理层预计价格将在不久的将来上涨。另一方面，反向拆分可能会让投资者感到紧张。它们可以被解释为生意越来越差的迹象。</blockquote></p><p> The academic data appears to bear that fear out. A<i>Journal of Finance</i>study partly authored by Nobel laureate Eugene Fama found that splits are favorable and that reverse splits are ominous for one- and three-year forward stock returns. Splitters outperform the market and reverse splitters lag behind it.</p><p><blockquote>学术数据似乎证实了这种担忧。一个<i>金融学报</i>诺贝尔奖获得者尤金·法玛（Eugene Fama）部分撰写的研究发现，分拆是有利的，而反向分拆对于一年和三年的远期股票回报来说是不祥之兆。分离器跑赢市场，反向分离器落后。</blockquote></p><p> But there are a few caveats. First, the data set included almost 6,000 stock splits, but fewer than 100 reverse splits. Reverse splits are very rare. It’s tough to make a blanket statement from a small data set.</p><p><blockquote>但是有一些警告。首先，数据集包括近6,000次股票分割，但反向分割不到100次。反向分裂非常罕见。很难从一个小数据集中做出总括性的陈述。</blockquote></p><p> What is more, many academic papers look at old data. The Fama data set includes stocks trading in the 1970s, 1980s and 1990s. A lot has changed in the marketplace since then.</p><p><blockquote>更重要的是，许多学术论文着眼于旧数据。Fama数据集包括20世纪70年代、80年代和90年代的股票交易。从那时起，市场发生了很大变化。</blockquote></p><p> One common theme of stock-split studies, for instance, is a split’s impact on overall liquidity. A lower share price is simply within reach of more shareholders. More investors means more stock trading on any given day. That can make shares less volatile and less risky.</p><p><blockquote>例如，股票分割研究的一个共同主题是分割对整体流动性的影响。更低的股价对于更多股东来说是触手可及的。更多的投资者意味着任何一天都有更多的股票交易。这可以降低股票的波动性和风险。</blockquote></p><p> Now, though, brokers offer share “slices” for as little as $5, essentially giving stock exposure to anyone who wants it, despite the absolute level any stock trades at.</p><p><blockquote>然而现在，经纪商以低至5美元的价格提供股票“切片”，本质上是向任何想要的人提供股票敞口，尽管任何股票的交易绝对水平。</blockquote></p><p> Concern about a deteriorating business may not be a factor with GE’s reverse split. The company isn’t what it once was, but that is old news. GE stock is down roughly 75% from its all-time high, but the slide happened long ago. CEOLarry Culpwas brought in during 2018 to turn around struggling operations.</p><p><blockquote>对业务恶化的担忧可能不是通用电气反向分拆的一个因素。该公司已今非昔比，但这已是旧闻。GE股价较历史高点下跌约75%，但这种下滑发生在很久以前。首席执行官拉里·卡尔普(Larry Culpwas)于2018年上任，旨在扭转陷入困境的运营。</blockquote></p><p> A lot of progress has been made. GE has paid back more than $70 billion in debt over the past few years. Deals such as the jet-leasing sale toAerCap(AER), the sale of the biopharma business toDanaher(DHR) and sales of stock in the oil-services providerBaker Hughes(BKR) are making the reduction possible.</p><p><blockquote>已经取得了很多进展。通用电气在过去几年中偿还了超过700亿美元的债务。向AerCap(AER)出售喷气式飞机租赁业务、向丹纳赫(DHR)出售生物制药业务以及出售石油服务提供商贝克休斯(BKR)股票等交易使削减成为可能。</blockquote></p><p> Despite the pandemic, which devastated demand for travel and the jet-aircraft engines GE makes, the stock is trading at the highest level since Culp took over. Coming into Wednesday, shares were up about30% year to date, far better than comparable gains of theS&amp;P 500andDow Jones Industrial Average.</p><p><blockquote>尽管疫情摧毁了旅行和通用电气制造的喷气式飞机发动机的需求，但该股的交易价格仍处于卡尔普接任以来的最高水平。截至周三，该股今年迄今已上涨约30%，远好于标准普尔500指数和道琼斯工业平均指数的可比涨幅。</blockquote></p><p> Investors are focusing now on what GE said about its future. GEmaintained its forecastsfor about 20 cents in per-share earnings and about $3.5 billion in free cash flow for 2021. Management says there will be modest growth in the key aviation business.</p><p><blockquote>投资者现在关注通用电气对其未来的看法。GE维持2021年每股收益约20美分、自由现金流约35亿美元的预测。管理层表示，关键航空业务将适度增长。</blockquote></p><p> That limited growth would return GE Aviation’s sales to levels realized around 2017, far from their pre-pandemic level in 201. That looks like a cautious call now that vaccines are rolling out across the globe, but Culp is fine with that.</p><p><blockquote>这种有限的增长将使GE航空集团的销售额恢复到2017年左右的水平，远低于201年大流行前的水平。现在疫苗正在全球推广，这看起来像是一个谨慎的看涨期权，但卡尔普对此并不介意。</blockquote></p><p> ““We won’t be offended if [anyone] calls us conservative,” he told<i>Barron’s</i>.</p><p><blockquote>“如果（任何人）评级美国保守派，我们不会被冒犯，”他说<i>巴伦周刊</i>.</blockquote></p><p> Being conservative is probably the right move for GE given all the internal and industrywide challenges the company has faced in recent years.</p><p><blockquote>鉴于通用电气近年来面临的所有内部和全行业挑战，保守可能是该公司的正确举措。</blockquote></p><p> The stock split is neither conservative nor aggressive. But it is another sign things are changing and that GE wants to be viewed as an industrial conglomerate, and not as the hybrid of manufacturing and finance the company became during the 1990s and 2000s.</p><p><blockquote>股票分割既不保守也不激进。但这是情况正在发生变化的另一个迹象，表明通用电气希望被视为一家工业集团，而不是该公司在20世纪90年代和21世纪初成为的制造和金融的混合体。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GE Announced Tons Wednesday. This Was the Real Bombshell.<blockquote>通用电气周三宣布了吨。这才是真正的重磅炸弹。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGE Announced Tons Wednesday. This Was the Real Bombshell.<blockquote>通用电气周三宣布了吨。这才是真正的重磅炸弹。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-03-10 23:21</span>\n</p>\n</h4>\n</header>\n<article>\n<p>General Electricis having a very busy day, with news that it sold itsjet-leasing business&nbsp;to&nbsp;AerCapand financial forecasts for 2021. But the multibillion-dollar deal and theoutlookfor the post-pandemic industrial landscape take a back seat to the conglomerate’s plan for a reverse stock split.</p><p><blockquote>通用电气公司度过了非常忙碌的一天，有消息称其将飞机租赁业务出售给Aerca，并发布了2021年的财务预测。但这笔价值数十亿美元的交易和大流行后工业格局的前景让位于该集团的反向股票分割计划。</blockquote></p><p> General Electric (ticker: GE) is proposing to give investors one share for every eight they now hold. That will take its share price to about $112, based on recent levels, reducing the shares outstanding to about 1.1 billion from a little less than9 billion.</p><p><blockquote>通用电气（股票代码：GE）提议向投资者提供他们目前持有的每八股股票中的一股。根据近期水平，这将使其股价升至约112美元，流通股从略低于90亿股减少至约11亿股。</blockquote></p><p> The question is why? Most companiesspit their stock, creating a lower share price and more shares outstanding, as stock prices rise over time. Companies appear to like to have a stock price at a certain level, following the Goldilocks principle of not too high and not too low.</p><p><blockquote>问题是为什么？随着股价随着时间的推移而上涨，大多数公司都会抛售股票，从而导致股价下跌和流通股增加。公司似乎喜欢将股价保持在一定水平，遵循不太高也不太低的金发姑娘原则。</blockquote></p><p> That appears to be the reason for this reverse split, too. A scan of GE’s peers shows share prices in the $100 to $200 range and share counts in the hundreds of millions. GE simply looks like an outlier.</p><p><blockquote>这似乎也是这种反向分裂的原因。对通用电气同行的扫描显示，股价在100美元至200美元之间，股票数量高达数亿股。通用电气看起来只是一个局外人。</blockquote></p><p> Investors like splits. They take them as a sign that things are getting better and that management expects prices to rise in the near future. Reverse splits, on the other hand, can make investors nervous. They can be interpreted as a sign the business is getting worse.</p><p><blockquote>投资者喜欢拆分。他们认为这是情况正在好转的迹象，管理层预计价格将在不久的将来上涨。另一方面，反向拆分可能会让投资者感到紧张。它们可以被解释为生意越来越差的迹象。</blockquote></p><p> The academic data appears to bear that fear out. A<i>Journal of Finance</i>study partly authored by Nobel laureate Eugene Fama found that splits are favorable and that reverse splits are ominous for one- and three-year forward stock returns. Splitters outperform the market and reverse splitters lag behind it.</p><p><blockquote>学术数据似乎证实了这种担忧。一个<i>金融学报</i>诺贝尔奖获得者尤金·法玛（Eugene Fama）部分撰写的研究发现，分拆是有利的，而反向分拆对于一年和三年的远期股票回报来说是不祥之兆。分离器跑赢市场，反向分离器落后。</blockquote></p><p> But there are a few caveats. First, the data set included almost 6,000 stock splits, but fewer than 100 reverse splits. Reverse splits are very rare. It’s tough to make a blanket statement from a small data set.</p><p><blockquote>但是有一些警告。首先，数据集包括近6,000次股票分割，但反向分割不到100次。反向分裂非常罕见。很难从一个小数据集中做出总括性的陈述。</blockquote></p><p> What is more, many academic papers look at old data. The Fama data set includes stocks trading in the 1970s, 1980s and 1990s. A lot has changed in the marketplace since then.</p><p><blockquote>更重要的是，许多学术论文着眼于旧数据。Fama数据集包括20世纪70年代、80年代和90年代的股票交易。从那时起，市场发生了很大变化。</blockquote></p><p> One common theme of stock-split studies, for instance, is a split’s impact on overall liquidity. A lower share price is simply within reach of more shareholders. More investors means more stock trading on any given day. That can make shares less volatile and less risky.</p><p><blockquote>例如，股票分割研究的一个共同主题是分割对整体流动性的影响。更低的股价对于更多股东来说是触手可及的。更多的投资者意味着任何一天都有更多的股票交易。这可以降低股票的波动性和风险。</blockquote></p><p> Now, though, brokers offer share “slices” for as little as $5, essentially giving stock exposure to anyone who wants it, despite the absolute level any stock trades at.</p><p><blockquote>然而现在，经纪商以低至5美元的价格提供股票“切片”，本质上是向任何想要的人提供股票敞口，尽管任何股票的交易绝对水平。</blockquote></p><p> Concern about a deteriorating business may not be a factor with GE’s reverse split. The company isn’t what it once was, but that is old news. GE stock is down roughly 75% from its all-time high, but the slide happened long ago. CEOLarry Culpwas brought in during 2018 to turn around struggling operations.</p><p><blockquote>对业务恶化的担忧可能不是通用电气反向分拆的一个因素。该公司已今非昔比，但这已是旧闻。GE股价较历史高点下跌约75%，但这种下滑发生在很久以前。首席执行官拉里·卡尔普(Larry Culpwas)于2018年上任，旨在扭转陷入困境的运营。</blockquote></p><p> A lot of progress has been made. GE has paid back more than $70 billion in debt over the past few years. Deals such as the jet-leasing sale toAerCap(AER), the sale of the biopharma business toDanaher(DHR) and sales of stock in the oil-services providerBaker Hughes(BKR) are making the reduction possible.</p><p><blockquote>已经取得了很多进展。通用电气在过去几年中偿还了超过700亿美元的债务。向AerCap(AER)出售喷气式飞机租赁业务、向丹纳赫(DHR)出售生物制药业务以及出售石油服务提供商贝克休斯(BKR)股票等交易使削减成为可能。</blockquote></p><p> Despite the pandemic, which devastated demand for travel and the jet-aircraft engines GE makes, the stock is trading at the highest level since Culp took over. Coming into Wednesday, shares were up about30% year to date, far better than comparable gains of theS&amp;P 500andDow Jones Industrial Average.</p><p><blockquote>尽管疫情摧毁了旅行和通用电气制造的喷气式飞机发动机的需求，但该股的交易价格仍处于卡尔普接任以来的最高水平。截至周三，该股今年迄今已上涨约30%，远好于标准普尔500指数和道琼斯工业平均指数的可比涨幅。</blockquote></p><p> Investors are focusing now on what GE said about its future. GEmaintained its forecastsfor about 20 cents in per-share earnings and about $3.5 billion in free cash flow for 2021. Management says there will be modest growth in the key aviation business.</p><p><blockquote>投资者现在关注通用电气对其未来的看法。GE维持2021年每股收益约20美分、自由现金流约35亿美元的预测。管理层表示，关键航空业务将适度增长。</blockquote></p><p> That limited growth would return GE Aviation’s sales to levels realized around 2017, far from their pre-pandemic level in 201. That looks like a cautious call now that vaccines are rolling out across the globe, but Culp is fine with that.</p><p><blockquote>这种有限的增长将使GE航空集团的销售额恢复到2017年左右的水平，远低于201年大流行前的水平。现在疫苗正在全球推广，这看起来像是一个谨慎的看涨期权，但卡尔普对此并不介意。</blockquote></p><p> ““We won’t be offended if [anyone] calls us conservative,” he told<i>Barron’s</i>.</p><p><blockquote>“如果（任何人）评级美国保守派，我们不会被冒犯，”他说<i>巴伦周刊</i>.</blockquote></p><p> Being conservative is probably the right move for GE given all the internal and industrywide challenges the company has faced in recent years.</p><p><blockquote>鉴于通用电气近年来面临的所有内部和全行业挑战，保守可能是该公司的正确举措。</blockquote></p><p> The stock split is neither conservative nor aggressive. But it is another sign things are changing and that GE wants to be viewed as an industrial conglomerate, and not as the hybrid of manufacturing and finance the company became during the 1990s and 2000s.</p><p><blockquote>股票分割既不保守也不激进。但这是情况正在发生变化的另一个迹象，表明通用电气希望被视为一家工业集团，而不是该公司在20世纪90年代和21世纪初成为的制造和金融的混合体。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/ge-announced-tons-wednesday-this-was-the-real-bombshell-51615389095?mod=RTA\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GE":"GE航空航天"},"source_url":"https://www.barrons.com/articles/ge-announced-tons-wednesday-this-was-the-real-bombshell-51615389095?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1176282144","content_text":"General Electricis having a very busy day, with news that it sold itsjet-leasing business to AerCapand financial forecasts for 2021. But the multibillion-dollar deal and theoutlookfor the post-pandemic industrial landscape take a back seat to the conglomerate’s plan for a reverse stock split.\nGeneral Electric (ticker: GE) is proposing to give investors one share for every eight they now hold. That will take its share price to about $112, based on recent levels, reducing the shares outstanding to about 1.1 billion from a little less than9 billion.\nThe question is why? Most companiesspit their stock, creating a lower share price and more shares outstanding, as stock prices rise over time. Companies appear to like to have a stock price at a certain level, following the Goldilocks principle of not too high and not too low.\nThat appears to be the reason for this reverse split, too. A scan of GE’s peers shows share prices in the $100 to $200 range and share counts in the hundreds of millions. GE simply looks like an outlier.\nInvestors like splits. They take them as a sign that things are getting better and that management expects prices to rise in the near future. Reverse splits, on the other hand, can make investors nervous. They can be interpreted as a sign the business is getting worse.\nThe academic data appears to bear that fear out. AJournal of Financestudy partly authored by Nobel laureate Eugene Fama found that splits are favorable and that reverse splits are ominous for one- and three-year forward stock returns. Splitters outperform the market and reverse splitters lag behind it.\nBut there are a few caveats. First, the data set included almost 6,000 stock splits, but fewer than 100 reverse splits. Reverse splits are very rare. It’s tough to make a blanket statement from a small data set.\nWhat is more, many academic papers look at old data. The Fama data set includes stocks trading in the 1970s, 1980s and 1990s. A lot has changed in the marketplace since then.\nOne common theme of stock-split studies, for instance, is a split’s impact on overall liquidity. A lower share price is simply within reach of more shareholders. More investors means more stock trading on any given day. That can make shares less volatile and less risky.\nNow, though, brokers offer share “slices” for as little as $5, essentially giving stock exposure to anyone who wants it, despite the absolute level any stock trades at.\nConcern about a deteriorating business may not be a factor with GE’s reverse split. The company isn’t what it once was, but that is old news. GE stock is down roughly 75% from its all-time high, but the slide happened long ago. CEOLarry Culpwas brought in during 2018 to turn around struggling operations.\nA lot of progress has been made. GE has paid back more than $70 billion in debt over the past few years. Deals such as the jet-leasing sale toAerCap(AER), the sale of the biopharma business toDanaher(DHR) and sales of stock in the oil-services providerBaker Hughes(BKR) are making the reduction possible.\nDespite the pandemic, which devastated demand for travel and the jet-aircraft engines GE makes, the stock is trading at the highest level since Culp took over. Coming into Wednesday, shares were up about30% year to date, far better than comparable gains of theS&P 500andDow Jones Industrial Average.\nInvestors are focusing now on what GE said about its future. GEmaintained its forecastsfor about 20 cents in per-share earnings and about $3.5 billion in free cash flow for 2021. Management says there will be modest growth in the key aviation business.\nThat limited growth would return GE Aviation’s sales to levels realized around 2017, far from their pre-pandemic level in 201. That looks like a cautious call now that vaccines are rolling out across the globe, but Culp is fine with that.\n““We won’t be offended if [anyone] calls us conservative,” he toldBarron’s.\nBeing conservative is probably the right move for GE given all the internal and industrywide challenges the company has faced in recent years.\nThe stock split is neither conservative nor aggressive. But it is another sign things are changing and that GE wants to be viewed as an industrial conglomerate, and not as the hybrid of manufacturing and finance the company became during the 1990s and 2000s.","news_type":1,"symbols_score_info":{"GE":0.9}},"isVote":1,"tweetType":1,"viewCount":3051,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":321901290,"gmtCreate":1615387687510,"gmtModify":1703488318032,"author":{"id":"3473384394414683","authorId":"3473384394414683","name":"路客大酥","avatar":"https://static.tigerbbs.com/b1742529d3f0da6677967cad04600d24","crmLevel":8,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3473384394414683","idStr":"3473384394414683"},"themes":[],"htmlText":"<a target=\"_blank\" href=\"https://laohu8.com/S/GE\">$通用电气(GE)$</a> 为什么反向拆分股票啊？**！","listText":"<a target=\"_blank\" href=\"https://laohu8.com/S/GE\">$通用电气(GE)$</a> 为什么反向拆分股票啊？**！","text":"$通用电气(GE)$ 为什么反向拆分股票啊？**！","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/321901290","isVote":1,"tweetType":1,"viewCount":2448,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":380305378,"gmtCreate":1612511946594,"gmtModify":1703762890502,"author":{"id":"3473384394414683","authorId":"3473384394414683","name":"路客大酥","avatar":"https://static.tigerbbs.com/b1742529d3f0da6677967cad04600d24","crmLevel":8,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3473384394414683","idStr":"3473384394414683"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/RWLK\">$ReWalk Robotics(RWLK)$</a>吃到了一块小肉肉","listText":"<a href=\"https://laohu8.com/S/RWLK\">$ReWalk Robotics(RWLK)$</a>吃到了一块小肉肉","text":"$ReWalk Robotics(RWLK)$吃到了一块小肉肉","images":[{"img":"https://static.tigerbbs.com/b89fe4259e7b66620f5cbc9b9edfa0f0","width":"1242","height":"2208"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/380305378","isVote":1,"tweetType":1,"viewCount":2765,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0}],"hots":[{"id":380305378,"gmtCreate":1612511946594,"gmtModify":1703762890502,"author":{"id":"3473384394414683","authorId":"3473384394414683","name":"路客大酥","avatar":"https://static.tigerbbs.com/b1742529d3f0da6677967cad04600d24","crmLevel":8,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3473384394414683","authorIdStr":"3473384394414683"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/RWLK\">$ReWalk Robotics(RWLK)$</a>吃到了一块小肉肉","listText":"<a href=\"https://laohu8.com/S/RWLK\">$ReWalk Robotics(RWLK)$</a>吃到了一块小肉肉","text":"$ReWalk Robotics(RWLK)$吃到了一块小肉肉","images":[{"img":"https://static.tigerbbs.com/b89fe4259e7b66620f5cbc9b9edfa0f0","width":"1242","height":"2208"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/380305378","isVote":1,"tweetType":1,"viewCount":2765,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":321306633,"gmtCreate":1615391756222,"gmtModify":1703488461251,"author":{"id":"3473384394414683","authorId":"3473384394414683","name":"路客大酥","avatar":"https://static.tigerbbs.com/b1742529d3f0da6677967cad04600d24","crmLevel":8,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3473384394414683","authorIdStr":"3473384394414683"},"themes":[],"htmlText":"管理层脑子坏特了","listText":"管理层脑子坏特了","text":"管理层脑子坏特了","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/321306633","repostId":"1176282144","repostType":2,"repost":{"id":"1176282144","kind":"news","pubTimestamp":1615389675,"share":"https://www.laohu8.com/m/news/1176282144?lang=zh_CN&edition=full","pubTime":"2021-03-10 23:21","market":"us","language":"en","title":"GE Announced Tons Wednesday. This Was the Real Bombshell.<blockquote>通用电气周三宣布了吨。这才是真正的重磅炸弹。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1176282144","media":"Barrons","summary":"General Electricis having a very busy day, with news that it sold itsjet-leasing business to AerCapa","content":"<p>General Electricis having a very busy day, with news that it sold itsjet-leasing business&nbsp;to&nbsp;AerCapand financial forecasts for 2021. But the multibillion-dollar deal and theoutlookfor the post-pandemic industrial landscape take a back seat to the conglomerate’s plan for a reverse stock split.</p><p><blockquote>通用电气公司度过了非常忙碌的一天，有消息称其将飞机租赁业务出售给Aerca，并发布了2021年的财务预测。但这笔价值数十亿美元的交易和大流行后工业格局的前景让位于该集团的反向股票分割计划。</blockquote></p><p> General Electric (ticker: GE) is proposing to give investors one share for every eight they now hold. That will take its share price to about $112, based on recent levels, reducing the shares outstanding to about 1.1 billion from a little less than9 billion.</p><p><blockquote>通用电气（股票代码：GE）提议向投资者提供他们目前持有的每八股股票中的一股。根据近期水平，这将使其股价升至约112美元，流通股从略低于90亿股减少至约11亿股。</blockquote></p><p> The question is why? Most companiesspit their stock, creating a lower share price and more shares outstanding, as stock prices rise over time. Companies appear to like to have a stock price at a certain level, following the Goldilocks principle of not too high and not too low.</p><p><blockquote>问题是为什么？随着股价随着时间的推移而上涨，大多数公司都会抛售股票，从而导致股价下跌和流通股增加。公司似乎喜欢将股价保持在一定水平，遵循不太高也不太低的金发姑娘原则。</blockquote></p><p> That appears to be the reason for this reverse split, too. A scan of GE’s peers shows share prices in the $100 to $200 range and share counts in the hundreds of millions. GE simply looks like an outlier.</p><p><blockquote>这似乎也是这种反向分裂的原因。对通用电气同行的扫描显示，股价在100美元至200美元之间，股票数量高达数亿股。通用电气看起来只是一个局外人。</blockquote></p><p> Investors like splits. They take them as a sign that things are getting better and that management expects prices to rise in the near future. Reverse splits, on the other hand, can make investors nervous. They can be interpreted as a sign the business is getting worse.</p><p><blockquote>投资者喜欢拆分。他们认为这是情况正在好转的迹象，管理层预计价格将在不久的将来上涨。另一方面，反向拆分可能会让投资者感到紧张。它们可以被解释为生意越来越差的迹象。</blockquote></p><p> The academic data appears to bear that fear out. A<i>Journal of Finance</i>study partly authored by Nobel laureate Eugene Fama found that splits are favorable and that reverse splits are ominous for one- and three-year forward stock returns. Splitters outperform the market and reverse splitters lag behind it.</p><p><blockquote>学术数据似乎证实了这种担忧。一个<i>金融学报</i>诺贝尔奖获得者尤金·法玛（Eugene Fama）部分撰写的研究发现，分拆是有利的，而反向分拆对于一年和三年的远期股票回报来说是不祥之兆。分离器跑赢市场，反向分离器落后。</blockquote></p><p> But there are a few caveats. First, the data set included almost 6,000 stock splits, but fewer than 100 reverse splits. Reverse splits are very rare. It’s tough to make a blanket statement from a small data set.</p><p><blockquote>但是有一些警告。首先，数据集包括近6,000次股票分割，但反向分割不到100次。反向分裂非常罕见。很难从一个小数据集中做出总括性的陈述。</blockquote></p><p> What is more, many academic papers look at old data. The Fama data set includes stocks trading in the 1970s, 1980s and 1990s. A lot has changed in the marketplace since then.</p><p><blockquote>更重要的是，许多学术论文着眼于旧数据。Fama数据集包括20世纪70年代、80年代和90年代的股票交易。从那时起，市场发生了很大变化。</blockquote></p><p> One common theme of stock-split studies, for instance, is a split’s impact on overall liquidity. A lower share price is simply within reach of more shareholders. More investors means more stock trading on any given day. That can make shares less volatile and less risky.</p><p><blockquote>例如，股票分割研究的一个共同主题是分割对整体流动性的影响。更低的股价对于更多股东来说是触手可及的。更多的投资者意味着任何一天都有更多的股票交易。这可以降低股票的波动性和风险。</blockquote></p><p> Now, though, brokers offer share “slices” for as little as $5, essentially giving stock exposure to anyone who wants it, despite the absolute level any stock trades at.</p><p><blockquote>然而现在，经纪商以低至5美元的价格提供股票“切片”，本质上是向任何想要的人提供股票敞口，尽管任何股票的交易绝对水平。</blockquote></p><p> Concern about a deteriorating business may not be a factor with GE’s reverse split. The company isn’t what it once was, but that is old news. GE stock is down roughly 75% from its all-time high, but the slide happened long ago. CEOLarry Culpwas brought in during 2018 to turn around struggling operations.</p><p><blockquote>对业务恶化的担忧可能不是通用电气反向分拆的一个因素。该公司已今非昔比，但这已是旧闻。GE股价较历史高点下跌约75%，但这种下滑发生在很久以前。首席执行官拉里·卡尔普(Larry Culpwas)于2018年上任，旨在扭转陷入困境的运营。</blockquote></p><p> A lot of progress has been made. GE has paid back more than $70 billion in debt over the past few years. Deals such as the jet-leasing sale toAerCap(AER), the sale of the biopharma business toDanaher(DHR) and sales of stock in the oil-services providerBaker Hughes(BKR) are making the reduction possible.</p><p><blockquote>已经取得了很多进展。通用电气在过去几年中偿还了超过700亿美元的债务。向AerCap(AER)出售喷气式飞机租赁业务、向丹纳赫(DHR)出售生物制药业务以及出售石油服务提供商贝克休斯(BKR)股票等交易使削减成为可能。</blockquote></p><p> Despite the pandemic, which devastated demand for travel and the jet-aircraft engines GE makes, the stock is trading at the highest level since Culp took over. Coming into Wednesday, shares were up about30% year to date, far better than comparable gains of theS&amp;P 500andDow Jones Industrial Average.</p><p><blockquote>尽管疫情摧毁了旅行和通用电气制造的喷气式飞机发动机的需求，但该股的交易价格仍处于卡尔普接任以来的最高水平。截至周三，该股今年迄今已上涨约30%，远好于标准普尔500指数和道琼斯工业平均指数的可比涨幅。</blockquote></p><p> Investors are focusing now on what GE said about its future. GEmaintained its forecastsfor about 20 cents in per-share earnings and about $3.5 billion in free cash flow for 2021. Management says there will be modest growth in the key aviation business.</p><p><blockquote>投资者现在关注通用电气对其未来的看法。GE维持2021年每股收益约20美分、自由现金流约35亿美元的预测。管理层表示，关键航空业务将适度增长。</blockquote></p><p> That limited growth would return GE Aviation’s sales to levels realized around 2017, far from their pre-pandemic level in 201. That looks like a cautious call now that vaccines are rolling out across the globe, but Culp is fine with that.</p><p><blockquote>这种有限的增长将使GE航空集团的销售额恢复到2017年左右的水平，远低于201年大流行前的水平。现在疫苗正在全球推广，这看起来像是一个谨慎的看涨期权，但卡尔普对此并不介意。</blockquote></p><p> ““We won’t be offended if [anyone] calls us conservative,” he told<i>Barron’s</i>.</p><p><blockquote>“如果（任何人）评级美国保守派，我们不会被冒犯，”他说<i>巴伦周刊</i>.</blockquote></p><p> Being conservative is probably the right move for GE given all the internal and industrywide challenges the company has faced in recent years.</p><p><blockquote>鉴于通用电气近年来面临的所有内部和全行业挑战，保守可能是该公司的正确举措。</blockquote></p><p> The stock split is neither conservative nor aggressive. But it is another sign things are changing and that GE wants to be viewed as an industrial conglomerate, and not as the hybrid of manufacturing and finance the company became during the 1990s and 2000s.</p><p><blockquote>股票分割既不保守也不激进。但这是情况正在发生变化的另一个迹象，表明通用电气希望被视为一家工业集团，而不是该公司在20世纪90年代和21世纪初成为的制造和金融的混合体。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GE Announced Tons Wednesday. This Was the Real Bombshell.<blockquote>通用电气周三宣布了吨。这才是真正的重磅炸弹。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGE Announced Tons Wednesday. This Was the Real Bombshell.<blockquote>通用电气周三宣布了吨。这才是真正的重磅炸弹。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-03-10 23:21</span>\n</p>\n</h4>\n</header>\n<article>\n<p>General Electricis having a very busy day, with news that it sold itsjet-leasing business&nbsp;to&nbsp;AerCapand financial forecasts for 2021. But the multibillion-dollar deal and theoutlookfor the post-pandemic industrial landscape take a back seat to the conglomerate’s plan for a reverse stock split.</p><p><blockquote>通用电气公司度过了非常忙碌的一天，有消息称其将飞机租赁业务出售给Aerca，并发布了2021年的财务预测。但这笔价值数十亿美元的交易和大流行后工业格局的前景让位于该集团的反向股票分割计划。</blockquote></p><p> General Electric (ticker: GE) is proposing to give investors one share for every eight they now hold. That will take its share price to about $112, based on recent levels, reducing the shares outstanding to about 1.1 billion from a little less than9 billion.</p><p><blockquote>通用电气（股票代码：GE）提议向投资者提供他们目前持有的每八股股票中的一股。根据近期水平，这将使其股价升至约112美元，流通股从略低于90亿股减少至约11亿股。</blockquote></p><p> The question is why? Most companiesspit their stock, creating a lower share price and more shares outstanding, as stock prices rise over time. Companies appear to like to have a stock price at a certain level, following the Goldilocks principle of not too high and not too low.</p><p><blockquote>问题是为什么？随着股价随着时间的推移而上涨，大多数公司都会抛售股票，从而导致股价下跌和流通股增加。公司似乎喜欢将股价保持在一定水平，遵循不太高也不太低的金发姑娘原则。</blockquote></p><p> That appears to be the reason for this reverse split, too. A scan of GE’s peers shows share prices in the $100 to $200 range and share counts in the hundreds of millions. GE simply looks like an outlier.</p><p><blockquote>这似乎也是这种反向分裂的原因。对通用电气同行的扫描显示，股价在100美元至200美元之间，股票数量高达数亿股。通用电气看起来只是一个局外人。</blockquote></p><p> Investors like splits. They take them as a sign that things are getting better and that management expects prices to rise in the near future. Reverse splits, on the other hand, can make investors nervous. They can be interpreted as a sign the business is getting worse.</p><p><blockquote>投资者喜欢拆分。他们认为这是情况正在好转的迹象，管理层预计价格将在不久的将来上涨。另一方面，反向拆分可能会让投资者感到紧张。它们可以被解释为生意越来越差的迹象。</blockquote></p><p> The academic data appears to bear that fear out. A<i>Journal of Finance</i>study partly authored by Nobel laureate Eugene Fama found that splits are favorable and that reverse splits are ominous for one- and three-year forward stock returns. Splitters outperform the market and reverse splitters lag behind it.</p><p><blockquote>学术数据似乎证实了这种担忧。一个<i>金融学报</i>诺贝尔奖获得者尤金·法玛（Eugene Fama）部分撰写的研究发现，分拆是有利的，而反向分拆对于一年和三年的远期股票回报来说是不祥之兆。分离器跑赢市场，反向分离器落后。</blockquote></p><p> But there are a few caveats. First, the data set included almost 6,000 stock splits, but fewer than 100 reverse splits. Reverse splits are very rare. It’s tough to make a blanket statement from a small data set.</p><p><blockquote>但是有一些警告。首先，数据集包括近6,000次股票分割，但反向分割不到100次。反向分裂非常罕见。很难从一个小数据集中做出总括性的陈述。</blockquote></p><p> What is more, many academic papers look at old data. The Fama data set includes stocks trading in the 1970s, 1980s and 1990s. A lot has changed in the marketplace since then.</p><p><blockquote>更重要的是，许多学术论文着眼于旧数据。Fama数据集包括20世纪70年代、80年代和90年代的股票交易。从那时起，市场发生了很大变化。</blockquote></p><p> One common theme of stock-split studies, for instance, is a split’s impact on overall liquidity. A lower share price is simply within reach of more shareholders. More investors means more stock trading on any given day. That can make shares less volatile and less risky.</p><p><blockquote>例如，股票分割研究的一个共同主题是分割对整体流动性的影响。更低的股价对于更多股东来说是触手可及的。更多的投资者意味着任何一天都有更多的股票交易。这可以降低股票的波动性和风险。</blockquote></p><p> Now, though, brokers offer share “slices” for as little as $5, essentially giving stock exposure to anyone who wants it, despite the absolute level any stock trades at.</p><p><blockquote>然而现在，经纪商以低至5美元的价格提供股票“切片”，本质上是向任何想要的人提供股票敞口，尽管任何股票的交易绝对水平。</blockquote></p><p> Concern about a deteriorating business may not be a factor with GE’s reverse split. The company isn’t what it once was, but that is old news. GE stock is down roughly 75% from its all-time high, but the slide happened long ago. CEOLarry Culpwas brought in during 2018 to turn around struggling operations.</p><p><blockquote>对业务恶化的担忧可能不是通用电气反向分拆的一个因素。该公司已今非昔比，但这已是旧闻。GE股价较历史高点下跌约75%，但这种下滑发生在很久以前。首席执行官拉里·卡尔普(Larry Culpwas)于2018年上任，旨在扭转陷入困境的运营。</blockquote></p><p> A lot of progress has been made. GE has paid back more than $70 billion in debt over the past few years. Deals such as the jet-leasing sale toAerCap(AER), the sale of the biopharma business toDanaher(DHR) and sales of stock in the oil-services providerBaker Hughes(BKR) are making the reduction possible.</p><p><blockquote>已经取得了很多进展。通用电气在过去几年中偿还了超过700亿美元的债务。向AerCap(AER)出售喷气式飞机租赁业务、向丹纳赫(DHR)出售生物制药业务以及出售石油服务提供商贝克休斯(BKR)股票等交易使削减成为可能。</blockquote></p><p> Despite the pandemic, which devastated demand for travel and the jet-aircraft engines GE makes, the stock is trading at the highest level since Culp took over. Coming into Wednesday, shares were up about30% year to date, far better than comparable gains of theS&amp;P 500andDow Jones Industrial Average.</p><p><blockquote>尽管疫情摧毁了旅行和通用电气制造的喷气式飞机发动机的需求，但该股的交易价格仍处于卡尔普接任以来的最高水平。截至周三，该股今年迄今已上涨约30%，远好于标准普尔500指数和道琼斯工业平均指数的可比涨幅。</blockquote></p><p> Investors are focusing now on what GE said about its future. GEmaintained its forecastsfor about 20 cents in per-share earnings and about $3.5 billion in free cash flow for 2021. Management says there will be modest growth in the key aviation business.</p><p><blockquote>投资者现在关注通用电气对其未来的看法。GE维持2021年每股收益约20美分、自由现金流约35亿美元的预测。管理层表示，关键航空业务将适度增长。</blockquote></p><p> That limited growth would return GE Aviation’s sales to levels realized around 2017, far from their pre-pandemic level in 201. That looks like a cautious call now that vaccines are rolling out across the globe, but Culp is fine with that.</p><p><blockquote>这种有限的增长将使GE航空集团的销售额恢复到2017年左右的水平，远低于201年大流行前的水平。现在疫苗正在全球推广，这看起来像是一个谨慎的看涨期权，但卡尔普对此并不介意。</blockquote></p><p> ““We won’t be offended if [anyone] calls us conservative,” he told<i>Barron’s</i>.</p><p><blockquote>“如果（任何人）评级美国保守派，我们不会被冒犯，”他说<i>巴伦周刊</i>.</blockquote></p><p> Being conservative is probably the right move for GE given all the internal and industrywide challenges the company has faced in recent years.</p><p><blockquote>鉴于通用电气近年来面临的所有内部和全行业挑战，保守可能是该公司的正确举措。</blockquote></p><p> The stock split is neither conservative nor aggressive. But it is another sign things are changing and that GE wants to be viewed as an industrial conglomerate, and not as the hybrid of manufacturing and finance the company became during the 1990s and 2000s.</p><p><blockquote>股票分割既不保守也不激进。但这是情况正在发生变化的另一个迹象，表明通用电气希望被视为一家工业集团，而不是该公司在20世纪90年代和21世纪初成为的制造和金融的混合体。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/ge-announced-tons-wednesday-this-was-the-real-bombshell-51615389095?mod=RTA\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GE":"GE航空航天"},"source_url":"https://www.barrons.com/articles/ge-announced-tons-wednesday-this-was-the-real-bombshell-51615389095?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1176282144","content_text":"General Electricis having a very busy day, with news that it sold itsjet-leasing business to AerCapand financial forecasts for 2021. But the multibillion-dollar deal and theoutlookfor the post-pandemic industrial landscape take a back seat to the conglomerate’s plan for a reverse stock split.\nGeneral Electric (ticker: GE) is proposing to give investors one share for every eight they now hold. That will take its share price to about $112, based on recent levels, reducing the shares outstanding to about 1.1 billion from a little less than9 billion.\nThe question is why? Most companiesspit their stock, creating a lower share price and more shares outstanding, as stock prices rise over time. Companies appear to like to have a stock price at a certain level, following the Goldilocks principle of not too high and not too low.\nThat appears to be the reason for this reverse split, too. A scan of GE’s peers shows share prices in the $100 to $200 range and share counts in the hundreds of millions. GE simply looks like an outlier.\nInvestors like splits. They take them as a sign that things are getting better and that management expects prices to rise in the near future. Reverse splits, on the other hand, can make investors nervous. They can be interpreted as a sign the business is getting worse.\nThe academic data appears to bear that fear out. AJournal of Financestudy partly authored by Nobel laureate Eugene Fama found that splits are favorable and that reverse splits are ominous for one- and three-year forward stock returns. Splitters outperform the market and reverse splitters lag behind it.\nBut there are a few caveats. First, the data set included almost 6,000 stock splits, but fewer than 100 reverse splits. Reverse splits are very rare. It’s tough to make a blanket statement from a small data set.\nWhat is more, many academic papers look at old data. The Fama data set includes stocks trading in the 1970s, 1980s and 1990s. A lot has changed in the marketplace since then.\nOne common theme of stock-split studies, for instance, is a split’s impact on overall liquidity. A lower share price is simply within reach of more shareholders. More investors means more stock trading on any given day. That can make shares less volatile and less risky.\nNow, though, brokers offer share “slices” for as little as $5, essentially giving stock exposure to anyone who wants it, despite the absolute level any stock trades at.\nConcern about a deteriorating business may not be a factor with GE’s reverse split. The company isn’t what it once was, but that is old news. GE stock is down roughly 75% from its all-time high, but the slide happened long ago. CEOLarry Culpwas brought in during 2018 to turn around struggling operations.\nA lot of progress has been made. GE has paid back more than $70 billion in debt over the past few years. Deals such as the jet-leasing sale toAerCap(AER), the sale of the biopharma business toDanaher(DHR) and sales of stock in the oil-services providerBaker Hughes(BKR) are making the reduction possible.\nDespite the pandemic, which devastated demand for travel and the jet-aircraft engines GE makes, the stock is trading at the highest level since Culp took over. Coming into Wednesday, shares were up about30% year to date, far better than comparable gains of theS&P 500andDow Jones Industrial Average.\nInvestors are focusing now on what GE said about its future. GEmaintained its forecastsfor about 20 cents in per-share earnings and about $3.5 billion in free cash flow for 2021. Management says there will be modest growth in the key aviation business.\nThat limited growth would return GE Aviation’s sales to levels realized around 2017, far from their pre-pandemic level in 201. That looks like a cautious call now that vaccines are rolling out across the globe, but Culp is fine with that.\n““We won’t be offended if [anyone] calls us conservative,” he toldBarron’s.\nBeing conservative is probably the right move for GE given all the internal and industrywide challenges the company has faced in recent years.\nThe stock split is neither conservative nor aggressive. But it is another sign things are changing and that GE wants to be viewed as an industrial conglomerate, and not as the hybrid of manufacturing and finance the company became during the 1990s and 2000s.","news_type":1,"symbols_score_info":{"GE":0.9}},"isVote":1,"tweetType":1,"viewCount":3051,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":348512309,"gmtCreate":1617940423301,"gmtModify":1617940423301,"author":{"id":"3473384394414683","authorId":"3473384394414683","name":"路客大酥","avatar":"https://static.tigerbbs.com/b1742529d3f0da6677967cad04600d24","crmLevel":8,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3473384394414683","authorIdStr":"3473384394414683"},"themes":[],"htmlText":"话说特么咋默认界面变成这个啊？我是想要蜡烛图啊，这是啥烂玩意儿啊？升级后这么惨？","listText":"话说特么咋默认界面变成这个啊？我是想要蜡烛图啊，这是啥烂玩意儿啊？升级后这么惨？","text":"话说特么咋默认界面变成这个啊？我是想要蜡烛图啊，这是啥烂玩意儿啊？升级后这么惨？","images":[{"img":"https://static.tigerbbs.com/5da6607cf37207dc8ff081dc80bda4e3","width":"1284","height":"2778"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/348512309","isVote":1,"tweetType":1,"viewCount":3456,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":321901290,"gmtCreate":1615387687510,"gmtModify":1703488318032,"author":{"id":"3473384394414683","authorId":"3473384394414683","name":"路客大酥","avatar":"https://static.tigerbbs.com/b1742529d3f0da6677967cad04600d24","crmLevel":8,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3473384394414683","authorIdStr":"3473384394414683"},"themes":[],"htmlText":"<a target=\"_blank\" href=\"https://laohu8.com/S/GE\">$通用电气(GE)$</a> 为什么反向拆分股票啊？**！","listText":"<a target=\"_blank\" href=\"https://laohu8.com/S/GE\">$通用电气(GE)$</a> 为什么反向拆分股票啊？**！","text":"$通用电气(GE)$ 为什么反向拆分股票啊？**！","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/321901290","isVote":1,"tweetType":1,"viewCount":2448,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"lives":[]}