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Yahoo BusinessMay 30, 2020
Italy to Resume Travel; Macau's Economy Shrinks: Virus Update
It's been another difficult year for General Electric Company (NYSE: GE) investors, with the stock down another 40.7% year to date to under $7.One Wall Street analyst said GE's 2020 sell-off is a buying opportunity for long-term investors, but they should keep their near-term free cash flow expectations in check.The GE AnalystBank of America analyst Andrew Obin reiterated his Buy rating and $11 price target for GE stock.The GE ThesisGE and its investors started off the year with relatively high hopes for FCF. At an investor conference this week, GE CEO Larry Culp suggested the economic downturn will likely make 2020 another negative FCF year for GE.GE is now projecting negative industrial FCF of between $3.5 billion and $4.5 billion in the second quarter alone.Looking ahead, Obin said he anticipates a slow pace of recovery for GE's aviation business. However, he projects a stronger rebound in GE's health care business given orders for products diagnosing and treating COVID-19 more than doubled in the second quarter. Meanwhile, supply chain issues impacting GE's power and renewables segment are improving, and the company is on track to ship at least 45 heavy-duty gas turbines in 2020.While the downturn has been a bump in the road for GE, Obin said he believes GE should be able to weather the storm."We see GE having the financial flexibility to weather near-term revenue declines and continue its turn-around progress," he wrote in a Friday note.Benzinga's TakeIt seems GE's financial situatio

Reuters BusinessMay 29, 2020
U.S. pipeline operator Energy Transfer warns of coming job cuts
U.S. pipeline operator Energy Transfer LP will begin cutting about 6% of its workforce next week, underscoring the spreading impact of weak oil and gas prices on the energy business.

Reuters BusinessMay 29, 2020
Tencent in talks to buy Warner Music stake: WSJ
Chinese internet giant Tencent Holdings Ltd is in talks to invest $200 million in Warner Music Group, ahead of the record company's slated initial public offering next week, the Wall Street Journal reported on Friday.
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