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GE - Siemens: Power And Gas Spin Off Will Not Trump Economic Headwinds
General Electric Company
Financial markets continue to melt up and Siemens (OTCPK:SIEGY) has benefited. SIEGY is up over 15% Y/Y. Bulls who kept the faith in the company have been richly rewarded. The stock has bounced over 30% off its 52-week low. Management has taken bold strokes to revive the stock. The company recently announced it would spin off its Power And Gas unit amid declining demand for gas turbines. However, Siemens could face headwinds regardless of its attempt to change the narrative.
In Q4 2019 Siemens generated total revenue of EUR 24.5 billion, up 8%