News Summary: General Electric 4Q earnings rise
News Summary: Cost cutting, strong growth in emerging markets propel GE
EMERGING GROWTH: General Electric Corp.'s earnings rose 8 percent and revenue rose 4 percent, ahead of analysts' expectations, thanks to strong growth in emerging markets and in countries that are exploiting natural resources.
GROWING PORTFOLIO: GE reported increased profits at all seven of its industrial segments, with growth topping 10 percent at four of them — oil and gas, energy management, aviation and transportation.
THE OUTLOOK: GE said its backlog of new business reached a company record of $210 billion. In a conference call with investors, CEO Jeff Immelt said he expects resurgent growth in China to continue and for the U.S. housing market to continue its steady recovery.
