Pre-market SI is up 2.61% at $118.70, GE is up .81% at $18.66.
From Reuters:
* Siemens sees robust growth in Q1 new orders
* Sees H1 negative one-time effects from SIS sale
* Bad effects seen at mid-to-high, triple-digit mln euros
* Sees Q1 profit from continuing operations up
* Sees Q1 sales up year/year, down quarter/quarter (Adds quotes, background)
FRANKFURT, Jan 10 (Reuters) - Siemens AG (SIEGn.DE), Europe's biggest engineering conglomerate, said its first-quarter profit and sales were set to surpass the year-earlier figures, thanks to robust factory demand.
The Munich-based group said on Monday it was likely to post a "very strong" increase in new orders for its first quarter, which ended on Dec. 31, but added the level would likely not match the strong fourth-quarter figure of around 23.5 billion euros ($30.43 billion).
"We're off to a good start and are fully on track to reach our targets," Chief Financial Officer Joe Kaeser said at an investor conference in New York.
A summary of his speech was released by Siemens in Germany.
Siemens, which makes everything from fast trains and steam turbines to hearing aids and light
bulbs, has forecast a 25 percent to 35 percent growth in profit from continuing operations for the fiscal year to Sept. 30, 2011, with new orders improving significantly and organic sales returning to moderate growth.*Previously:
Industry automation and drive technologies divisions, whose main customers are manufacturing plants, have driven revenue and profit growth for the first quarter.
Commenting on the company's bread-and-butter Industry business, Kaeser said the strong momentum in short-cycle businesses, such as industry automation and drive technologies, would likely continue in its fiscal first-half, but growth would slow down in the second-half....MORE
"Slimmed-Down Siemens Girds for Growth" (SI)
"Siemens Long-Cycle Industry Customers Weighing Investments Again" (SI)
"Siemens Reports Big Jump in Orders" (SI)
I'll See Your Eco-imagination and Raise: "Siemens Predicts Sales of Green Technology Products to Reach $55 Billion" (SI; GE)
Siemens; ABB lifted to conviction buy at Goldman: ABB, Siemens, Schneider to Gain From Demand for Smart Grids, Goldman Says (SI; ABB)
Siemens Sees Strong Profitability, Decides to Open a Bank (SI)
And many more, use the search blog box, keyword Siemens.
For more on Siemens vs. General Electric see:
Attention GE: Huge After Hours Breakout for Siemens AG (SI)
