Market Minute: GE to Build 'Industrial Internet'; AT&T's Bright Idea

Smartphone users will get a charge out of this, and GE has a bright idea. Those and more are what's making business news Tuesday.

The Dow industrials (^DJIA) rose 109 points. It's the fifth straight triple digit move for the Dow -- two up, three down. The S&P 500 (^GSPC) added 12 points and the Nasdaq (^IXIC) gained 28.

A big problem of modern life is keeping our smartphones charged through a whole day. Well, AT&T (T) may have the answer. It's powering up 25 outdoor solar charging stations throughout New York City today. It will have dedicated ports to charge iPhones, Androids and BlackBerrys. If the test goes well, it could be expanded to other cities.
general electric ge industrial internet AT&T solar charging stations smartphones
Chris Hondros/Getty Images

General Electric (GE) says it's hiring thousands of engineers to build an "industrial Internet." The aim is to allow business customers to run equipment more efficiently, potentially saving them billions of dollars.

Facebook (FB) is holding press event later this week to unveil what it calls "a big idea." According to TechCrunch, Facebook will say its popular photo-sharing service Instagram will allow users to share short videos. That's similar to a service now offered by a unit of Twitter.

Two independent studies have found Medtronic's (MDT) product to improve the results from spinal surgery fared no better than traditional procedures. The lead author of one study said he could find no "clear indications" for using the Medtronic product.

We're watching shares of homebuilders Lennar (LEN), Toll Brothers (TOL), Pulte Homes (PHA) and D.R. Horton (DHI). They rallied yesterday and could be active again today following the release of Tuesday morning's report on housing starts. Even though the housing market has taken off, most of those stocks have underperformed the broader market this year.

Sprint Nextel (S) is suing both Dish Network (DISH) and Clearwire (CLWR) to block their planned merger. Clearwire has repeatedly rejected a competing offer from Sprint.

And at the Paris Air Show, Boeing (BA) rolled out a larger, more fuel-efficient version of the 787 Dreamliner, stepping up its battle with Airbus. Boeing also detailed a series of new plane orders.

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All the billionaires are selling stocks because the sky is falling...Markets will crash and wipe out 90% of the value....Nobody fell for their scheme and look what the market is doing....he..he..ha !.. :>) They may be allowed now to buy back what they gave up...@ a premium..$...manipulators get their just desserts !....enjoy.

June 18 2013 at 2:29 PM Report abuse +1 rate up rate down Reply

Wonder if G.E. supports S 744 for a supply of cheap foreign STEM workers to build their "bright new idea"? On second thought, they've moved so much of their operation to China, they might have a steady supply there.

June 18 2013 at 12:59 PM Report abuse +2 rate up rate down Reply


June 18 2013 at 12:51 PM Report abuse +1 rate up rate down Reply

In a day when we fight over whither the NSA can spy on you, why would anyone want a refrigerator, microwave, dishwasher, thermostat, or close dryer, that connects to the internet,

June 18 2013 at 12:08 PM Report abuse +3 rate up rate down Reply

GE is ran by former milttary and political personnell

June 18 2013 at 12:07 PM Report abuse +2 rate up rate down Reply

I regret to say...GE appliances are atrocious....

Exp.: When a GE Refrigerator (purchase price $1,200.) at Five (5), years old, needs a new motor to continue to work for the consumer....Then one asks (or should) oneself,..."Why didn't I purchase a Hot point, or Whirlpool, etc.? Twenty - Thirty years success rate!

The previous is just a Heads up, General Electric....Okay?

I can only hope your venture in the Internet will prove different than how your appliances perform.

Thank you,

Pamela S.

June 18 2013 at 11:53 AM Report abuse +3 rate up rate down Reply

Until America stops this so called free trade pact with countrys that use child labor, pay wages that are a disgrace, no jobs will come to this country. China has been permitted to lie, cheat and steal and permitted to violate the tenants of being allowed into the WTO. World Trade Order. Asian countrys do not follows the laws that we in America are forced to live by. They don't have OSHA and some of the biggest polluters in the world. I'm sick and tired of hearing free trade, what we need is FAIR trade. Our Congress couldn't care less about the American worker. It's all about GREED.

June 18 2013 at 11:42 AM Report abuse rate up rate down Reply
1 reply to AL1PA's comment

It won't happen for one simple reason........... we can't afford it. American people cannot afford higher priced products. we are used to the cheap stuff from China. The US, itself is beyond broke, borrowing 40 cents for every dollar spent. Get ready for the collapse, it will kill many.

June 18 2013 at 3:02 PM Report abuse rate up rate down Reply

Huh, GE built? If the system is built anything like their appliances it won't work for long anyways.

June 18 2013 at 11:09 AM Report abuse +1 rate up rate down Reply

They should, they don't pay any taxes, thanks to little barry.

June 18 2013 at 10:34 AM Report abuse +2 rate up rate down Reply

GE is soooooooooooooo in bed with Obama I wil not buy anything they sell. Besides their products have become inferior anyway.

June 18 2013 at 10:31 AM Report abuse +3 rate up rate down Reply