When General Electric Co. (NYSE:GE) reports fourth-quarter results next week, the main thing that will be on investors' minds will be mergers and acquisitions.

GE is reportedly seeking $10 billion for its plastics business. Merrill Lynch's John Inch thinks the conglomerate may be "gearing up" for a multi-billion dollar deal, according to Bloomberg News.

There are plenty of tempting targets for the Fairfield, Connecticut-based company, including ABB Ltd., the Swiss industrial firm that would fit nicely with GE's power-generation business, Bloomberg says, adding that CEO Jeff Immelt has said he's interested in deals in health care information technology, oil and gas, security and sensing, water treatment, and Hispanic media.

GE continues to deliver profit growth across its business lines, with the exception of NBC Universal. The parent of the NBC television network and Universal film studios was the only unit to show a decline in operating profit in the third quarter. GE is cracking the whip at NBC Universal. It announced plans in October to cut 700 jobs and to slash operating costs by $750 million. Though it's flashy and glamorous, NBC Universal is the smallest by revenue among GE's businesses.

Wall Street is expecting General Electric to post earnings of 64 cents on revenue of $44.18 billion, according to Thomson Financial. Last month, the company affirmed its guidance of 62 cents and 64 cents for the quarter, and $1.97 to $1.99 for 2006. Earnings are set to be released on January 19.

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