General Electric shares tank as third quarter shows a big earnings miss

Ivan Schwartz
October 21, 2017

"General Electric is scheduled to report earnings on Friday, and no one is expecting it to be a quiet day".

General Electric is readying to cut thousands of corporate workers, according to the Wall Street Journal, with the conglomerate having a major corporate office in Norwalk after having moved 200 Fairfield executives and staff previous year to a new headquarters in Boston. General Electric now has $204.15 billion valuation.

Estimates: EPS to rise 5% to $1.75 as revenue notches up 2% to $9.96 billion. About 61.37 million shares traded or 20.40% up from the average. AEGON N.V. (ADR) (NYSE:AEG) has declined 1.40% since October 20, 2016 and is downtrending. It has underperformed by 4.60% the S&P500. A negative update to that figure - or a dividend cut - could set off an investor exodus from the stock. Its down 0.28, from 1.45 in 2017Q1.

Year to date, General Electric returned $10 billion to shareholders through the end of the third quarter, including $3.7 billion through share repurchases. Valley Natl Advisers holds 1.62% or 166,731 shares.

In separate GE news Thursday, the company announced a partnership with Apple to extend its Predix industrial software platform to encompass applications built for the iOS operating system that drives the iPad and iPhone. Zurcher Kantonalbank (Zurich Cantonalbank) reported 1,125 shares. Cmt Asset Management Ltd sold 14,670 shares as the company's stock rose 10.53% with the market. Pub Employees Retirement Of Ohio stated it has 6,478 shares. 8,943 were reported by Bnp Paribas Arbitrage Sa. In general, more thrust is placed on most recent actions by assigning higher weights to it than those assigned to past movements. Chickasaw Limited Liability, Tennessee-based fund reported 80,651 shares. Beacon Cap Management owns 286 shares for 0% of their portfolio.

XO Group Inc.is engaged in providing content and marketing solutions, targeted advertising programs, transactions and merchandise. The Company's multi-platform brands guide couples through transformative life stages from getting married with The Knot, to moving in together with The Nest, to having a baby with The Bump, and helping bring celebrations to life with entertainment vendors from GigMasters.com Incorporated. It has a 20.25 P/E ratio. The Knot is the wedding resource and marketplace that engages, matches and connects couples.

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Covering sell-side analysts have recently weighed in on shares of Pfizer Inc. BP had 49 analyst reports since July 24, 2015 according to SRatingsIntel. On Tuesday, August 1 the stock rating was maintained by Roth Capital with "Buy". The rating was upgraded by TheStreet on Tuesday, July 21 to "Buy". The rating was maintained by Cowen & Co on Thursday, October 19 with "Hold". (NYSE:PFE) puts the stock on today's active list. Therefore 46% are positive. BidaskClub downgraded General Electric from a "sell" rating to a "strong sell" rating in a research report on Wednesday, June 28th. The stock has "Hold" rating by Cowen & Co on Monday, July 17. The stock has "Sell" rating by Williams Capital Group on Monday, July 24. As per Tuesday, September 8, the company rating was upgraded by UBS. The company was maintained on Monday, November 23 by Credit Suisse. General Electric has a consensus rating of "Hold" and an average price target of $27.93. The company was initiated on Friday, December 11 by Deutsche Bank.

Since May 15, 2017, it had 3 insider purchases, and 0 insider sales for $3.37 million activity.

Analysts await Portland General Electric Company (NYSE:POR) to report earnings on October, 27.

Investors sentiment decreased to 0.79 in 2017 Q2. Cipher LP has 8,144 shares.

The drop in cash flow has raised persistent questions about how the company will fund its dividend, pensions and capital investments. Guggenheim Ltd Llc holds 0.04% or 304,412 shares. Mgmt Assocs reported 44,510 shares. The Texas-based Sunbelt Secs has invested 2.75% in General Electric Company (NYSE:GE). Louisiana State Employees Retirement System holds 0.72% or 540,200 shares in its portfolio. Riggs Asset Managment Inc accumulated 2,467 shares. Td Asset Management reported 0.44% stake. Ramsay Stattman Vela Price accumulated 66,825 shares.

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