posted
This stock got beat down today 10-12% depending what time your looking at it. Count on seeing it bounce back to $35-36 range.
osubucks30
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I sure would not count on that! I would stay away from this one now.
osubucks30
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I think this because the recent quarter and there slashed outlook are not good! The stock barely bounced after the quarter before which was a good quarter with a descent outlook. Will have to break below 52 week low IMO!
fourseven
posted
quoted from Wall Street Journal:
General Electric, an economic bellwether, reported disappointing first-quarter earnings, sending its shares tumbling 13% and the broader market struggled. It was GE's worst one-day percentage decline since the stock-market crash of October 1987, dragging the rest of the market with it.
The Dow Jones Industrial Average, which includes GE, fell 256.56 points, or 2%, to 12325.42, the Dow's biggest decline in more than three weeks. The blue chips lost 2.3% for the week and are down 13% from their record in October. Among the 30 stocks in the Dow, only Wal-Mart Stores rose, by 0.3%.
fourseven
posted
For me, GE is a part of the "G trinity" .. GE, GS and GOOG -- these three tell me at a glance how the market is doing.
GE is always such a staple stock, a conglomerate diversified into just about anything; when they report missed earnings, it's a sign of general trouble.
fourseven
posted
What I don't get is this (from Reuters):
U.S. corporate bonds spreads also widened on the news and the cost of protecting GE Capital Corp's debt against default rose. Five-year credit default swaps on GECC rose by about 6.5 percent, to 131 basis points. The increase means it costs $131,000 a year to protect $10 million of GE debt, compared with $123,000 on Thursday.
What's this "protecting the debt" business?
stocktrader22
posted
why would you buy this stock? It barely moves and pays a low dividend. So many other stocks to be in than this.
fourseven
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I dunno.. I'm not planning to buy it -- just watching it as a "state of the union" indicator. More accurate than DJI, in my opinion.
R1 Man
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quote:Originally posted by stocktrader22: why would you buy this stock? It barely moves and pays a low dividend. So many other stocks to be in than this.
Its a good stock to diversify your portfolio. Its a long term buy. I also like to flip T...at&t....another good one. Buy $35....sell $38. But GE is a safe bet I believe and right now I don't have all the time to day trade. Think....they missed their earnings by $0.05 a share and it dropped.....but they still made a ton of money. Go look for yourself.
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