GE earnings: Can it possibly get any worse?
Can it possibly get any worse for General Electric Co.? Investors will find out when the struggling industrial conglomerate reports fourth-quarter results before Wednesday’s open.
The last quarterly report, was a big surprise for investors, as GE missed earnings expectations for the first time in 10 quarters, but the stock erased an early loss to end higher on the day of the report for the first time in eight quarters.
However, the stock’s strength proved very short lived, as it fell for the next nine sessions—the longest losing streak in eight years.
GE Earnings: More Pessimism Ahead
General Electric (GE) has seen plenty of pain this year, with downgrades, concerns about its balance sheet, and poor technical trends. And that comes after it was the worst-performer in the Dow Jones Industrial Average last year. And don’t expect earnings to bring any relief, if UBS analyst Steven Winoker is right.
Winoker writes that while its new management team is making painful cuts, it has a huge task ahead of it, especially given that GE has taken “countless credibility hits” in the past decade, and that it will take a number of quarters before there will be enough evidence of a turnaround for investors to believe in the stock again.
Cryptocurrency Markets Aren’t All the Same
There’s a compelling reason to consider what’s going on with cryptocurrencies a purely speculative boom-and-bust roller-coaster: Over a three-month period, the prices of all the top coins and tokens are rather strongly correlated, going up and down in unison.
What does that make them if not the 21st-century incarnation of tulip bulbs?
It’s not so simple, though. In the last 30 days, which include a spectacular decline in the dollar price of Bitcoin, the correlations haven’t been so reliable. In some cases, they appear to have broken down. I don’t think that’s an accident.
Apart from relatively ignorant speculators, the cryptocurrency-trading community includes people who are genuinely interested in various applications of the blockchain technology and who are making informed bets on its particular flavors.
Today's Trade of the Day | 1-24-18
Positive news on solar tariffs vaulted FLSR First Solar higher on 2X normal volume only to see the stock price close in the lower third of the range. From a purely technical stand, this bearish engulfing candlestick should lead to lower prices. Since I trade the charts and not the news, that's my game plan.
Looking for a $68 sell stop and for the stock to trade lower with a profit target of $62. If filled and the stock finds buyers again, my stop loss is $69.50. This trade has all the makings of a a fast winner or a fast loser. Be disciplined.
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S&P 500 Heatmap
Stocks to Trade | Wednesday Edition 1-24-18
Bullish Momentum: OSTK, BABA, NTNX, EXEL, AABA, LNG, PLD, SIG, IBM, KORS
Bearish Momentum: fslr, lit, scg
Bullish Order Flow: NKTR, NFLX, KSS, SQ, NVDA, SLB, TGT, LOW, UAL, CHTR, BBY, AMZN, CAH, ADBE, TXN, EOG, PYPL, BA, DG, UPS, ATVI, MA, UNH, CRM, HD, DE, MAR, AMGN, CVX, LYB, JPM, COF, UTX, DLTR, UNP, MMM, HON
Bearish Order Flow: lite eix, duk, aep, d, alk, hcn, scg
Double Normal Volume: NFLX, PG, JNJ, JUNO, FSLR, AMTD, PAYX, MAC
Inside Days: juno, teva, ms, momo, ba, hbi, jnpr, gs, cost, cah, nktr
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