UBS ETRACS Alerian MLP Infrastructure Index ETN
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MLPI UBS ETRACS Alerian MLP Infrastructure Index ETN
RUN Sunrun Inc
BAC Bank of America Corp
HLT Hilton Worldwide Holdings Inc
MNMT Motivating Masses Inc
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KOPN Kopin Corp
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Closing Price
$18.57
Day's Change
0.00 (0.00%)
Bid
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Ask
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B/A Size
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Day's High
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Day's Low
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Volume
(Light)
Volume:
0

10-day average volume:
1,691,161
0

GE's stock extends selloff toward 4-month low; J.P. Morgan's Tusa affirms bearish view

2:17 pm ET August 12, 2019 (MarketWatch)
Print

Shares of General Electric Co. (GE) slid 1.6% in afternoon trading Monday, to put them on track for the eighth loss in the nine sessions since the industrial conglomerate reported second-quarter results. The stock is on track for the lowest close since April 15. It has tumbled 14% since GE reported before the July 31 open earnings that beat expectations (http://www.marketwatch.com/story/ges-stock-sinks-on-heavy-volume-a-day-after-announcing-earnings-cfo-departure-2019-08-01), but said its CFO was leaving after less than two months in the role. J.P. Morgan analyst analyst Stephen Tusa reiterated his underweight rating and $5 stock price target, which is 44% below current levels. He wrote in a note to clients that GE's results support his view that "the company may have fewer options than many think, forcing a protracted, drawn-out approach to the problems, a negative given cycle timing, and at odds with the message of urgency from last fall." The stock has still gained 23.7% year to date but has shed 26.7% over the past 12 months. In comparison, the Dow Jones Industrial Average has gained 11.4% this year and tacked on 2.6% over the past year.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

August 12, 2019 14:17 ET (18:17 GMT)

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