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GE

General Electric

$18.56

-0.46 (-2.42%)

10:10
11/14/17
11/14
10:10
11/14/17
10:10

Early option action in GE as shares continue the slide to multi-year lows

Early option action in GE as shares continue the slide to multi-year lows. The stock down 41c to $18.61 and 16K Dec 8th 18.5 - 19 put spreads sold at 24c and likely rolling long puts down .5 strikes. The 19-strike puts were apparently opened just yesterday for 46c and closed today at 77c. Nov 18, 18.5, and 19 puts are next most active in GE Tuesday morning. Total volume is 80K puts and 36K calls. 30-day implied volatility up 3% to 29.2 and in the 95th percentile of the one-year range.

  • 14

    Nov

  • 15

    Nov

GE General Electric
$18.56

-0.46 (-2.42%)

11/14/17
BOFA
11/14/17
NO CHANGE
Target $23
BOFA
Buy
BofA/Merrill sticking with a Buy on General Electric
BofA/Merrill analyst Andrew Obin said General Electric's dividend cut and lowered 2018 outlook are a "true reset" while the $6B pension refunding in 2018 through debt issuance should reduce some of the concerns about off-balance sheet liabilities. Obin said the company is focused on the core portfolio and is evaluating other options withing its portfolio, where there is significant optionality. The analyst did cut his estimates and reduced his price target on General Electric shares to $23 from $27 but is sticking with his Buy rating.
11/14/17
RBCM
11/14/17
DOWNGRADE
Target $20
RBCM
Sector Perform
GE downgraded to Sector Perform at RBC Capital on protracted turnaround
As reported earlier, RBC Capital analyst Deane Dray downgraded General Electric to Sector Perform from Outperform and cut his price target to $20 from $25. Dray says that he now expects the turnaround at the company to be more protracted than previously anticipated, noting the roadmap laid out by new CEO John Flannery fell short of expectations regarding the scope of the business model/portfolio changes. The analyst says the investment community was especially disappointed by the scope of the "missteps and secular challenges", as well as the systemic cash flow shortfalls, in the Power segment, along with the disclosure that the company's dividend payout was above the scope of industrial cash flows for several years.
11/14/17
JPMS
11/14/17
NO CHANGE
Target $17
JPMS
Underweight
GE investor day reinforced JPMorgan's Tusa view of downside in shares
JPMorgan analyst C. Stephen Tusa believes the lowered numbers and validation of fundamental challenges discussed yesterday at General Electric's investor day reinforce his view of downside in the stock. The analyst views the $1.00 in earnings per share for 2018 as a "starting point," and says the "true high quality run rate here" is closer to free cash flow at around 75c per share. Dilution from asset sales, likely in the range of 10c, brings next year's earnings per share to a sustainable base of 65c, Tusa tells investors in a research note. On the dividend cut, the analyst believes it is fundable in the near term with debt and asset sales, though he cautions that a "downturn or spin/split would make for another chapter in this debate." Tusa keeps an Underweight rating on GE shares with a $17 price target. The stock closed yesterday down $1.47, or 7%, to $19.02.
11/14/17
RBCM
11/14/17
DOWNGRADE
RBCM
Sector Perform
General Electric downgraded to Sector Perform from Outperform at RBC Capital

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Analog Devices

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AAPL

Apple

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-8.7 (-4.68%)

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SWGAY

Swatch Group

$0.00

(0.00%)

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$0.00

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DXCM

DexCom

$119.89

-1.34 (-1.11%)

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Alphabet

$1,026.00

7 (0.69%)

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$119.89

-1.34 (-1.11%)

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Alphabet

$1,026.00

7 (0.69%)

GOOGL

Alphabet Class A

$1,031.22

4.99 (0.49%)

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JD

JD.com

$19.49

-1.6 (-7.59%)

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BBY

Best Buy

$63.54

1.35 (2.17%)

06:26
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11/21
06:26
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06:26
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  • 05

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DE

Deere

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LOW

Lowe's

$86.15

-5.19 (-5.68%)

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Home Depot

$169.17

-4.45 (-2.56%)

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LOW

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HD

Home Depot

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-4.45 (-2.56%)

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BJ

BJ's Wholesale

$19.85

-0.22 (-1.10%)

06:21
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DNSKY

Danske Bank

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(0.00%)

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CMCO

Columbus McKinnon

$34.04

-0.56 (-1.62%)

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Conference/Events
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DFS

Discover

$68.27

-1.315 (-1.89%)

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EMES

Emerge Energy

$2.73

0.03 (1.11%)

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DE

Deere

$138.49

-4.04 (-2.83%)

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CLGX

CoreLogic

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-0.32 (-0.81%)

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DE

Deere

$138.49

-4.04 (-2.83%)

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DE

Deere

$138.49

-4.04 (-2.83%)

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NSANY

Nissan

$0.00

(0.00%)

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Renault

$0.00

(0.00%)

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Nissan

$0.00

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RNSDF

Renault

$0.00

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MMTOF

Mitsubishi Motors

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(0.00%)

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EIX

Edison International

$52.80

-1.21 (-2.24%)

06:13
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DE

Deere

$138.49

-4.04 (-2.83%)

06:12
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Earnings
Deere sees FY19 equipment revenue up about 7%, consensus $36.04B »

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ALB

Albemarle

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DE

Deere

$138.49

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Earnings
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CAL

Caleres

$30.93

-1.165 (-3.63%)

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FL

Foot Locker

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