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GE

General Electric

$11.10

-0.2 (-1.77%)

06:35
10/30/18
10/30
06:35
10/30/18
06:35

General Electric reports Q3 adjusted EPS 14c, consensus 20c

Reports Q3 revenue $29.57B, consensus $29.92B.

  • 30

    Oct

GE General Electric
$11.10

-0.2 (-1.77%)

10/26/18
GDHS
10/26/18
NO CHANGE
Target $11
GDHS
Underperform
GE may owe billions more on insurance reserves, says Gordon Haskett
General Electric could end up owing billions more dollars for its insurance reserves, on top of the $15B in cash already committed, from an accounting change announced in August. Accounting firms and ratings agencies are apparently just beginning to assess the impact of the Financial Accounting Standards Board issued ASU 2018-12, "Targeted Improvements to the Accounting for Long-Duration Contracts," Gordon Haskett analyst John Inch tells investors in a research note. The ASU 2018-12 changes will apply to insurance companies, including GE, that issue long-duration contracts such as life insurance, disability income, long-term care insurance and annuities, says the analyst. The changes are effective starting at the beginning of 2021. Inch points out that GE lowered its discount rate, or the insurer's expected investment yield, from 6.2% to 5.7% in 2017, which was one of the drivers of its $9.5B pre-tax GAAP charge announced in January. However, after talking with ratings agency, the analyst believes a 5.7% rate is too high and will likely have to come down with the new FASB standard. "At this juncture, while the precise degree of mandated decline remains uncertain, the magnitude is expected to be significant," Inch writes. GE previously disclosed, according to the analyst, that a hypothetical 25 basis point decline in expected investment yield, holding all other assumptions constant, would result in a $1B increase in future policy benefit reserves. Inch has an Underperform rating on General Electric with an $11 price target. The stock in premarket trading is down 16c to $11.64.
10/25/18
JPMS
10/25/18
NO CHANGE
Target $10
JPMS
Underweight
General Electric may be double counting up to $18B of assets, says JPMorgan
JPMorgan analyst Stephen Tusa says that after deeper analysis of the company's consolidated financial statements, "there emerges further support" for his view of "how challenged the financial situation" is at General Electric. The company has $100B of net liabilities at present, which after normalizing interest expense, suggests GE is currently generating zero free cash flow into 2019 including Healthcare, and negative $4B including the dividend, Tusa tells investors in a research note titled "Potential Double Counting of Assets Makes Leverage Math More Negative." The analyst thinks investors and rating agencies may be overlooking that a range of $12B-$18B in assets may be "double counted" by GE. "Whether a critical near term liquidity issue or not, this is something that we believe needs to be addressed by new management to move from a low quality levered, financially engineered laggard that we believe deserves a discount, to one that deserves parity, potential actions around which to remedy we see as ultimately dilutive for the equity holder," says Tusa. He keeps an Underweight rating on General Electric with an $18 price target.
10/12/18
GDHS
10/12/18
INITIATION
Target $11
GDHS
Underperform
General Electric initiated with an Underperform at Gordon Haskett
Gordon Haskett analyst John Inch started General Electric with an Underperform rating and $11 price target. GE is going to take a "very long time to turn around, no matter who is at the helm," Inch tells investors in a research note. He believes it is not clear that incremental value is being created by the company's actions to shrink and shuffle its debt. Further, he believes the Power business is facing negative secular pressures that are helping to constrict cash flow.
10/12/18
FBCO
10/12/18
INITIATION
FBCO
Outperform
EE, MI Sector initiated with Opportunistic View at Credit Suisse
Credit Suisse analyst John Walsh initiated the U.S. Electrical Equipment and Multi-Industry Sector with an Opportunistic View, telling investors in a research note that he believes at this point in the cycle stock appreciation will be driven by earnings growth and capital allocation. He is most positive on energy-related and non-residential end markets while cautious on Fossil Power markets. Specifically, Walsh initiated Allegion (ALLE), Eaton (ETN), Ingersoll-Rand (IR), Lennox (LII), 3M (MMM) and Xylem (XYL) with Outperform ratings, Acuity Brands (AYI), Emerson (EMR), Flowserve (FLS), Fortiv (FTV), GE (GE), Honeywell (HON) and Johnson Controls (JCI) with Neutral ratings and Rockwell Automation (ROK) with an Underperform rating.

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ETFC

E-Trade

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0.65 (1.35%)

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TEX

Terex

$35.29

-0.3 (-0.84%)

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CZR

Caesars

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ERJ

Embraer

$20.85

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6.57 (1.57%)

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BA

Boeing

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6.57 (1.57%)

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BXG

Bluegreen Vacations

$14.47

0.55 (3.95%)

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SM

SM Energy

$16.88

-0.13 (-0.76%)

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AN

AutoNation

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TSLA

Tesla

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3.42 (1.17%)

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Tesla

$294.60

3.42 (1.17%)

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FSFG

First Savings Financial Group

$51.33

0.22 (0.43%)

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MSFT

Microsoft

$110.97

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ENT

Global Eagle

$2.66

(0.00%)

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NOC

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$288.84

2.54 (0.89%)

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LYB

LyondellBasell

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TCCO

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INFU

InfuSystem

$4.15

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KALU

Kaiser Aluminum

$108.22

-1.9 (-1.73%)

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ALDR

Alder Biopharmaceuticals

$14.35

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  • 25

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RF

Regions Financial

$16.24

-0.01 (-0.06%)

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HL

Hecla Mining

$2.59

-0.145 (-5.31%)

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BMY

Bristol-Myers

$50.99

0.84 (1.68%)

, CELG

Celgene

$89.15

0.54 (0.61%)

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$50.99

0.84 (1.68%)

CELG

Celgene

$89.15

0.54 (0.61%)

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TEN

Tenneco

$36.29

0.76 (2.14%)

16:48
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Earnings
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  • 25

    Feb

TEN

Tenneco

$36.29

0.76 (2.14%)

16:46
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