Breaking News Instant updates and real-time market news.

GE

General Electric

$8.24

0.135 (1.67%)

06:56
09/03/19
09/03
06:56
09/03/19
06:56

GE fraud report fails to make compelling argument, says Deutsche Bank

Harry Markopolos' presentation on why he believes General Electric is headed toward bankruptcy fails to make a compelling argument, Deutsche Bank analyst Nicole DeBlase tells investors in a research note. Despite obvious headwinds in the company's "messy" long-term care insurance business, the logic put forth in the presentation "appears largely poorly reasoned," says the analyst. She believes Markopolos mismatched accounting treatments and made comparisons based on data sets too small from which to draw conclusions. "Our aim was to complete an analysis of this broadside, but we find some of its arguments to be weak while others are plainly incorrect," writes DeBlase. The analyst admits, "We find ourselves in the unenviable position of having to defend the reserve adequacy of a business about whose future claim projections we have very deep concerns." She has, and keeps, a Hold rating on shares of General Electric.

  • 09

    Sep

  • 11

    Sep

  • 30

    Oct

GE General Electric
$8.24

0.135 (1.67%)

08/01/19
WBLR
08/01/19
NO CHANGE
WBLR
Outperform
GE operational and financial turnaround building momentum, says William Blair
General Electric's Q2 report yesterday "included further tangible evidence" that its operational and financial turnaround is beginning to build momentum, William Blair analyst Nicholas Heymann tells investors in a research note. GE's year-to-date free cash flow use was $2.2B, down $0.8B from the first half of 2018, while its Industrial organic sales grew sequentially to 7% from 5%, Heymann points out. The analyst reaffirms an Outperform rating on the shares. GE's fundamental prospects and underlying value "continue to remain extremely divergent within the investment community," says Heymann. However, he sees "growing irrefutable evidence that the worst is not only past but also that GE's fundamental forward visibility is gradually beginning to improve as its financial stability returns." The analyst pegs GE's underlying intrinsic value, with no value assigned to Power, between $14 and $16 per share. This range now seems to be a "highly feasible base-case valuation" for the stock over the next 6-12 months, according to Heymann. Shares of General Electric closed yesterday up 2c to $10.45.
08/12/19
JPMS
08/12/19
NO CHANGE
Target $5
JPMS
Underweight
General Electric fundamentals 'continue to look negative,' says JPMorgan's Tusa
JPMorgan analyst Stephen Tusa came away from General Electric's Q2 results with no change to his "well below consensus view." GE Power needs a positive core profit contribution on $1B in negative mix revenue headwind "to just get back to breakeven," Tusa tells investors in a research note. Further, Aviation needs 35% growth in its Military business to hit guidance, adds the analyst. Despite the Street's enthusiasm around a beat to low guidance, GE's fundamentals "continue to look negative," argues Tusa. He keeps an Underweight rating on shares of General Electric with a $5 price target. The stock closed Friday down 34c to $9.15.
08/16/19
WBLR
08/16/19
NO CHANGE
WBLR
Outperform
'The Last Molotov Cocktail?,' asks GE bull William Blair after fraud allegations
In a research note titled "The Last Molotov Cocktail? GE Possesses Adequate Resources to Fund Alleged $18.5 Billion Cash Addition to Loss Reserves, William Blair analyst Nicholas Heymann addresses yesterday's whistleblower report by a forensic accountant alleging fraud at General Electric. The analyst does not believe GE's financial statements purposely misrepresent the company's current financial condition and future potential liabilities. He finds it "hard to believe that GE, which has been engaged with several regulatory reviews of its accounting and financial disclosures for over two years, has fraudulently misrepresented its financial reporting." Further, Heymann finds the effort to portray GE's current financial condition assuming all three alleged cash or noncash charges totaling ~$38B should have been previously recognized is "at best disingenuous and at worst highly inaccurate." The analyst keeps an Outperform rating on General Electric. He believes GE's underlying intrinsic value, with no value assigned to Power, is somewhere in the $14-$16 per share based on enterprise valuations for similar businesses serving the same end-markets. That range is a "highly feasible base-case" valuation for GE's share price over the next 6-12 months, argues Heymann. General Electric closed yesterday down 11%, or $1.02, to $8.01.
08/16/19
GSCO
08/16/19
NO CHANGE
GSCO
GE's LTC statutory reserves per life look greater than peers, says Goldman Sachs
Goldman Sachs analyst Joe Ritchie, in conjunction with Alex Scott, the firm's primary coverage analyst on North American Life Insurance, ran a comparison of Statutory Reserves per life for General Electric's Long-term Care business relative to peers in response to "significant client interest," though the firm is Not Rated on GE. They concluded that GE's statutory reserves per life, adjusted for the reversal of a permitted practice, are greater than any of the peer blocks they were able to locate and that GE's reserve levels compare favorably to peers, though they also said they find this rational as GE's policies have "more aggressive features." The analyst also noted that GE's long term care reserves actuarial review concludes in Q3.

TODAY'S FREE FLY STORIES

AKAM

Akamai

$90.95

-0.13 (-0.14%)

21:13
09/18/19
09/18
21:13
09/18/19
21:13
Downgrade
Akamai rating change  »

Akamai downgraded to…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 18

    Sep

DB

Deutsche Bank

$8.06

-0.125 (-1.53%)

20:32
09/18/19
09/18
20:32
09/18/19
20:32
Hot Stocks
Deutsche Bank lowers prime lending rate to 5.00% from 5.25% »

Deutsche Bank announced…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

PRVB

Provention Bio

$9.70

0.33 (3.52%)

20:31
09/18/19
09/18
20:31
09/18/19
20:31
Syndicate
Provention Bio 5M share Spot Secondary priced at $8.00 »

The deal priced below the…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 02

    Oct

  • 19

    Sep

DRI

Darden

$127.40

1.31 (1.04%)

20:25
09/18/19
09/18
20:25
09/18/19
20:25
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 18

    Sep

  • 19

    Sep

XGN

Exagen

$0.00

(0.00%)

19:48
09/18/19
09/18
19:48
09/18/19
19:48
Syndicate
Exagen 3.6M share IPO priced at $14.00 »

The deal priced at low…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 19

    Sep

PING

Ping Identity

$0.00

(0.00%)

19:35
09/18/19
09/18
19:35
09/18/19
19:35
Syndicate
Ping Identity 12.5M share IPO priced at $15.00 »

The deal priced at the…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 19

    Sep

CBS

CBS

$43.38

0.08 (0.18%)

, T

AT&T

$36.77

-0.39 (-1.05%)

19:04
09/18/19
09/18
19:04
09/18/19
19:04
Periodicals
Viacom, CBS, WarnerMedia pull e-cigarette ads from networks, CNBC says »

CBS (CBS),…

CBS

CBS

$43.38

0.08 (0.18%)

T

AT&T

$36.77

-0.39 (-1.05%)

VIA

Viacom

$27.94

-0.06 (-0.21%)

VIAB

Viacom

$25.77

0.02 (0.08%)

BTI

British American Tobacco

$36.90

0.06 (0.16%)

MO

Altria Group

$40.84

-0.47 (-1.14%)

PM

Philip Morris

$71.58

-0.4 (-0.56%)

IMBBY

Imperial Brands

$0.00

(0.00%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Oct

  • 12

    Nov

CRON

Cronos Group

$10.96

-0.205 (-1.84%)

18:57
09/18/19
09/18
18:57
09/18/19
18:57
Hot Stocks
Cronos Group CEO: We focus on supply and the consumer »

In an interview on…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

MLHR

Herman Miller

$44.48

-0.02 (-0.04%)

, SVRA

Savara

$2.49

-0.14 (-5.32%)

18:46
09/18/19
09/18
18:46
09/18/19
18:46
Hot Stocks
Fly Intel: After Hours Movers »

UP AFTER EARNINGS: …

MLHR

Herman Miller

$44.48

-0.02 (-0.04%)

SVRA

Savara

$2.49

-0.14 (-5.32%)

CBPO

China Biologic

$103.19

0.37 (0.36%)

NCR

NCR Corp.

$33.62

0.77 (2.34%)

MSFT

Microsoft

$138.53

1.13 (0.82%)

TNDM

TNDM

X

U.S. Steel

$12.45

-0.51 (-3.94%)

PRVB

Provention Bio

$9.70

0.33 (3.52%)

PAA

Plains All American

$21.87

-0.315 (-1.42%)

COST

Costco

$292.47

0.96 (0.33%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 19

    Sep

  • 19

    Sep

  • 23

    Sep

  • 01

    Oct

  • 02

    Oct

  • 03

    Oct

  • 21

    Oct

  • 22

    Oct

  • 27

    Oct

  • 05

    Nov

  • 19

    Sep

  • 19

    Sep

  • 19

    Sep

TECD

Tech Data

$103.32

-0.59 (-0.57%)

18:41
09/18/19
09/18
18:41
09/18/19
18:41
Hot Stocks
Tech Data CEO: We are confident in our company and where we are going »

Tech Data CEO Richard…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

T

AT&T

$36.77

-0.39 (-1.05%)

, DISH

Dish

$35.58

0.3 (0.85%)

18:34
09/18/19
09/18
18:34
09/18/19
18:34
Periodicals
AT&T, Dish not in discussions over DirecTV deal, Reuters reports »

AT&T (T) and Dish…

T

AT&T

$36.77

-0.39 (-1.05%)

DISH

Dish

$35.58

0.3 (0.85%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Sep

  • 23

    Oct

AGCO

Agco

$76.04

-0.16 (-0.21%)

18:30
09/18/19
09/18
18:30
09/18/19
18:30
Hot Stocks
Agco CEO: We are on schedule in the U.S. »

In an interview on…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

PBR

Petrobras

$14.63

-0.31 (-2.08%)

18:22
09/18/19
09/18
18:22
09/18/19
18:22
Periodicals
Petrobras raises gasoline, diesel prices in wake of Saudi attacks, Reuters says »

Petrobras has boosted the…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

CE

Celanese

$123.69

-0.28 (-0.23%)

18:01
09/18/19
09/18
18:01
09/18/19
18:01
Hot Stocks
Celanese increases Vinyl Acetate Monomer price in EMEA by EUR50/MT »

Celanese will increase…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

STI

SunTrust

$68.57

0.48 (0.70%)

18:00
09/18/19
09/18
18:00
09/18/19
18:00
Hot Stocks
SunTrust lowers prime lending rate to 5% from 5.25% »

Following the Federal…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

WBS

Webster Financial

$48.84

0.43 (0.89%)

17:53
09/18/19
09/18
17:53
09/18/19
17:53
Hot Stocks
Webster Financial lowers prime lending rate to 5.0% from 5.25% 

Effective September 19.

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 18

    Sep

  • 13

    Nov

HSBC

HSBC

$38.19

-0.1 (-0.26%)

17:52
09/18/19
09/18
17:52
09/18/19
17:52
Hot Stocks
HSBC decreases prime lending rate to 5% from 5.25% »

HSBC Bank USA and its…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 27

    Oct

HES

Hess Corp.

$66.91

-0.92 (-1.36%)

17:50
09/18/19
09/18
17:50
09/18/19
17:50
Hot Stocks
Hess Corp. COO sells 17,750 common shares »

In a regulatory filing,…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 01

    Oct

  • 02

    Oct

CSCO

Cisco

$49.32

-0.1 (-0.20%)

, DDOG

Datadog

$0.00

(0.00%)

17:46
09/18/19
09/18
17:46
09/18/19
17:46
Periodicals
Cisco approached Datadog with $7B+ takeover bid, Bloomberg says »

Cisco (CSCO) approached…

CSCO

Cisco

$49.32

-0.1 (-0.20%)

DDOG

Datadog

$0.00

(0.00%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 10

    Oct

  • 13

    Nov

  • 19

    Sep

ASB

Associated Banc-Corp

$20.23

0.075 (0.37%)

17:46
09/18/19
09/18
17:46
09/18/19
17:46
Hot Stocks
Associated Banc-Corp lowers prime rate to 5.0% from 5.25% 

Effective September 19.

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

GLD

SPDR Gold Shares

$140.69

-0.93 (-0.66%)

17:45
09/18/19
09/18
17:45
09/18/19
17:45
Hot Stocks
SPDR Gold Shares holdings rise to 883.60MT from 880.37MT »

This is the second…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

T

AT&T

$36.77

-0.39 (-1.05%)

, DISH

Dish

$35.58

0.3 (0.85%)

17:44
09/18/19
09/18
17:44
09/18/19
17:44
Periodicals
AT&T exploring options to part with DirecTV unit, WSJ says »

AT&T (T) is looking…

T

AT&T

$36.77

-0.39 (-1.05%)

DISH

Dish

$35.58

0.3 (0.85%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Sep

  • 23

    Oct

CBPO

China Biologic

$103.19

0.37 (0.36%)

17:43
09/18/19
09/18
17:43
09/18/19
17:43
Hot Stocks
China Biologic up 7% after receiving 'going private' proposal for $120 per share »

In after-hours trading,…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

T

AT&T

$36.77

-0.39 (-1.05%)

, DISH

Dish

$35.58

0.3 (0.85%)

17:42
09/18/19
09/18
17:42
09/18/19
17:42
Hot Stocks
AT&T, Dish move higher after WSJ report that AT&T has explored DirecTV options »

Shares of both AT&T…

T

AT&T

$36.77

-0.39 (-1.05%)

DISH

Dish

$35.58

0.3 (0.85%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Sep

  • 23

    Oct

GSK

GlaxoSmithKline

$41.06

-0.04 (-0.10%)

17:41
09/18/19
09/18
17:41
09/18/19
17:41
Periodicals
FDA panel recommends approval of GSK's nicotine oral spray, Reuters says »

An independent expert…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 18

    Sep

  • 24

    Sep

  • 27

    Sep

  • 02

    Oct

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.