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Non-Tech : General Electric (GE)

GE 308.95

-0.6%

Oct 31 9:30 AM EST

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From: E_K_S	11/13/2019 2:36:45 PM
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GE pulls back as Tusa says company is 'missing guidance on core business' Nov. 13, 2019 2:27 PM ET\|About: General Electric Company (GE)\|By: Carl Surran, SA News Editor General Electric ( GE -1.5%) is lower and the culprit may be longtime bearish J.P. Morgan analyst Stephen Tusa, who published another negative analysis of the stock, which he rates at Underweight. GE has jumped more than 25% since reporting better than expected Q3 earnings on Oct. 30, which Tusa says has been propelled by "the notion that management has set a bottom on fundamentals, with the company raising guidance a sign of change in the revision trajectory." Tusa disagrees with the premise, saying earnings headlines are a "small fraction of meaning when it comes to forward fundamentals," and GE is "missing guidance on core business [operating earnings] that was set in March." Tusa thinks the reason for the upside forecast is lower restructuring spending, an area of improvement he does not consider a sign of a turn in GE's business fundamentals.

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