General Electric (NYSE:GE) finds itself a whisker away from yet another major breakdown. Last week's earnings report had a chance at rescuing GE stock but it didn't. And now, the fallen giant is knocking on the door of a support break, which could bring in renewed selling pressure.Source: Sundry Photography / Shutterstock.com Today, we're walking through GE's grim outlook and identifying what is needed to turn the sinking ship's chart around. Relative Weakness Spells DangerIf General Electric were tracking the recovery of the S&P 500 index, we could interlace our analysis with some optimism. After all, the broad market is 30% off recent lows and been able to maintain the gains for almost two months now. The snapback has been historic in size and as consistent as buyers could have hoped.InvestorPlace - Stock Market News, Stock Advice & Trading TipsEver since the March 23 low, all selloffs have been shallow. Believe...
After Spotify Technology SA (NYSE: SPOT) CEO Daniel Ek accused Apple Inc. (NASDAQ: AAPL) of not being open-enough to third-party apps, Ek was criticized by the co-founder of speaker maker Sonos Inc. (NASDAQ: SONO) for similar practices.What Happened Spotify's ecosystem is even more closed than that of Apple's according to John MacFarlane, co-founder of Sonos. MacFarlane tweeted on Wednesday, "Solid irony here." He elaborated, "Having worked closely with both Apple and Spotify, I would say it's more significantly more difficult to work within Spotify's "closed" ecosystem than Apple's." Ending the tweet on a conciliatory note he added, "Respect and appreciate both companies, but "open" Spotify is not."MacFarlane also provided the link to Bloomberg's interview with Ek in his tweet. The Spotify CEO said in the interview that there had been encouraging signs from Apple like allowing Siri to control music services other than Apple Music. He attributed the changes to an...
Tesla Inc. (NASDAQ: TSLA) on Thursday confirmed that its Shanghai Gigafactory is currently shut down for production, the Nikkei Asian Review reported on Friday (Tokyo time).What Happened The electric vehicle maker however denied earlier reports that suggested the closure was due to a "component shortage" that the manufacturing plant was facing."Tesla Shanghai is adjusting to normal production due to test run[s] and maintenance of production lines that were carried out during the recent holidays," Tesla said in a statement, according to the Nikkei. "All work is being executed according to plan."Bloomberg earlier reported that following a five days long public holiday in China starting May 1, workers at the Shanghai plant were asked to extend the break until May 9.Why It Matters The Chinese gigafactory was the sole Tesla plant that was still seeing manufacturing, as the automaker's facilities in the United States remain shut due to shelter in place orders...
(Bloomberg) -- Wall Street’s biggest firms are divided on where markets are heading to next.While most risk assets are well off their mid-March lows, when uncertainty about the global impact of the coronavirus outbreak was at its peak, there is little consensus on what is to follow. At the core of the debate is the long-term effectiveness of the massive stimulus from central banks and governments.When $8 Trillion in Global Fiscal Stimulus Still Isn’t EnoughCitigroup Inc., for one, doesn’t get the “puzzling” rise in stocks.“Extensive policy response, led by ample liquidity provided by central banks, likely contributed to the move in the markets,” economists including Igor Cesarec and Catherine Mann wrote in a note Thursday. “However, since it is not clear that markets can be propped up indefinitely, caution is warranted. Risk assets could be fragile once the cold, hard economic reality hits again.”On the other hand, JPMorgan Chase & Co....
Tesla Inc. (NASDAQ: TSLA) patented a new battery cell on Thursday, which contains a tabless electrode that Elon Musk has termed as "important." What Happened Writing about the constraints with current batteries in its patent application, the automaker stated in its patent application, "Current cells use a jelly-roll design in which the cathode, anode, and separators are rolled together and have a cathode tab and an anode tab to connect to the positive and negative terminals of the cell can." Tesla explained, "The path of the current necessarily travels through these tabs to connectors on the outside of the battery cell. However, ohmic resistance is increased with distance when current must travel all the way along the cathode or anode to the tab and out of the cell. Furthermore, because the tabs are additional components, they increase costs and present manufacturing challenges."Tesla has invented a technology which it calls "Cell with...
