Shares in General Electric (GE) took a 2.3% hit on Thursday following a downgrade from CFRA analyst Colin Scarola, reversing some of the week’s earlier gains. The stock is now trading down 36% year-to-date versus 17% for the Dow Jones Industrial Average.“Previously, we thought GE’s long-term earning power would increase with deleveraging, but we now see significant risk that Biopharma sale proceeds earmarked for debt reduction will be diverted to backstop large operating losses in Aviation, Power, and Renewable instead,” Scarola told investors.“Despite the cash burn we expect in 2020, our lower rating is ultimately due to a highly uncertain outlook for GE’s balance sheet and earning power in 2021 and beyond” he explained.On Wednesday the stock gained 3.8% after GE released its financial guidance and first-quarter performance update.GE revealed that it preliminarily expects adjusted 1Q EPS to be “materially below” its prior guidance on March 4, 2020 of about $0.10, and...
On CNBC's "Mad Money Lightning Round," Jim Cramer said he would let go of Stryker Corporation (NYSE: SYK), unless it gets a takeover. He thinks its procedures are optional now and there is no room in hospitals for that to happen.Plug Power Inc (NASDAQ: PLUG) is to speculative, thinks Cramer.If you want to buy an oil company, instead of Exxon Mobil Corporation (NYSE: XOM), Cramer would buy Chevron Corporation (NYSE: CVX), Diamondback Energy Inc (NASDAQ: FANG), EOG Resources Inc (NYSE: EOG), Pioneer Natural Resources (NYSE: PXD) or Parsley Energy Inc (NYSE: PE).Polaris Inc (NYSE: PII) is a pretty interesting opportunity for the long term, said Cramer. It has a 4% yield.Calithera Biosciences Inc (NASDAQ: CALA) is a very interesting spec, thinks Cramer.Capital One Financial Corp. (NYSE: COF) always comes back, but it is giving shares away, believes Cramer. He would rather own Wells Fargo & Co (NYSE: WFC).Related Links:Oil Prices Rise,...
Top oil nations pushed to finalise a deal on sweeping oil cuts at G20 talks on Friday to lift prices slammed by the coronavirus crisis with Russia and Saudi Arabia taking the lion's share and the United States showing unusual willingness to help out. Riyadh, Moscow and its allies, which make up the informal OPEC+ group, had forged a pact to curb crude production by the equivalent of 10% of global supplies in marathon talks on Thursday and said they wanted others to cut a further 5%....
Top oil nations were finalising a deal at G20 talks on Friday for big output cuts to lift prices slammed by the coronavirus crisis with Russia and Saudi Arabia taking a lion's share and signs the United States might take unprecedented moves to help. Riyadh, Moscow and its allies, which make up the informal OPEC+ group, had forged a pact to curb crude production by the equivalent of 10% of global supplies in marathon talks on Thursday and said they wanted others to cut a further 5%....
(Bloomberg) -- An historic multilateral deal to lower global oil production and stabilize prices, led by record cuts from Saudi Arabia and Russia, is at risk of collapse after Mexico refused to sign up.The impasse casts doubt on efforts to revive the market from a debilitating coronavirus-induced slump. The deal by the coalition of nations known as OPEC+, which dwarves s previous interventions and has been sponsored by U.S. President Donald Trump, would end the price war between Riyadh and Moscow that helped pushed oil down to the lowest in almost two decades.Speaking at a press conference on Saturday morning, Mexican President Andres Manuel Lopez Obrador said he had talked to Trump and had reached a deal with OPEC+, but it wasn’t immediately clear if his position had shifted.Saudi Arabia made the whole deal dependent on Mexico’s participation, pinning an accord to remove more than 10% of global production from the...
