GE Falls Most on Dow After Goldman Warns of Profit Forecast Cut
April 16, 2018, 6:51 PM GMT+3
- Outlook for 2018 at risk ahead of earnings report: analyst
- Restated earnings for last year slightly worse than expected
General Electric Co. fell after Goldman Sachs said the manufacturer’s restated financials put its 2018 profit forecast at risk.
After GE Earnings Restatement, This Bad News Is ‘Almost A Certainty’
General Electric (GE) stock was hit yet again Monday after a Wall Street analyst said its restated financials have put its 2018 profit forecast at risk.General Electric Co. fell after Goldman Sachs said the manufacturer’s restated financials put its 2018 profit forecast at risk.
GE books $4.2 billion charge, restates earnings as expected
4 MIN READ
The maker of power plants, jet engines, medical devices and other industrial goods had estimated the after-tax, non-cash impact would be about $4.2 billion, plus reduced earnings for 2016 and 2017 of about 29 cents a share.
It is not looking very pretty for GE. They are expected to have a low Earnings report and we will see another Sell Off for this Asset. Right now, it has been reported that their balance sheet is filled with bad acquisitions and a lot of debt. Earnings for GE come out Pre-Market on the 20th. I can see this asset going to $11.00 when earnings are released. Trades for this event need to be in ASAP!