Markets Keep Gaining Amid Strong Corporate Earnings
Zacks Investment Research | Jan 23, 2018 10:40PM ET
This morning’s pre-market indexes look for fresh all-time highs today, as another robust earnings season hits high gear. Commodities like oil and gold are also starting in positive territory this morning, and the 10-year t-bill is now residing around 2.65%. All good things, relatively.
Let’s start Q4 reports with the worst performer on the Dow Jones Industrial Average through 2017: General Electric (NYSE:GE) . The Zacks Rank #5 (Strong Sell) company with a Zacks Style Score of F (Value, Growth, Momentum) missed bottom line estimates of 28 cents per share by a penny, on quarterly revenues of $31.4 billion which fell far short of the $32.9 billion expected in the Zacks consensus.
For fiscal 2018, GE guidance is currently between $1.00-1.07 per share. Recently installed CEO John Flannery has called 2018 a “reset year,” seeking to reduce corporate costs by $2 billion and laying off 12K GE workers. Also, don’t rule out the possibility of GE being hived off into separate entities at some point in the future. Zacks Investment Research
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