We hear on the rumor mill that UBS has downgraded GE on the dilution effects new equity issues are likely to have. GE looked like a genius for being in the finance business, both for the returns, and to boost sales by having tight control over underwriting for their more cash challenged customers. Today, that division is, of course, a huge weight around GE’s neck. GE enjoyed the fruits of yesterday’s rally. The stock hadn’t flirted with the teens since 2003, and watching it slip below $20 recently was a bemusing, if sad, experience. No word on what Jack may have called Jeff in the later hours of those days.
Charty Goodness after the jump.
Update: Added 10 year and 5 days charts to satisfy some irate (but erroneous) commenters.
Too boring. Where is Muffy?
true that EP. Where were you on this short. Stock was trading at $25 when i pointed out it was Citigroup with a tv studio bolted on.
3:00…sell sell sell sell!!!!!!!
Jeff has a restraining order on Jack.
Two years ago Jack Welch and Alan Greenspan were Gods. Times have changed. Although GE was smart to sell FGIC and some other finance related subs before the collapse.
Book idea. Jack Welch, Straight from the Colon. Edited by his gal Suzy Wetlicker.
Why does DB ignore Sumner Redstone. That old phart is funny. His kid Shari is busy building movie theaters that nobody goes to. Some sumner have nekid pictures of Bess?
“GE enjoyed the fruits of yesterday’s rally”
Too lazy to check quotes? GE dropped yesterday, during the rally. Nice job fact-checking.
nice catch. not to mention -
“The stock hadn’t flirted with the teens since 2003, and watching it slip below $20 recently was a bemusing, if sad, experience.”
10/9/2008 close: 19.01
10/9/2008 low: 19.00
10/8/2008 low: 19.90
10/6/2008 low: 19.69
but don’t let facts, or google finance or any other basic financial acumen get in your way. carry on!
@#7:
“The stock hadn’t flirted with the teens since 2003, and watching it slip below $20 recently was a bemusing, if sad, experience.”
10/9/2008 close: 19.01
10/9/2008 low: 19.00
10/8/2008 low: 19.90
10/6/2008 low: 19.69″
Uh, this was my point. Perhaps I wasn’t clear. Before “recently” the stock hadn’t flirted with the teens since 2003. Hence “watching it slip below $20 RECENTLY” (emphasis mine). I’ve added a 10 year chart to make this more clear.
“”GE enjoyed the fruits of yesterday’s rally”
Too lazy to check quotes? GE dropped yesterday, during the rally. Nice job fact-checking.”
I’ve added a 5 day chart to make this clear. GE had a nice bump on the rally. That it didn’t last the day, well, those are just the breaks.
#8 too long, didn’t read.
#7