Current Events > GE turning the corner; management maintains guidance

(+) Yeah! (+)

https://www.ge.com/investor-relations/events-reports

Call in 20 minutes, but cliffnotes already released.

https://www.marketwatch.com/story/ges-stock-surges-after-profit-and-revenue-beat-expectations-2018-04-20

Q1 2018: 1.18b loss, which is a massive improvement from last quarter (9b loss). It beat expectations. Revenue beat expectations; power revenue declined less than expected. And this is all with them setting aside 1.5b in case the SEC investigation goes poorly.

This is a huge shock to most analysts who (wrongly) assumed GE's new honest accounting would require a revision down of their forecast--the forecast was made with the accounting process. This is a huge mark of trust for their leadership. IMO, all rallies that occur from here will be on the basis of trustworthiness of Flannery, not even the company's profitability.

JPM's Tusa must be shitting himself right now. He has been doubling down with bear claims day after day and almost certainly has some absurdly leveraged short position against the company.
---

bump

all you people wondering why i was a GE bull this is fucking why
---

That's cool. I put ~$150 on them at $14.94. Obviously chump change but they're going to be my axe fund in a couple years.
---

currently i own 3,000 shares of this fucking company, lol

if they hit 16.25 i'll have broken even.
---

Jesus Christ you put nearly $50k on them? Good luck sir.
---

GE can go down for all I care. The fuckers had record breaking profits in some years like 2012 and played the loophole game to pay ZERO taxes.

yeah i had intended to keep it to ~38k but i left a limit order at 12.99 up that i never believed would fill

at 38k they were about 5% of my total portfolio which is where i keep risky stock bets (my 'hedge' was apple stock which i bought in equal quantities, lol)
---