General Electric is the 'ultimate show-me' industrials stock, strategist warns
GE has topped the industrials sector in the past three months, but Tocqueville Asset Management's John Petrides needs more proof before he's ready to buy into the turnaround.XLI industrials ETF over that stretch, as its turnaround efforts take root. John Petrides, portfolio manager at Tocqueville Asset Management, needs more proof before he has faith in a comeback. "GE is the ultimate show-me story, and we're beyond hope. Hope was when [CEO] Larry Culp took over and now we're in the 'can they execute?' [stage], and they need to do it over a series of quarters. If you're getting on the GE bus at this point, you're doing it for the long term, not for a quarterly move, and I think we need to see more time for this to play out to be convinced," Petrides said Thursday on CNBC's " Trading Nation ." Culp was named as chief executive in October 2018, taking over for long-time GE executive John Flannery. Since Culp was named, shares have risen more than 8%. It closed Thursday's trading at $11.77. There could still be a short-term play here, said Ascent Wealth Partners managing director and technical analyst Todd Gordon. "$7.05 is the all-time low in this stock, we've bounced off it," Gordon said during the same segment. "We've seen a nice bid from that Morgan Stanley note. I actually did add it to my position here. Right now, they have an upside target of about $14 here. I think that is well within reason." Morgan Stanley upgraded to overweight on Thursday based on improvements in GE's power business and strength in its aviation unit. Analysts raised their price target to $14, but kept $9 as a bear case. "Morgan put out a $9 fundamental floor in the stock right here. I actually think you don't need to give it much below $11," said Gordon. Petrides says a pickup in the global economy could help bolster GE's bull case. "We are in what has been a global industrial recession. So, the U.S. consumer has been holding the global economy up, and there's hope because the 'phase one' deal with China was struck. That's going to help the industrial economy out, we need to see that play out in the numbers," Petrides added. Disclosure: Gordon and Petrides have positions in GE. Read more: CNBC
U.S. showing 'many' genocide warning signs under Trump, expert says: 'I am very, very worried'Academic Brynn Tannehill said that the U.S. does not exhibit some of the key signs of pre-genocide society, but that the country's political trend is deeply concerning. It is very irresponsible to post something like this. Sad to see such bias from a once great media outlet The media are unhinged democrats ever since Trump beat Hillary. Let wing media is going too far. You could kind of see it coming on election night, 2016. The reactions, nervous breakdowns on national TV from people like Rachel Maddow, crying etc. Newsweek is a joke.
Not enough evidence that e-cigarettes help to stop smoking, surgeon general saysThere’s clear evidence showing that e-cigarettes leads people to start smoking, Surgeon General says NBC is just posting more fakenews, folks. He should explain why 90% of cigarette smokers started smoking as children before vaping ever existed
There’s clear evidence showing that e-cigarettes lead people to start smoking, Surgeon General saysThere’s clear evidence showing that e-cigarettes leads people to start smoking, Surgeon General says Smoked for 35 years. Smoke free for the last 8 years because of vaping. quit cigarrets for 8 years now tks to ecigs!
Hedge fund giant Seth Klarman says the 'rocket fuel' feeding this rally will soon 'run out'Hedge fund giant Seth Klarman wrote in a letter to investors that “the rocket fuel that has propelled markets in 2019 will run out.” He's wrong. He's a hm; that's why he needs the market to drop big time. Lol! 😂 Dont they always! But just in a different disguise!😂 its the skeletons that always come out that are always the most interesting!
Semis stocks crashed 27% the last time the charts flashed this signalSemis stocks crashed 27% the last time the charts flashed this signal $SMH $SOXX $AMD $TXN (via TradingNation) TradingNation Zero chance
Wendy Williams Confirms Divorce from Kevin Hunter Is Finalized: 'The New Chapter Has Been So Lovely''After nine months, yes, I am fully divorced,' the daytime host said during her appearance on The Tonight Show Starring Jimmy Fallon Good for Wendy. Allow daddy to go change those stinky diapers. Lucky guy! 👍