Millennial investors are snapping up GE (GE) – Finance

  • General electric Called Lawrence Kalpa as his new CEO earlier this month.
  • Investors by Robinhood, an app for free trading, popular among young traders, is captivating stocks.
  • This month, the company intends to present its results for the third quarter.
  • All eyes are watching closely how the new leadership will reset the company.
  • See here General Electric Trading in real time.

General electric called Lawrence Kalpa his new CEO earlier this month and investors on Robin Hood, a free trade app, popular with young traders, accumulate in stocks, ahead of the company's third quarter results.

According to the weekly data monitored by Business Insider, a total of 5,381 investors added GE to their portfolios this week, making it the second largest share after Tesla over the past week. GE is the 6th most popular application stock, which currently has over 166,000 Robinhood investors. This is 5% more than two weeks ago – when Culp was not yet the CEO.

And confidence in Culp is not limited to investors of Robinhood, while stocks are gaining more than 13%, since on October 1, it was announced that Culp was hired. And Wall Street analysts had good things to say about rentals.

“We have been familiar with Mr. Culp for more than 15 years and deeply respect his leadership and relentless orientation towards excellence and accountability,” said the RBC team of analysts led by Dean Drey shortly after receiving Culp.

And on Thursday, UBS analyst Stephen Vinoker said: "We have every confidence that Larry Culp, the CEO, is the leader in this post, but we want to be realistic too much about efforts and timeframes." Winoker has a “neutral” rating and a target price of $ 13, close to the current price.

Calpa was tasked with wrapping the struggling company. In its income statement for the second quarter, the company stated that profits from its energy business fell 58%, but he was able to match expectations with a steady increase in profits in his aviation and medical enterprises. At that time, CEO John Flannery said he was expecting energy business "will remain weak until 2020", and that the company will miss the fiscal year tax guide.

Along with the appointment of Kalpa, GE also announced that it would charge $ 23 billion for its energy business. The United States, and states that free cash flow and profit estimates for the 2018 fiscal year are likely to miss their goals.

GE is expected to earn a adjusted $ 0.21 per share for revenue of $ 30.13 billion. When it reports its quarterly results on October 25.

Shares this year fell by 29%.

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(Insider Markets)


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