General Electric

General Electric Plunges 8% After Slashing Guidance

General Electric shares plunged 8% in the pre-market after the company cut its 2017 profit forecast while its new CEO grapples with one of the deepest slumps in the iconic US manufacturer’s history. The company reported that adjusted earnings this year are expected to be only $1.05 to $1.10 per share, down over 30% from a previous range of $1.60 to $1.70 a share.

Frontrunning: October 19

  • Rajoy Deploys Ultimate Weapon of Law on Catalonia (BBG)
  • Congress Rolls Toward Shutdown Fight Over Immigration, Obamacare (BBG)
  • Hong Kong Stocks Tumble Most This Year as Geely, Developers Sink (BBG)
  • Inside battle imperils $230 million cryptocurrency deal (Reuters)
  • From Damascus, Iran vows to confront Israel (Reuters)

The Cost Of Delusion - Asset Prices & Monetary Policy In An Irrational World

"The lesson for investors is that much of the picture presented today in prices for various assets classes is an illusion foisted upon us all by reckless central bankers. Yellen and her colleagues seem to think that they can spin straw into gold by manipulating markets and asset prices..."

Hedge Fund CIO: "Never In Human History Have So Many Things That Weigh Nothing Had So Much Value"

Never in human history have so many things that weigh nothing had so much value, fueled such vast fortunes. Data weighs nothing. Knowledge weighs nothing. Software weighs nothing. Algorithms weigh nothing. And as the singularity approaches - that point when artificial intelligence surpasses all human intelligence - we struggle to fathom its infinite weight, uncertainty.

Frontrunning: October 10

  • Thousands Flee as Deadly Fires Ravage California Wine Country (WSJ)
  • Trump Allies Fear Corker Feud Threatens Tax Plan (BBG)
  • Catalans Face Day of Reckoning (BBG)
  • Puerto Rico’s $74 Billion Burden Left It Helpless When Maria Hit (BBG)
  • Brain Drain Index: The Smartest Americans Are Heading West (BBG)

Frontrunning: October 3

  • Gunman had ‘bump-stock’ device that could speed fire (AP)
  • Supreme Court Takes On Partisan Gerrymandering (WSJ)
  • Tom Petty, 'distinctively American' rocker, dies aged 66 (Reuters)
  • White House: Now Isn’t the Time to Talk With North Korea (WSJ)
  • Dems plan to make gun control an issue in Nevada (The Hill)

Frontrunning: September 26

  • Demise of Obamacare Repeal Shows How Far GOP Remains From Goal (BBG)
  • Republican’s Latest Tax Plan Has Little Room to Maneuver (WSJ)
  • Mexico in three-day countdown to search for earthquake survivors (Reuters)
  • Oil near 26-month high as Turkey threatens to choke Kurdish exports (Reuters)
  • North Korea bolsters defenses after flight by U.S. bombers as rhetoric escalates (Reuters)