GEsus!

Tyler Durden's picture

Well that escalated really quickly...

GE is now down over 15% from its pre-open highs and down over 8% on the day (the biggest drop in over 8 years)...

Crashing below its Aug 2015 flash crash lows to its lowest since June 2012...

 

And here's what the analysts said... on Friday...

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SloMoe's picture

Whatever happened to Buffett's GE options from the financial crisis?

Hal n back's picture

amazing the Dow is still green-but then again GE is an 18 buck stock and HD and MCD are both over 150 so the latter weightings dismiss the GE selloff

 

 

Soul Glow's picture

Share price doesn't matter.  What matters is share price multiplied by total shares which equals market cap.  Market capital is what matters and GE is a yuge company.  Their total losses are roughly $13 billion for today.

How is the rest of the market holding up?  Well the PPT is buying all the bank stock of the banks holding GE.  It's a wash for the Fed et al because they're playing with house - taxpayer - money.

American Psycho's picture

Commence stock buy back.  Oh wait, that is only done at the ATH. 

GUS100CORRINA's picture

My response: See what happens when a company tells the truth!!!!

AMZN has flat to down earnings and stock goes to the moon.

GE needs to talk to the guys at AMZN to find out how to lie and make wallstreet say thankyou on their way to HELL!!

It is all about the SPIN and GE leadership lost the art of the SPIN!!!

eclectic syncretist's picture

Down 8%? I guess that's what they get for being a company that that actually manufactures products people can use, when everyone knows the real fiat is made in companies that manufacture nothing.

BlindMonkey's picture

You have just described the Seinfeld economy. 

GUS100CORRINA's picture

I am an OLD SCHOOL kind of GUY. Below are some metrics comparing AMZN and GE. It should be noted that AMZN does NOT have a dividend and GE does have a dividend. I will let you look at the numbers and compare. While GE is having some challenges, AMZN is OVERVALUED by a COUNTRY MILE. I will let the data speak for itself. These markets are broken!!!!!

AMZN Book/sh 51.26 P/B 21.95 EPS next Y 84.90% ROA 2.10%

GE___ Book/sh 8.78 P/B 2.33 EPS next Y 6.54% ROA 2.00%

AMZN Cash/sh 50.28 P/C 22.38 EPS next 5Y 58.00% ROE 8.70%

GE___ Cash/sh 4.6 P/C 4.45 EPS next 5Y 11.00% ROE 9.40%

AMZN Dividend - P/FCF 70.53 EPS past 5Y 29.00% ROI 7.10%

GE___ Dividend 0.96 P/FCF - EPS past 5Y -4.10% ROI 5.10%

AMZN Dividend % - Quick Ratio 0.7 Sales past 5Y 23.10% Gross Margin 36.50%

GE___ Dividend % 4.69% Quick Ratio - Sales past 5Y -3.30% Gross Margin 25.00%

AMZN Employees 341400 Current Ratio 1 Sales Q/Q 33.70% Oper. Margin 2.00%

GE___ Employees 295000 Current Ratio - Sales Q/Q 14.40% Oper. Margin 6.80%

AMZN Income 1.93B PEG 4.9 EPS next Q 1.85 Inst Own 62.10%

GE___ Income 7.58B PEG 2.17 EPS next Q 0.3 Inst Own 55.90%

AMZN Index S&P 500 P/E 284.04 EPS (ttm) 3.96 Insider Own 16.40%

GE___ Index DJIA S&P500 P/E 23.88 EPS (ttm) 0.86 Insider Own 0.10%

AMZN Market Cap 544.10B Forward P/E 140.99 EPS next Y 7.98 Insider Trans -1.29%

GE___ Market Cap 177.55B Forward P/E 17.96 EPS next Y 1.14 Insider Trans 4.07%

AMZN Optionable Yes Debt/Eq 0 EPS Q/Q -0.30% Profit Margin 1.20%

GE___ Optionable Yes Debt/Eq 1.79 EPS Q/Q -6.20% Profit Margin 5.70%

AMZN Sales 161.15B P/S 3.38 EPS this Y 292.10% Inst Trans -0.07%

GE___ Sales 123.78B P/S 1.43 EPS this Y 630.10% Inst Trans -0.65%

AMZN Shortable Yes LT Debt/Eq 1 Earnings Oct 26 AMC Payout 0.00%

GE___ Shortable Yes LT Debt/Eq 1.42 Earnings Oct 20 BMO Payout 117.20%

 

AGuy's picture

The answer is easy: GE should have called Gelco. They could have saved 15% in about 15 mins. Some lizard on TV told me so! /sarc

Sphira's picture

From the earlier ZH GE story:

Of the dozen or so firms that were first included in the Dow Jones Industrial Average over a century ago, GE is the only name from that group that remains today.

Then look at the chart at the very end -- the caption reads:

For the 3rd time in the last 50 years, The Dow is trading at 1000x the price of GE shares - it has not ended well for the market.

 Ihttp://www.zerohedge.com/news/2017-10-19/ge-options-are-pricing-massive-...

Could this be the best glaring indication yet of the expected and looming reset to come?

Honestly barrowing 6billion for GE's pension is another indicator of a very old company that may well emerge on the other side of midnight. I, for one, I'm thinking very carefully what this shows/means.

Making sense of the beast? Just can't get out of my mind that -

GE -is -- Edison's company, and Edison treated Tesla most egregiously! -- When he was employed by the Edison company.

 

 

 

2banana's picture

There is no magic negro in the White House with unlimited bailouts for "strategic" campaign donations and Clinton Foundation "gifts" anymore....

847328_3527's picture

Obama's boy Immelt from GE sent hundreds of thousands of jobs to China and Mexico. I know two execs who hated being transferred to mexico but they needed the jobs/money. They said it is hell there worried about kidnapping or being murdered 24/7.

Jim in MN's picture

The red market is green and the blue market is red....FANGs notwithstanding (so far).

Killuminati's picture

John Podesta is still looking for his hankercheif with pizza related map.... 

gmak's picture

You mean "That elevatored quickly".

east of eden's picture

GE was one of the first to go in the 2008/09 crash. Looks like it is leading the way again.

And no, just because it is GE doesn't mean that it will survive.

Hal n back's picture

when AMZN starts selling off.............

 

GE's low was 5.73 in march 2009-it really needed bank toxic accounting to pull it up.

Farmer Joe in Brooklyn's picture

Aside from questionable nuclear (aka, nucular) reactors, does GE actually still make anything..?

They morphed into a quasi-finance company a decade or so ago.

GE down big and Dow is somehow still positive (Dow only has 30 companies and is price-weighted). Must be a pretty good day for the other 29 companies.

Anyway, not holding my breath for a crash or any meaningful corrections. I lost my ability to get hard over these types of articles.

Central bank interventionism has given me doom porn erectile dysfunction.

billmill's picture

Largest maker of commercial turbofan engines in the world today. Over 26,000 CFM 56 engine alone. When fly to see your relatives next week it will most likley be  a GE turbofan that gets you there.

Cautiously Pessimistic's picture

Make fun of GE if you must, but just know this, they make one helluva nuclear reactor called the Mark 1.  A reactor that has stood the test of tim......   Oh, wait....nevermind.

847328_3527's picture

Those GE reactors at Fuki are some of their most noticeable achievements!

silverer's picture

I have some bad news for you. Those exact same reactors are used in the US.

dunce's picture

The reactors at fuki failed because of poor site engineerring by the Japanese not reactor design. The failure analysis is readily available.

Branded's picture

Let me guess; the crack team at TEPCO provided the report?

Furious_Storm's picture

OK, who forgot to pay the light bill again...it's financially killing us! 

khnum's picture

We all know what happens when Dow components dont behave,they get tossed from the index and are replaced

Hulk's picture

I never occurred to me that stocks could drop !!!

SillySalesmanQuestion's picture

Maybe GE finally had to pay income taxes, instead of getting, their annual “refund” from the gubbermint...

S/

FreeShitter's picture

Obama and Immelt took employee 401k and headed off to Maui,

vealparm's picture

What did they book?

A single King room or a Double Queen?

idontcare's picture

Wake me up when it gets close to 16.

FreeShitter's picture

Might be called Chinese Electric by then....

jmack's picture

time for a GE ICO.

E.F. Mutton's picture

GE - We Bring Good Things to Life...And sell the rights to China

Bill of Rights's picture

"No! No! No! Bear Stearns is fine. Do not take your money out. Bear sterns is not in trouble. If anything, they're more likely to be taken over. Don't move your money from Bear. That's just being silly. Don't be silly."

Ben A Drill's picture

What/When was the last time did you buy made by GE these days? I can't even remember the last time I bought anything Microsoft.

FreeShitter's picture

Bought a dishwasher 2 years ago, from GE so far so good. I have had good luck with GE appliances. I have had good luck with Ford trucks.....but thats what it is, luck.

InnVestuhrr's picture

I bought shares in GE gas turbine generators, working out very well.

bonin006's picture

I bought a floor lamp "made" by GE (they had their name on it). It was a piece of shit. Had 3 or 4 tubular sections that screwed together. The threads were cast pot metal that were so bad they couldn't be properly tightened. I have arms like Pee Wee Herman's, and the 1 1/4 inch diameter threads just jumped over and got loose again before getting solid, tightening them by hand.

It had a built in rotary ON/Off intensity control. The knob broke after a couple months, but it was still operable by turning the bare shaft of the potentiometer. Then about 6 months later the entire control stopped working. I pulled it out and bypassed it, making lamp ON/Off only. Then after about a year the drive circuitry for the lamp (a sort of serpentine fluorescent) started eating bulbs like crazy and I thew the piece of shit out.

This was maybe 10 years ago

Joe A's picture

Don't worry. Soon big war in ME and everything will be fine for GE again.

buzzsaw99's picture

do you see what happens larry?  [/walter]

FreeShitter's picture

Larry: You killed my wife, Owen!

Owen: No, I didn't... Yes, I did.

Larry: You're a sick man, Owen. You need care and I'm taking you to the police.

 

Throw Momma From the Train

buzzsaw99's picture

Luigi Pappalardo: You killed my momma!

Chuck Toedan: It was an accident.

Luigi Pappalardo: You killed my momma!

Chuck Toedan: I'm sure she didn't feel anything!

Luigi Pappalardo: You killed my momma!

Chuck Toedan: She was old, anyways!

[/deathrow gameshow]

Seasmoke's picture

GE is Imelting down.

InnVestuhrr's picture

Abrupt huge declines like this are frequent across the equity market and are the primary reason why I NEVER invest in equities.

FreeShitter's picture

This one was easy tho...immelt left so the buybacks stopped. pretty easy tbh.

newmacroman's picture

So, like, they don't bring dead cats back to life?

Still laughing over that one from many days ago, LOL.

Flounder's picture

If 4% div yld then maybe $12/sh

If $1 EPS then maybe $15/sh

Have Immelt's balls been cut off yet?

LawsofPhysics's picture

Reflecting true price discovery?

LMFAO!!!!

...yeah I couldn't keep a straight face either.

"Full Faith and Credit"