This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

General Electric Looks to Break From Financials

FAIRFIELD, Conn. ( TheStreet) -- General Electric's (GE - Get Report) stock price is looking to make another run similar to one it had prior to the company's third quarter earnings report Oct. 16.

General Electric's stock price was positive Tuesday even as most big financials, including Citigroup (C - Get Report), Bank of America (BAC - Get Report), Wells Fargo (WFC - Get Report) and AIG (AIG - Get Report) were all lower. General Electric's stock price is up slightly during the past five trading days through Tuesday, while the S&P 500 is down over that time.

Industrial stocks, with which General Electric would like to be compared, were more mixed Tuesday, with Honeywell (HON) and ITT (ITT) trading higher while other industrial, including Caterpillar (CAT - Get Report) and United Technologies (UTX) were lower.

While General Electric's volumes were lower Tuesday than their three-month trailing average, that is to be expected during a holiday-shortened week. Still, more than 80,000 General Electric shares traded Tuesday, or about 80% of the three-month trailing average of 100,000 shares. By contrast, the 192,000 Citigroup shares that traded were less than half the trailing three-month average of 590,000 shares.
Stockpickr: Who Owns GE?

The positive sentiment Tuesday may have been driven by options activity. CNBC noted a massive purchase of General Electric call options that won't pay off unless General Electric's stock price hits $23.25 by January 2011 -- 44% higher than where it closed Tuesday.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AIG $64.12 0.00%
BAC $17.88 0.00%
C $58.46 0.00%
CAT $78.63 0.00%
CMCSA $62.41 0.00%

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs