General Electric Beats Earnings and Revenue Expectations

General Electric ( (GE) - Get Report ) says both earnings and revenue came in ahead of expectations in the quarter. It also said it expects revenue to gain 2-4% this year. GE shares have gained 23% in the past 12 months as it transitions away from financials and into industrials. Food companies could struggle today. Both Chipotle ( (CMG) - Get Report ) and Starbucks ( (SBUX) - Get Report ) saw sales fall short. Chipotle has yet to recover from the foodborne illness outbreak last year. Starbucks says it experienced European weakness and its new loyalty program, which rewards dollars spent rather than number of visits, hurt customer traffic. Donald Trump officially accepted the Republication nomination for President in the longest acceptance speech of any candidate ever. In it, he promised to cut taxes and reduce the national debt to help spur the economy.