Jim Cramer has some thoughts on General Electric and Boeing after earnings and an update on the coronavirus.
Let's Talk About the Coronavirus
Chinese Health Officials say that the death toll has risen to 132, and there are now nearly 6,000 confirmed cases.
The number of confirmed cases has surpassed the number of infections from the SARS outbreak in 2003.
The White House also says that it may suspend all China-U.S. flights amid the coronavirus outbreak.
United Airlines announced Tuesday that it was suspending some flights to China. And British Airways is canceling direct flights to and from China.
But, should investors be more worried about the flu?
According to the CDC, there have been over 15 million flu illnesses, over 140,000 hospitalizations and a shocking 8,200 deaths in the U.S.
So, should there be more of a reaction to the coronavirus or is it not as bad as feared?
Boeing (BA) - Get Report recorded a loss for the three months ending in December of $2.33 per share, and the first annual net loss since 1997, as revenues plunged 39.7% from last year to $17.11 billion, a figure that still missed analysts' forecasts of a $21.67 billion tally.
Boeing said MAX-related delay and grounding costs increased by $2.6 billion over the quarter, and just over $18. billion in total, while cash flow was measured at a negative $2.22 billion over the final three months of the year.
And yet, Boeing shares were up premarket. So are investors taking advantage of the earnings?
And Then There's General Electric
GE said adjusted non-GAAP earnings for the three months ending in December came in at 21 cents per share, up 23.5% from the same period last year and 3 cents ahead of analysts forecasts. Revenues came in at $26.2 billion, topping analysts' estimates of a $25.6 billion tally.
Is now the time to call GE a turnaround story?