Happy Action Alerts Plus call day!
General Electric's Newest Guidance
Real Money's Stock of the Day General Electric (GE) - Get General Electric Company Report issued fresh 2019 earnings guidance Thursday that missed analysts' forecasts, while confirming it will burn as much as $2 billion in cash in its industrial division. CEO Larry Culp warned that the first quarter of this "reset" year will be the weakest for the troubled conglomerate, reported TheStreet's Martin Baccardax.
GE said it sees full-year 2019 earnings in the range of 50 to 60 cents per share, well shy of the Street consensus forecast of 70 cents a share. The group also said adjusted industrial free cash flow burn could reach $2 billion, but said that figure will turn positive by 2020.
"GE's challenges in 2019 are complex but clear. We are facing them head on as we execute on our strategic priorities to improve our financial position and strengthen our businesses," said CEO Larry Culp. "We have work to do in 2019, but we expect 2020 and 2021 performance to be significantly better with positive Industrial free cash flow as headwinds diminish and our operational improvements yield financial results."
"The safety of the American people, all people, is our paramount concern," Trump said in a statement from the White House. "Any plane currently in the air will go to its destination and thereafter be grounded until further notice. Planes that are in the air will be grounded upon landing at their destination. Pilots will be notified. Airlines have been notified and have agreed with us."
Facebook's Facing a Criminal Probe
Federal prosecutors are conducting a criminal probe into data deals Facebook (FB) - Get Meta Platforms Inc. Report struck with some of the world's largest technology companies, reported The New York Times.
A New York grand jury subpoenaed records from at least two prominent makers of smartphones and other devices, the Times reported, citing two people who were familiar with the requests. Both companies had entered into partnerships with Facebook, gaining broad access to the personal information of hundreds of millions of its users.
Tesla's Newest SUV
CEO Elon Musk tweeted on March 1 that the "Model Y, being an SUV, is about 10 percent bigger than Model 3, so will cost about 10 percent more & have slightly less range for same battery.
The Model Y reportedly won't have the "Falcon Wing" doors that are found on Tesla's bigger SUV, the Model X. Musk previously had hinted that it might.
Don't Underestimate Dell
The focus of Jim Cramer's column on Real Money Thursday morning was on Dell.
"I would say that people still don't understand what Dell does. It is becoming the hardware heart of the internet, with some software to make it all come together," he continued.
Want more exclusive tips from Jim Cramer? Lucky you, his next call kicks off March 14 at 11:30 E.T. Here's how you can watch.