Stock market close, Friday, July 18: The DJIA bounced back on Friday, up more than 100 points following Thursday's worst performance since early April. Geopolitical tensions remain high following the attack on a Malaysian jet airliner over Ukrainian skies yesterday morning, and Israel's tactical launch inside Gaza.
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On Friday morning, General Electric Co. (NYSE: GE) met Wall Street expectations when it reported second quarter earnings ahead of the bell, sending GE stock up more than 1% in pre-market trading.
After the markets got slammed yesterday (Thursday), falling 161 points on a number of fear-triggering global economic events, there are a handful of stocks to watch today in what could be another volatile performance.
While summertime Fridays are typically quiet for equities, today's schedule of market moving events is jam-packed. It's also coming off a day that included a plane crash, the announcement of ground military offensive from Israel, and a 40% move in the Volatility Index (VIX).
General Electric Co. (NYSE: GE) has been reducing the size of its GE Capital division, and the conglomerate just took another major step toward that goal.
The company announced today (Thursday) that it has filed an initial public offering (IPO) of its North American retail financing unit.
Last year, when I shared my five secrets for uncovering wealth-building tech stocks, I also told you about a sixth "rule" you can use to find the big-time profit opportunities that are flying under Wall Street's radar screen.
I refer to these as "special-situation" investments because they tend to be companies that are grappling with unique challenges. Because of those challenges, analysts tend to ignore these stocks.
And that's good for us.
General Electric Co. (NYSE: GE) will report earnings Friday morning, and analysts are projecting earnings per share of $0.53 on revenue of $40.2 billion.
The $0.53 EPS estimate is a 20% increase from General Electric's 2012 Q4 earnings. Likewise, the revenue estimate is 2% higher than the $39.3 billion revenue GE reported in the previous year.
Friday's momentum was halted as poor reports from around the globe surfaced today.
Unemployment in the Eurozone has reached a record high of 11.1%, the highest since the inception of the euro in 1999. In total the level of unemployment for the 27 countries in the European Union stayed at its May level of 10.3%.
On Sunday Spain dominated the final of the European Championship soccer tournament, beating Italy 4-0 - but that will do little to comfort the fact that Spain has the highest unemployment in the EU at 24.6%.