Here is the article.
Why General Electric Stock Just Popped 7.5%
Shares of industrials giant General Electric (NYSE:GE) are hopping in afternoon trading Wednesday, up 7.5% as of 1:10 p.m. EDT as GE CEO Larry Culp expounds on the company's plans at a Morgan Stanley investor event currently in progress.
What's driving GE shares higher? TheFly.com is giving minute-by-minute updates on the CEO's comments. Among the encouraging news:
- GE's recent second quarter -- the results from which were not great -- is likely to have been the "toughest period" GE will experience this year.
- GE burned through $3 billion in negative free cash flow in the first half of this year, according to data from S&P Global Market Intelligence. However, this year's second half should show improvement, with cash flow (if not free cash flow) at least turning positive. (Cash flow alone was negative $1.4 billion in the first half, with the remainder of the cash burn accounted for by capital investments.)
- And GE expects to have momentum on its side as it emerges from 2020 into 2021.
Actionable Items
If I know the news that GE stock will go up, I can purchase $15,000 US dollars and put a trailing limit order to catch gains over 5% in one day. I have to learn how to follow the news, and read update from GE once a while.
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