General Electric: It Hurts So Good
- General Electric reported Q3 2018 results that were not well-received by the market (the understatement of the year, I know).
- The company made the right decision to pretty much eliminate its dividend (i.e., it hurts so good), but the risk level keeps ticking higher for this industrial conglomerate.
- As such, I plan to hold onto my position in General Electric, but I would avoid putting new capital to work in this industrial conglomerate.
On October 30, 2018, General Electric ($GE) reported its widely anticipated Q3 2018 financial results, which were not well-received by the market.
The stock is currently trading close to single digits and some pundits are still calling for further downward pressure for GE shares. As I described in "Thoughts On GE Heading Into Judgment Day", I wanted to hear from GE's new CEO, Mr. Larry Culp, about several key themes (the Power struggles, SEC investigations, and how well the 'other' businesses are performing), which are items that I will touch on in this article, but, first, I will cover the news that is getting all of the attention - that is, the shrinking dividend.
Read more here.