General Electric responded to questions about the company's financial situation raised by J. P. Morgan analyst Stephen Tusa on Friday.
GE said it "is a fundamentally strong company with a sound liquidity position. We are taking aggressive action to strengthen our balance sheet through accelerated deleveraging and position our businesses for success."
Shares of GE plunged 8.4 percent in morning trading, dropping below $9 a share for the first time since the financial crisis.
Tusa said GE's third quarter earnings report was worse than expected "on almost all fronts," saying that the company's liquidity issues are "certainly debatable, we believe this is not really about liquidity, it's about a deterioration in run rate fundamentals."
from Top News & Analysis https://ift.tt/2qBPdzF
No comments:
Post a Comment