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    Markets Today
    There was bad news everywhere you looked today and investors voted with their money, sending all markets and sectors lower. Even the Nasdaq traded lower, as the giant tech stocks couldn't manage gains for the first day in six. Selling accelerated into the close, which is never a good sign.

    China's producer prices sank in April, sending an ominous sign about its economic recovery, which allegedly began last month. U.S. consumer prices fell 0.8% in April, the second month in a row and the biggest drop since 2008.

    Boeing CEO David Calhoun told a national television audience this morning that a major U.S. airline is likely to fall this year. That's no way to talk about your customers, and airline stocks shrank across the board.

    Dr. Anthony Fauci, the nation's leading epidemiologist and the Trump Administration's face of the health crisis, testified to Congress today that lifting social distancing guidelines too soon would cause another outbreak, more senseless deaths, and a further setback to the economy. Almost on cue, California said it would be extending restrictions for the next three months, at least.

    That hurts, and outside of the markets in small business land, that's going to hurt minority, female, and veterans' businesses the most. Many may not make it, according to a recent survey by the Minneapolis Fed.

    Alternate text
    Headlines:
    • Democrats in the House of Representatives released their latest stimulus bill Tuesday. Party leaders expect to vote on the more-than-1,800-page package on Friday, along with a plan to allow proxy voting on legislation during the crisis. Here's a quick summary of what's in it:
      • Nearly $1 trillion in relief for state and local governments, a second round of direct payments of $1,200 per person, and up to $6,000 for a household
      • About $200 billion for hazard pay for essential workers who face heightened health risks during the crisis
      • $75 billion for coronavirus testing and contact tracing—a key effort to restart businesses
      • An extension of the $600 per week federal unemployment insurance benefit through January (the provision approved in March is set to expire after July)
      • $175 billion in rent, mortgage, and utility assistance
      • Subsidies and a special Affordable Care Act enrollment period to people who lose their employer-sponsored health coverage
      • Relief for the U.S. Postal Service
    • The U.S. Treasury reported a record $738 billion budget deficit in April, as an explosion in government spending and a shrinking of revenues amid the novel coronavirus pandemic put it deeply into the red. The Treasury Department said the budget deficit last month was the first to reflect the enormity of government spending that has been authorized to try to mitigate the economic impact of the crisis.
    • China's producer price index (PPI) fell 3.1% year-over-year in April, according to the National Bureau of Statistics. This is its sharpest decline in four years, and it follows a 1.5% drop in March. The pace of falling producer prices is worse than analysts expected and was driven by a slump in global crude oil and commodities prices.
    • Uber has made an offer to buy food delivery company Grubhub, according to CNBC. The two companies have had discussions about an all-stock deal that would offer Grubhub shareholders 2.15 Uber shares for each Grubhub share. Shares of Grubhub (GRUB) soared 36% on the day.
    • Saudi Aramco's first quarter net income slid 25% year-over-year to $16.6 billion and was below expectations. It cited the impact of the pandemic on global crude oil demand and prices, as well as declining refining and chemicals margins and inventory re-measurement losses. Production was 9.8 mmbpd. Dividends of $13.4 billion were paid in the first quarter, and $18.75 billion will be paid in the second quarter.
    • Simon Property Group, the biggest mall owner in the U.S., says 50% of its locations will be reopened this week. The REIT giant has already reopened 77 of its U.S. retail properties and twelve of its designer and international premium outlets properties where local and state orders have been lifted and retail restrictions have been eased.
    • Biotech company Novavax's (NVAX) stock is skyrocketing 62% today. Yesterday it announced the Coalition for Epidemic Preparedness Innovations (CEPI) will invest $384 million more to advance clinical development of its COVID-19 vaccine candidate, NVX‑CoV2373. Recruiting for the Phase 1 trial began this month with preliminary immunogenicity and safety results expected in July.
    • Coffee chain Tim Hortons, the only thing Canadians will fight you on, has received funding from Chinese tech giant Tencent. The amount was not revealed, but the money will be used to build 1,450 more stores in China and upgrade digital infrastructure.
    • PNC Financial Services intends to sells its 22% stake (35 million shares) in BlackRock. BlackRock has announced a secondary offering of the common stock and that it will repurchase $1.1 billion of common stock directly from PNC. Shares of BlackRock (BLK) fell 7% on the day.
    • Toyota (TM), one of the world's largest automakers, predicts its operating profit will fall 80% this fiscal year, which began in April. Net revenues declined 1% and global vehicle sales declined by 18,372 in the 2020 fiscal year. Shares in the company closed almost 2% lower in Japan.
 
So I got an alert about GE(General Electric) taking a beating today.. on track to be at its lowest in like 29 years. Likely to be related to a major airline possibly/probably to be going out of business this year and GE apparently is one of the largest jet engine makers(GE Aviation).

what yall think @DOS_patos @Sion @AZTG
 
Inori said:
So I got an alert about GE(General Electric) taking a beating today.. on track to be at its lowest in like 29 years. Likely to be related to a major airline possibly/probably to be going out of business this year and GE apparently is one of the largest jet engine makers(GE Aviation).

what yall think @DOS_patos @Sion @AZTG
Click to expand...

Should we get in on that?
 
Inori said:
So I got an alert about GE(General Electric) taking a beating today.. on track to be at its lowest in like 29 years. Likely to be related to a major airline possibly/probably to be going out of business this year and GE apparently is one of the largest jet engine makers(GE Aviation).

what yall think @DOS_patos @Sion @AZTG
Click to expand...
let me read up on it.

i think someone asked about it a few pages back.
 
Inori said:
So I got an alert about GE(General Electric) taking a beating today.. on track to be at its lowest in like 29 years. Likely to be related to a major airline possibly/probably to be going out of business this year and GE apparently is one of the largest jet engine makers(GE Aviation).

what yall think @DOS_patos @Sion @AZTG
Click to expand...
lol....you got the marketwtch alert?


lmao

i am happy to see you saw what holds it up....you are making progress.

but let me put this back on you......before i give my answer.


what are you thinking about GE?..
 
DOS_patos said:
lol....you got the marketwtch alert?


lmao

i am happy to see you saw what holds it up....you are making progress.

but let me put this back on you......before i give my answer.


what are you thinking about GE?..
Click to expand...

lmao yeah I sure did. Downloaded the app yesterday based off of your recommendation and that headline particularly stood out to me.

Read the article... shit it was news to me that they were even involved in aviation/jet engines.. learned something new today lol.

How I feel about it... I mean... even if a major airline goes out of business this year which wouldn't be surprising at all... folks still gotta move around and take flights so that part of their business will eventually recover.

My main question at the moment is what are their plans for stuff outside of jet engines/gas turbines/oil/fossil fuel stuff... do they have a plan or are they making moves for the inevitable turn towards renewable energy.

Folks always gonna need to take flights so I feel like they will recover.. more research is needed tho. Plus.. it's GE.. folks still trust their name/brand for appliances n shit don't they? lol
 
Inori said:
lmao yeah I sure did. Downloaded the app yesterday based off of your recommendation and that headline particularly stood out to me.

Read the article... shit it was news to me that they were even involved in aviation/jet engines.. learned something new today lol.

How I feel about it... I mean... even if a major airline goes out of business this year which wouldn't be surprising at all... folks still gotta move around and take flights so that part of their business will eventually recover.

My main question at the moment is what are their plans for stuff outside of jet engines/gas turbines/oil/fossil fuel stuff... do they have a plan or are they making moves for the inevitable turn towards renewable energy.

Folks always gonna need to take flights so I feel like they will recover.. more research is needed tho. Plus.. it's GE.. folks still trust their name/brand for appliances n shit don't they? lol
Click to expand...

What app you downloaded?
 
Inori said:
lmao yeah I sure did. Downloaded the app yesterday based off of your recommendation and that headline particularly stood out to me.

Read the article... shit it was news to me that they were even involved in aviation/jet engines.. learned something new today lol.

How I feel about it... I mean... even if a major airline goes out of business this year which wouldn't be surprising at all... folks still gotta move around and take flights so that part of their business will eventually recover.

My main question at the moment is what are their plans for stuff outside of jet engines/gas turbines/oil/fossil fuel stuff... do they have a plan or are they making moves for the inevitable turn towards renewable energy.

Folks always gonna need to take flights so I feel like they will recover.. more research is needed tho. Plus.. it's GE.. folks still trust their name/brand for appliances n shit don't they? lol
Click to expand...
this is what im talking about........yeeeeeahhh

revenuesandprofits.com

How GE Makes Money? Understanding GE Business Model - Revenues & Profits

General Electric Company (GE) revenues from products and services ranging from aircraft engines, power generation and oil and gas production.
revenuesandprofits.com revenuesandprofits.com

www.fool.com

General Electric Company (GE) Q1 2020 Earnings Call Transcript | The Motley Fool

GE earnings call for the period ending March 31, 2020.
www.fool.com www.fool.com
 
Sion said:
GE has been hurt for quite some time even prior to COVID lockdowns. Airlines are gonna get a whole lot uglier and anything related to or that does business with automation or automobiles is gonna be slowed down. Other segments of GE are gonna get slaughtered such as their consumer staples businesses, GE Capital and more.

Currently GE has more cash than it is worth and could take itself private tomorrow if it wanted to. The balance sheet I have to look at more carefully because they have significantly scaled the business down. GE could actually be worth a lot more than it's currently selling for. I think due to its history and significance to the American economy it would be bailed out.

Crazy the last time I bought into GE was back in 2008/2009 and I was buying at like $6 and $11 a share. I made a killing. I would thoroughly read their annual report just to be on the safe side. Personally I would wait until I read the annual report before I invested in it. I know them inside and out.
Click to expand...
:foh5:
 
I find it amazing how folks trade on stuff like this by the way. To see some news like that and NOT be all the way familiar with all the particulars and try to get caught up in time before deciding whether or not to cop since everything is so fast moving... lol crazy shit.

I plan on doing my due diligence tho
 
this aint related really... but yall think airlines might reconfigure the planes to start spacing the airplane seats out more now instead of cramming everyone in to make more bread? Some flights are only letting flight capacity get to maybe 60% to ensure they can have social distancing on the flight..

LOL just a random thought.
 
Inori said:
this aint related really... but yall think airlines might reconfigure the planes to start spacing the airplane seats out more now instead of cramming everyone in to make more bread? Some flights are only letting flight capacity get to maybe 60% to ensure they can have social distancing on the flight..

LOL just a random thought.
Click to expand...
nope.....but i know they are already thinking of selling you the middle seat to space out.

and it has been full flights already in the states.

maybe after them lawsuits come in
 
DOS_patos said:
nope.....but i know they are already thinking of selling you the middle seat to space out.

and it has been full flights already in the states.

maybe after them lawsuits come in
Click to expand...

True... plenty other businesses are adjusting and reconfiguring to make shit safe tho... it SHOULD happen.. whether or not it does is another conversation I suppose
 
www.forbes.com

So Much For United Airlines’ Pledge To Block The Middle Seat

PSA: Social distancing is not possible on a full flight.
www.forbes.com www.forbes.com

edition.cnn.com

Frontier Airlines won't charge passengers to keep the middle seat empty following backlash from lawmakers

Frontier Airlines abandoned plans to charge customers to keep middle seats open on flights following criticism from lawmakers that the airline was profiting from the coronavirus pandemic.
edition.cnn.com edition.cnn.com

 
@Inori


I personally wouldnt fuck with GE. I read a few months back that their accounting has been real shady over the last few years. @Sion already hit on some of the shit that makes no sense. Im pretty sure KPMG is already auditing them and shit could get real ugly for them mfers.
 
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