Diamonds and Dogs
General Electric (GE) is flexing its muscle up 3% following better than expected earnings. GE beat by 5 cents as revenues rose 6.6% to $28.66 billion. The company also reiterated guidance for the full year. GE continues to reduce expenses to maintain and improve free cash flow of $6-7 billion while also looking to divestiture $20 billion in assets. Not all investors and analysts are convinced the worst is over. The analyst at JP Morgan remains skeptical with a price target of $10 to $11 a share.
Skechers (SKX) taking a hit following earnings. The shoe maker is down 27% to a six month low after guiding second quarter earnings and sales below consensus. Skechers said the outlook includes a likely shift in shipments from the second quarter to the latter half of the year for a handful of key accounts in the U.S. and international distributors. One analyst said the previous operational missteps coupled with lack of full-year guidance are the root cause for investors stepping away from the stock.