Diamonds and Dogs
General Electric (GE) higher on an upgrade. GE is up 3% near recent highs as Morgan Stanley turned bullish on the stock with a new price target of $14 a share. The analyst sees nearly 30% upside citing a "budding turnaround" in fundamentals and reduced risk regarding from long-term liabilities. The analyst also believes GE's aviation unit is best-in-class and the disruption from the 737 Max as temporary. That would be good news for Boeing as well.
Cord-cutting and Cats hurt Comcast (CMCSA). The entertainment provider is down 3% following earnings. Comcast actually beat estimates as sales rose 2% to $28.4 billion, but investors hit the sell button on news the company lost 149,000 video subscribers in the quarter while the filming division saw sales fall 21% to $1.6 billion while profits dropped a brutal 49% to $91 million due in large part to the movie Cats bombing at the box office.
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