- General Electric (NYSE:GE) -2.2% premarket after JPMorgan cut its PT on the conglomerate - to $10 from $11 - saying a key gas turbine launch spells more trouble for the firm's power division.
- Checks on two initial U.S. installations revealed failures of the first stage blade of GE's H-frame gas turbine, according to longtime bear Stephen Tusa, who lowered his 2019 EPS to $0.75/share from $0.80, and to $0.82/share from $0.92 in 2020.
- The impact on "asset value" represents a negative development for a company that has little wiggle room for more "shoes to drop."