A trading week that was looking like a winning one for those long equities ended on a very sour note, with all of the previous three days’ gains retraced in the first few hours of today’s bearish session.
General Electric, a diversified industrial conglomerate that is in the process of selling off its financial businesses, has reported results for the first quarter of 2015. Earnings met our forecast, while revenues were a bit below the mark. Initially, GE shares traded off in the premarket, then were up around 1% at the market open.
Credit card issuer and Dow-30 component American Express (AXP) has delivered healthy first-quarter earnings, but the stock slipped on the news.