Can we do about it plus four stocks to trade those global water fear approximates. We begin with shares of General Electric hitting sevenyear highs on the back of its latest earnings. The stock has not closed at 29 or above since yawing august of. Its slightly below that and moving higher, about 12 so far this year. Is all the restructuring working. Mary thompson breaks it down for us. A lot of investors are at least betting it will work. Ge in the midst of a massive restructuring and it delivered stronger than expected profits for the thirty quarter even as revenue missed estimates. The better than expected earnings helped by strength in the aviation and transport businesses and the news it plans to sell its majority stake in the Consumer Finance arm has helped to push shares to the highest level this is seven years. The exchange will lead to a 20 billion buyback, twothirds of the 30 billion in capital ge is returning to shareholders this year. 2015, of course, has been a transformati
And, folks, a key part of the estate tax, controversial tax to begin with, being almost totally ignored. Is the irs about to strike back . Well tell you about that one. We certainly will. We start with fed chair janet yellen getting grilled on capitol hill on regulating the banks and also her comments on the economy. Steve liesman, take it away with the highlights. Shes just finishing up testimony now, mandy, on the last question of the hearing that gab at 10 00 a. M. This morning that was supposed to be aboutbac banks but ended up mak news on monetary policy. Chair janet yellen told markets to wake up and get ready because december is a live possibility. What the committee has been expecting is that the economy will continue to grow at a pace thats sufficient to generate further improvements in the labor market and to return inflation to our 2 target over the medium term, and if the incoming information supports that expectation, then our statement indicates that december would be a l
We will hear from one asset manage who are says now is the time to buy into this beaten down industry. Where is the Broader Market heading as we wind down here. Were winding down the year . Its only october. Christmas is around the corner. Morgan stanleys adam parker and David Rosenberg will weigh in with their view of what happens as we make our way through the Fourth Quarter. Uber seek to go raise another billion dollars and you wont believe how much that could put the company in terms of valuation. Details coming up. Lets get to our Closing Bell Exchange with the dow down 30 points and we have had some Economic Data out this morning, a lot of cross winds in the earnings arena as well. Anthony chan from chase is with us here at post 9, so is Kenny Polcari and our own Rick Santelli joins us. Here we are again not a lot going on for the major averages. There are certain individual stock stories certainly but overall the market just me and rings here. Its meandering today but it wasnt l
Dont even bother to ask questions later because theyve gotten things so wrong. This market is littered with those kinds of mistakes, including today. Nasdaq gained. 38 . When i first got into this business there wasnt a rush for reporters to report the consensus estimates created by wall street analysts. These days they see if the sales and earnings are better or worse than expected. Once theyve compared and contrasted, they pull some reason, some folderol from the release, to explain it, then boom, rapid fire posting, dont look back, on to the next company. We see this sort of thing this years. This week, there was four of them that were like this this year. It creates such a rush to judgment with so little time to breathe hthat people end up losing fortunes, trading off these slipshod bulletins that purport to say what really happened in the quarter, like you could really figure it out in 140 characters. Hasbro reported today. The vast majority of these Companies Said it was a good b
Additional support has been provided by and by the corporation for public broadcasting, and by contributions to your pbs station from viewers like you. Thank you. From the tisch wnet studios at Lincoln Center in new york, Hari Sreenivasan. Brangham good evening and thanks for joining us. Im william brangham, Hari Sreenivasan is on assignment. Hurricane patricia has toppled trees and battered buildings, but has caused much less damage than expected. The storm, which briefly rated as the strongest hurricane on record in the western hemisphere, with 200mph winds while over the pacific ocean, has been downgraded to a tropical depression with winds of only 35mph. Patricia weakened as it made landfall on Mexicos Pacific coast last night and largely spared the cities in its path, including guadalajara and the seaside resort of puerto vallarta. Thousands of residents and tourists had fled inland. Heavy rains have caused flooding but there are no reports of fatalities. The remnants of patricia