Offal industrial conglomerate said the changes on the same call he apologized for the companys performance. So far this year shares of this widely owned stock are down 40 . Today after announcing ges turnaround strategy, the stock lost 7 of its value on very heavy volume. The worst day since 2009. Morgan brennan takes a look at the road ahe cut dividend, cut guidance, cut assets, those cuts are the crux of general electrics new strategy under sdwraun flannery. Today flannery outlined big changes for the struggling industrial giant. Going forward, we really have to focus on how we can create the most value of portfolio of assets we have for the owners, and well do that with a very dispassionate eye. Reporter ges dividend was cut today, reduced by half, as the new ceo looks to drum up cash and remake the company. Ge has long been bought for the payout, with about 40 of shareholders retail investors, many dependent on the income. Still the move was widely expected. What wasnt was the guid
Happy new year. Happy new year to you, too. What do you make of what the stock market has done since election day . Look, i think a lot of it is its all positive because people think youre going of have positive gdp growth, less regulation. And i think if you have this 2 to 3 or 4 to 5 growth thats good for equities. Equities this year will be up 10 . Were calling it the trump rally. Is it fair to call it that . I think its you can call it whatever you want. To me its definitely a rally and the rally is because all the numbers coming out are all positive. Right . So everybody is seeing that theres going to be more positive there. And i think a lot of it is for businesses, the less regulation there is the better it ends up being. Its so interesting just given your place within the clinton calm pampaign, youre c to the clintons. Yeah. You wanted her to win, he won. Are you surprised the stock market has reacted the way it has . A little bit. And i think part of it is just as the numbers
Clara county services will remain shut down because of a power outage. The county building handles everything from issuing permits to birth certificates. It should reopen monday. Republicans are vowing to de fund planned parenthood. House Speaker Paul Ryan says cutting federal funding for the Womens Health services would be included in the gop effort to repeal the Affordable Care act. The move is opposed by most democrats. You are watching ktvu fox 2 news at 6 30. In chicago four people have now been charged with hate crimes in connection with an attack on a mentally disabled man that was broadcast live on facebook live. Police say the victim was a classmate of one of the alleged attackers. Matt fin tells us president obama is among those calling this crime despicable and sickening. Reporter the captors seen in this terrifying torture video beating a handicapped man now behind bars. These four suspects charged with a list of felonies including the most serious, hate crime and aggravate
Up the street. Investigators have been here all afternoon. What we know is multiple shots were fired around noon here. One bullet struck a 22month old girl who was in a car with her mother. The mother sped off to the hospital. Were told the girl is expected to survive fortunately. We are looking in to see what led up to the shooting, what was the motive for the shooting, was there any type of exchange of gunfire. We do not know that at this time. We dont know exactly what the circumstances are that led up to this shooting. I heard m shots and then what sounded like screams, and i kim to this window to see if i saw anything. Didnt see a thing. I just heard a car take off. Reporter now, besides the mother, it is unclear exactly who was in the car and if an adult in the car was the intended target or the shooter was firing at swinls and hit the car and child unintention ea. Police say theyre looking at whether todays violence is connect to the shooting death of a man in west oakland yeste
Everybody was bushwhacked on this thing. There were targets as high as 90 a share. I was one of those watching the stock very, very closely. I love the Growth Strategy they have had out there. They got china up to five stores. If you look at the mens, theyre doing actually very well. This quarter was a good quarter. The problem, every part of the problem was the guidance. They knew some of the traffic numbers were down, they still had margins, but it was the guidance and a little going into the whole internet world, the ecommerce, not great. It wasnt awful, it just wasnt great. Thats a problem. How do you see this . The stock is down 22 plus percent. Well, i do i dont typically believe stuff like this, that we didnt have the right colors. If you go to a lulu store, whos going to pay that for this kind of stuff . Theyre no more expensive than nike or under armour and the quality i believe is much better. If you go to the stores its basically monotone, blacks and grays. They havent moved