Market, at least court to one of the biggest bulls on wall street Jonath Jonathan golub. Ge announcing a turnaround, but it fell 7 , hitting the lowest level in five years on very heavy volume. Morgan brennan was at the investor day in northern she joins us with all the highlights. That is right. It would been expected. The updated guidance is what was largely to blame a new e. P. S. Target, 1 to 1. 07 per share. By flarchry did say 2018 will be a recent year, and he expects both earnings and cash flow to grow after that. His vision is simpler company. One focused on three core businesses including transportation, and lighting, and ges majority stake in baker hughes. New methodology will also now be used for quarterly reports a lot on top, but at theyre now down heres why ge matters to you at home. Chass are you probably own it in some force or fashion. I go to a man who has already bought tim . We have priced by some of the core businesses. My view is the power assets are priced at ar
Turn to emma chandra. Donald trumpla, and philippines leader Rodrigo Duterte have bonded over their like of warmer president obama. Dutertescording to spokesperson. Trump said he had a great relationship with duterte. In alabama, allegations of sexual in propriety appeared to have an impact on Republican Senate candidate roy moore. For the first time, he has fallen behind in polling for next months special election. Jonestrails democrat doug 46 to 42. A deadly earthquake has struck the iraniraq border region. The quake had a magnitude of 7. 3. It is a rural, mountainous area where people rely on farming to make a living. Global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. Im emma chandra. This is bloomberg. David trump is winding up his asia tour, with much talk on the president about fair and reciprocal trade. How did china and other countries he visited respond . Our whitespond is house correspondent. Where do we end up in the en
The shanghai up by half a percentage point in europe in some of the early trading right now we are seeing things a little bit mixed across the board. Ftses hanging in there up by. 10 of a percent. They are seeing pull backs by the dax down and the cac off by 1 3 of a percentage oint. Crude oil prices on a climb again last week where oil was up by just over 1. 10 this morning wti back 1 cent i take that back, its unchanged at 56. 74 lets tell you whats going on couple stories were watching this morning couple big ones. General electric is going to announce a major restructuring is going to happen today ge will focus on three or four units, aviation, power, health care ge is planning to shed its majority stake in oil and gas operator baker hughes. Remember that big bet that shedding . Shedding. Shedding. Like skin. John flannery expected to announce the changes at a meeting. Theyre getting out of it he got into it, now hes getting out of it. You build it up and you take it down were goin
A profit from seemingly incompatible industries but thats all changed so its going to shrink operations down to three profitable core businesses aviation power and health care practically Everything Else will be sold off to the tune of twenty billion dollars and flannery is also slashing the dividend only the second time its done so since one thousand thirty eight the eighth biggest dividend cut in its history will help g. E. Avoid a cash crunch. Its of course a big topic and we want to discuss it with our financial correspondent on wall street sophie she mounts the sophie hi good to see you youre at the New York Stock Exchange where weve seen these reactions eight percent thats actually a very big loss is it that investors are really not betting on g. E. s future. Yeah well that is quite a strong reaction i mean the company is one hundred twenty five years old has a quite diversified portfolio if not fragmented so focusing and streamlining doesnt sound bad in order to restructure a hu
Has long managed to turn a profit from seemingly incompatible industries but thats all changed so its going to shrink operations down to three profitable core businesses aviation power and health care practically Everything Else will be sold off to the tune of twenty billion dollars and flannery is also slashing the dividend only the second time its done so since one thousand thirty eight the eighth biggest dividend cut in its history will help g. E. Avoid a cash crunch. Its of course a big topic and we want to discuss it with our financial correspondent on wall street sophie she mounts the sophie hi good to see you youre at the New York Stock Exchange where weve seen these reactions eight percent thats actually a very big loss is it that investors are really not betting on g. E. s future. Yeah well that is quite a strong reaction i mean the company is one hundred twenty five years old has a quite diversified portfolio if not fragmented so focusing in streamlining doesnt sound bad in o