The company blamed its Q2 content slate and price increases for the subscriber miss.Technologyread more
Corporate earnings forecasts for the second quarter were lowered so much that companies are easily beating them.Market Insiderread more
The central bank is not normally in the business of easing into an economy that is showing few signs of a recession, generally holding fire until more pronounced signs of a...The Fedread more
IBM's year-over-year revenue has now declined for four quarters in a row. Impact from Red Hat is not yet factored into the company's guidance.Technologyread more
Netflix can sustain its lofty valuation only if global subscriber growth can support increasing content spending and debt. And growth is entirely dependent on Netflix's...Technologyread more
Prosecutors in Masschusetts have dropped a criminal case against actor Kevin Spacey, who had been accused of groping an 18-year-old man.Entertainmentread more
Yes, Netflix is losing "The Office" and "Friends" in the next two years. But that may not be a bad thing for the streaming company.Entertainmentread more
Challenging conditions in the U.S. housing market, along with tighter currency controls by the Chinese government, cause a stunning drop in foreign demand for American homes.Real Estateread more
Trade negotiations between the world's two largest economies are stuck at a standstill, the Wall Street Journal reported Wednesday.Marketsread more
House Speaker Nancy Pelosi says she wants her chamber to vote on a debt ceiling and budget deal by July 26.Politicsread more
Philips has acquired a start-up that texts you about your poop. That's Medumo, a Boston-based company, which works with hospitals to guide their patients through common...Technologyread more
Shares of General Electric hit their lowest level since December 2011 on Thursday, briefly breaking below $17.
The Dow component closed at $16.77, a six-year low, down 3.3 percent. The move lower follows a 4.7 percent decline on Wednesday and a 2.8 percent drop Tuesday. For the week, GE shares are down 9 percent.
The latest sell-off began when the company announced disappointing results Tuesday after a review of its GE Capital insurance portfolio. GE will take a $6.2 billion after-tax charge for the fourth quarter of 2017, and the company expects to contribute $15 billion over the next seven years to shore up the portfolio's reserves.
CEO John Flannery said the company's "underlying strengths and value" are being "suppressed" in its current structure.
"As a result, we are looking aggressively at the best structure or structures for our portfolio to maximize the potential of our businesses, continue to deliver outstanding products and services to our customers, enhance our ability to provide attractive opportunities for our employees, while maximizing value for our shareholders," Flannery said.
But the potential breakup of the company has investors reflecting on what the individual pieces are worth.
J.P. Morgan analysts said in a note Wednesday that it is becomingly increasingly difficult to justify the firm's $16 price target on the stock. "This to us is not about offensive value creation and more an acknowledgement that the problems preclude the company from moving forward as previously planned, even a few months ago," J.P. Morgan wrote.
General Electric, one of the biggest conglomerates in the U.S., has seen its stock tank 45 percent in the past year.
— CNBC's Michael Sheetz contributed to this report.