An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
Shares of defense companies rose on Monday after the United States military was put on alert by President Donald Trump.Marketsread more
Stocks fell on Monday amid fears that a surge in oil prices following an attack in Saudi Arabia could slow down global economic growth.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
A new research study by the Digital Citizens Alliance shows how easy it is to buy illegal steroids or appearance and performance enhancing drugs (APEDs)Cybersecurityread more
An attack on Saudi Aramco's key oil facility raises questions about whether the schedule for the company's initial public stock offering will go ahead as planned.Energyread more
President Donald Trump signaled Iran is not telling the truth about the drone attacks on Saudi Arabia's largest oil facilities.Oilread more
U.S. Secretary of Energy Rick Perry spoke to CNBC's "Squawk on the Street" on Monday following a series of drone attacks on Saudi Arabia's oil facilities caused the largest...Oilread more
Perry says it's too soon to say whether the U.S. will need to use its emergency crude reserves to offset the surge in oil prices.Oilread more
Consumers in the U.S. prefer Apple's more expensive models, while the standard iPhone 11 appears to be more attractive to buyers in China, according to analyst Ming-Chi Kuo.Technologyread more
The Times updated an article detailing a previously unreported accusation against Supreme Court Justice Kavanaugh from when he was a Yale University student, noting that "the...Politicsread more
J.P. Morgan slashed its price target from $14 to $11, the lowest GE price forecast out of the 16 research shops that cover the company, according to FactSet. The industrial company already cut its dividend in half in November 2017. It currently has a 3.2 percent dividend yield.
"We still see structural concerns in the key Power markets, minimal margin for error on leverage," analyst Stephen Tusa wrote in a note to clients Tuesday. "On the dividend, we have heard some espouse the 3% yield that is above the sector average. The issue is that while it's not necessarily cut near term, it is not growing, and at a ~95% payout on post divestiture FCF it's still high risk."
The company's shares fell 4.4 percent Tuesday after the J.P. Morgan report. GE shares have significantly underperformed the market. The stock has declined 49 percent in the past 12 months through Monday versus the S&P 500's 17 percent return.
J.P. Morgan also reaffirmed its underweight rating on GE, citing the fundamental problems in its power business.
Tusa said management's guidance for about $1 in earnings per share this year is not "credible" because it doesn't include restructuring costs.
The analyst also downplayed the impact from any potential asset sales by the company.
"GE is not a safety stock in a more volatile market environment," he wrote. "The bottom line is that, not surprisingly, buyers of these assets are likely selective on those that are cash rich and will not be buying 'contract assets' which will remain with GE to deliver on."
The company did not immediately respond to a request for comment.
— CNBC's Michael Bloom contributed to this story.