JPMorgan says General Electric's earnings and business trends continue to deteriorate.
The "Squawk on the Street" news crew weigh in on news General Electric's new CEO planning to cut corporate staff in an effort to slash spending and boost profits.
Warren Buffett's Berkshire Hathaway sold its stake in General Electric as of the end of June, according to a regulatory filing on Monday.
GE's new Chief Executive Officer John Flannery made a big bet that the company's flagging fortunes will improve, buying nearly $2.7 million in stock.
The new CEO said he has met with 100 investors to get their views on the company as he begins a deep-dive into GE's different businesses.