GE (GE) Adds $10 Billion In Market Cap On Earnings Optimism

Industrials

Published: April 9, 2009 1:42 pm

Last Updated: April 9, 2009 2:08 pm

GE (GE) is surging based on the assumption that results from Wells Fargo (WFC) are an indication that earnings from the conglomerate’s financial services business will be relatively strong.

The stock is trading up 8% at $11.50 and has added about $10 billion in market cap today.

GE is also being pushed higher by general optimism that the overall economy may have bottomed and word out of China, one of the company’s largest markets, that GDP growth there has begun to click up again. GE’s infrastructure business relies heavily on business in developing markets.

Analysts are current estimating that GE will make $.21 per share in the quarter that just closed and $1 for the year. If the Wells Fargo’s earnings are an indication of a broader improvement in financial assets, GE could easily beat the estimates which have been revised down by most brokerages.

Douglas A. McIntyre

Are You Still Paying With a Debit Card?

The average American spends $17,274 on debit cards a year, and it’s a HUGE mistake. First, debit cards don’t have the same fraud protections as credit cards. Once your money is gone, it’s gone. But more importantly you can actually get something back from this spending every time you swipe.

Issuers are handing out wild bonuses right now. With some you can earn up to 5% back on every purchase. That’s like getting a 5% discount on everything you buy!

Our top pick is kind of hard to imagine. Not only does it pay up to 5% back, it also includes a $200 cash back reward in the first six months, a 0% intro APR, and…. $0 annual fee. It’s quite literally free money for any one that uses a card regularly. Click here to learn more!

Flywheel Publishing has partnered with CardRatings to provide coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.