A visitor at Intel’s Artificial Intelligence (AI) Day walks past a signboard during the event in Bangalore, India Manjunath Kiran | Getty Here are the biggest calls on Wall Street on Friday: Bank of America downgraded Dow Inc. to ‘underperform’ from ‘neutral’ Bank of America said it downgraded the chemical company due to global demand
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General Electric bounced back Friday after the CEO shored up confidence by purchasing a bulk of company shares, and analysts defended the industrial giant. GE’s stock was up more than 6% on Friday morning following its biggest drop since April 2008 a day earlier. GE shares had tanked 11% on Thursday. The stock began its
The allegations by Madoff whistleblower Harry Markopolos of a $38 billion fraud at General Electric are “at best disingenuous” and “at worst highly inaccurate,” according to Nick Heymann, co-group head of global industrial infrastructure at the William Blair financial services firm. “You got the stock on sale yesterday for absolutely no basis. This is why
President Donald Trump held a conference call with the CEOs of the three biggest U.S. banks as the stock market plunged Wednesday. Trump held the call with J.P. Morgan Chase CEO Jamie Dimon, Bank of America‘s Brian Moynihan and Citigroup‘s Michael Corbat, according to people with knowledge of the situation. The Dow plunged 800 points, or 3%, in
The General Electric Co. logo is seen on the company’s corporate headquarters building in Boston, Massachusetts, U.S. July 23, 2019 Alwyn Scott | Reuters Enron whistleblower Harry Markopolos released a report on General Electric on Thursday alleging the company is hiding financial problems. Before the report was made public, GE said, in a statement, “we