A seemingly solid earnings report and Jeff Immelt’s 20-minute long informercial on CNBC was of no use to GE today. Despite the muted market, the stock is getting slammed, down over 10% heading into the close. No amount of blustering or banging the drum will convince anyone that the stock is AAA-worthy or that it will hold its yield.
Meanwhile, Felix Salmon presents a good argument that shareholders should pretty much kiss that AAA rating goodbye now.
How GE Could Lose Its AAA Anyway