Earnings Outlook: GE stock extends bounce ahead of earnings
General Electric Co. investors were upbeat Monday, as they got set for the industrial conglomerates latest earnings report due out the next morning.
The stock GE, +1.06% gained 1.0% in afternoon trading. It has now bounced 7.0% since it slumped 4.4% on July 19 to close at a five-month low, as part of a broad-market selloff.
GE is slated to release its second-quarter results on Tuesday, before the opening bell.
Investors may be taking comfort in the fact that GE management had plenty of opportunity to warn them about a potential shortfall since first-quarter results were reported, and full-year guidance was provided, in late-April. GE participated in no less than six conferences hosted by brokerages, as well as the Paris Air Show last month and hosted the annual general meeting in May.
And although fellow aerospace company Lockheed Martin Corp.s LMT, -3.46% second-quarter profit came up a bit shy of Wall Street projections, it appeared to result from a company-specific issue in its aeronautics business rather than disappointing industry demand.