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Jan. 22, 2020, 11:40 a.m. EST

GE's stock sinks to extend losing streak as Boeing's 737 MAX issues poses a risk ahead of earnings

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By Tomi Kilgore

Shares of General Electric Co. /zigman2/quotes/208495069/composite GE -6.16% sank 1.2% in morning trading, putting them on track for a sixth straight loss, and 10th loss in 11 days, amid concerns over the fallout from Boeing Co. /zigman2/quotes/208579720/composite BA -10.27% pushing out expectations for the return of its 737 MAX planes. Analyst Andrew Obin said Boeing's announcement on Tuesday "increases the likelihood" that the 737 MAX production pause is extended through the first half of 2020, which would impact GE since GE makes the 737 MAX's engines. Obin reiterated his neutral rating on GE's stock and his $12 price target. "In our 4Q19 GE preview, we highlighted 737 MAX issues as a potential risk for GE in 2020," Obin wrote in a note to clients. Both Boeing and GE are slated to report results on Jan. 29, before the opening bell. The stock has run up 27.2% over the past three months, but has lost 4.9% during its six-day losing streak, while Boeing shares have shed 9.0% and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -4.06% has gained 9.0%. A 6-day losing streak for GE's stock would be the longest since the 7-day stretch of losses ended on Dec. 5.

/zigman2/quotes/208495069/composite
US : U.S.: NYSE
$ 7.62
-0.50 -6.16%
Volume: 93.30M
March 27, 2020 6:30p
P/E Ratio
103.39
Dividend Yield
0.52%
Market Cap
$66.61 billion
Rev. per Employee
$429,735
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/zigman2/quotes/208579720/composite
US : U.S.: NYSE
$ 162.00
-18.55 -10.27%
Volume: 47.88M
March 27, 2020 6:30p
P/E Ratio
N/A
Dividend Yield
5.07%
Market Cap
$91.40 billion
Rev. per Employee
$660,961
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
21,636.78
-915.39 -4.06%
Volume: 591.33M
March 27, 2020 5:12p
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