were with ge a long time.here is a future for industrial conglomerates like ge, 3m? >> i really do. i'm a big fan of my tenure at ge with jack welch. i think certainly if you look at what dave cody did at honeywell in his tenure, i think it takes a certain individual to be able to run a conglomerate. but i think if you look at the opportunity and the cyclicality of various business, it's a huge competitive advantage to have a conglomerate to be able to have the goes in and goes out, gary. i'm a fan of conglomerate. >> maria: this was just a ge story in terms of the conglomerate. >> i think so. >> maria: it was not necessarily a look at all conglomerates. the missteps here were ge-specific, bob. >> i think, again, i don't want to point the finger at anyone but you had a 19 person board and a leadership team and it takes a certain sense about running a conglomerate and if you look at jack, he was knee-deep in every one of the segments and knew them as well or better than the people running them at times, maria.

as are shares of baker hughes, majority owned by ge that's off the highs of the day. expected first quarter results really leading to the rally here. health care renewables, transportation helped grow earnings oil and gas do continue to be challenging divisions. expectations coming into these results today were very much lowered and tempered ahead of time that being said, beats on the top and bottom line, the company also reaffirming its 2018 guidance of $1 to $1.07 share adjusted and cash flow 6 to 7 billion for 2018 it says it's on track to exceed its cost reduction goal of 2 billion for this year. it did, however, record or reserve a 1.5 billion. this is related to the wmc investigation that's been under way with the doj over the past couple of years due to the precrisis subprime mortgages that came out of ge. in terms of additional updates on the s.e.c. accounting investigation that's also under way, company not giving any update on that, saying that it's still ongoing. but in the earnings call today, ceo and chairman john flannery called this the first report of

like ge did with baker hughes.n a transaction like that, ge is not getting enough of cash necessarily. i think the reason ge is pouring acid sales as they need cash, and they make a pledge to build cash bounces. something like this that would yield cash proceeds is a little less attractive than an outright sale or even an ipo or they could cash proceeds. the results in an absolute sense were very tough, and the company still has a lot of work to do. the headline numbers were better than we expected, outside of power. most of the portfolio was looking pretty solid. the free cash flow was negative in the corner, -2 billion in the corner. we expect it to be negative in the first half, so we expect to two to be positive, but not enough to overcome this deficit in the first quarter. the earnings are obviously important to look at, but in the near term to so remain more of a balance sheet and cash flow story, along the lines of what i said about meeting proceeds on asset sales. until they show us better visibility on cas

by the way, can i mention that ge, you talked about what ge has to do.now, sometimes it's like the ge comes out of the box. steve will be with us in a few minutes. >> nice. >> yeah. ten minutes from now steve toosa. the biggest bear will come on our show, david. >> why we're citing sources on allergan when the company said sorry, guys. >> they're great sources. >> yeah. >>> speaking of bids pinnacle, you mentioned it a couple of times. it's up this morning taking a significant position in the company. 9.4% stake and they wanted to have to discussions. they want to have discussions with the board of directors and managers to create values, so to speak. what does it mean? for the longest time it's been out there as a potential suitor. they came after them they couldn't agree on price pinnacle had an asset far too high is there something else going on i don't know we know jana is there. you have analyst guys weighing in on who could do a deal. conagra is first heinz is anotherve birds eye ana is a huge believer in the frozen food aisle millennial's like fro

ge has to simplify.an: you've got to look at lockheed martin, one of the most beautiful stocks for 25 years. they increase the dividend. people forget about that. they look at defense only. alix: brian is sticking with me. karen, thank you very much. this is bloomberg. ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. alix: this is bloomberg daybreak. : of nothing is happening in the market. dow jones futures are up by 11 points. everything else is flat, europe as well. sterling is weaker after esther carney -- mr. carney took a rate hike off the table. if the boe has the confidence of the hike in a couple of months, it's a st

they are koupthd on revenue in long-term contracts in light of that here's what we bought the from gehe cumulative retaining earnings impact is $8.4 billion less than had previously been stated for 2016 earnings, those were reduced by 13 cents and for 2017, restated earnings, those reduced by 17 pentz per shampl for the most part in line with the guidance we dot back if february here's what it gets fuchgy revenue the ref view counting standard impacted 2016 revenue by negative 220 billion. nextive 2.2 billion. but the company in addition to these required accounting changes made chaings to accounting and methodology and pension accounting and some other things that it is accounting more. in light of that it is taking another $1.6 billion hit forrevenue in 2017 and a $4 hit to revenue versus its previous reported numbers or 2067 back over to you. >> morgan, thank you morgan brennan in the newsroom, traded up today, sharply up for the markets. what do you think? >> i think that maybe the magnitudes of these may be larger than expected this was expected. let's be cheer, everybody was ant

. -- and a glimmer of hope for ge investors.nd bloomberg school with the industrial giant looking to unload its rail units. we seea mentioned, declines in u.s. stocks and you can call it a selloff after we are steadily declining on the trading day off of session lows. apple was in the selloff, falling as much as 4.2%, right at the 200 day moving average of the morgan stanley cut iphone shipment projections and people are concerned about what is happening with hardware sales. sent hisesident trump twitter iron from the james comey book tour to the price of oil. president took twitter, saying it looks echo opec is at it again with record amounts of oil all over the place, including the fully loaded ships at sea. all prices artificially very high, no good and will not be accepted. here with us is bloomberg metals reporter, and managing editor for energy and commodities. first. will come to you we are seeing oil track higher, and opec. tina: we see the price of gasoline increase by a dollar, so that has got his attention as we head

hi, dom. >> a good day for all ge stakeholders friday.t's fair to say they haven't been pbuying into the ge story yet. analysts looking on average earnings per share of $0.11 on sales of $27.5 billion pricing in a 4.5% move up or down in the stock around this report but the focus is going to be a lot heavier on commentary from company management about how the turnaround plan is progressing and what exactly is next ceo john flannery has the work cut out trying to reinvent one of the most storied companies in history and a lot of homework on what predecessors perhaps did or did not do. >> i worked for jeff for, you know, directly for the last 10, 12 years so the alumni, if you will, have unique perspectives. i still remember calling jeff shortly after starting the job he used to always say every job looks easy until you have to do it i remember calling and saying, you know, i understand that. you know, well now their perspective is invaluable to me. >> friday morning, melissa will ge be able to reassure investors it is on the right path is

i'm carl quintanilla with jon fortt, morgan brennan at ge's shareholder meeting outside of pittsburghe first annual meeting for john flannery who took the reigns in august a lot more is coming up. we are watching the markets try to bounce back from early losses, down about 200 points early in the session in and out of so-called correction territory. after that big move in rates we've seen, 10-year is holding above the 3% mark today that started the year as you know at 2.41 dick is the former chairman and ceo of wells fargo and can talk about the macro and financial backdrop good to have you back. good morning. >> good morning. >> lot of discussion about what higher rates mean this time around given record levels of global debt and business debt nominal to gdp is 3% some magic number for you? >> no. i'm surprised it took us this long, frankly, to get to 3%. i think the bond market is saying that the growth, international growth, is going to continue. the stock market not so much but i think the bond market is right. i think we'll see increasing rates. you know, if you take historical p

ge is significantly reducing the size of its board.rd members were elected today -- elected were there today. there were concerns whether legacy board members should be allowed to continue their term. that will continue to be an ongoing question even though they were elected because there were board members who oversaw the downturn in business. ratified to stay as the auditor for the company, but the percentage was about 65% of participating shareholders last 95%.-- that was about scarlet: a lot of anger is directed about -- toward jack walsh as well. growth was a bright spot for ge last quarter, and 20% profit growth. anythingompany say about the outlook? it will be critical if ge delivers on its 2018 forecast. has hadthe power unit all of those challenges and will be flat relative to 2017. you need a heroic performance from health care and aerospace. they are staying confident in their outlook for aerospace for 2018 their overall goals. at the mix of products throughout the rest of the year in aerospace. ge will be delivering more of

ge dropping below $13 today but that's not the only problem for ge's former chairman.rino tells us what that problem is. he breaks it next on "countdown." ♪ ♪ let's get started. show of hands. who wants customizable options chains? ones that make it fast and easy to analyze and take action? how about some of the lowest options fees? are you raising your hand? good then it's time for power e*trade the platform, price and service that gives you the edge you need. alright one quick game of rock, paper, scissors. 1, 2, 3, go. e*trade. the original place to invest online. there's nothing more important than your health. so if you're on medicare or will be soon, you may want more than parts a and b here's why. medicare only covers about 80% of your part b medical expenses. the rest is up to you. you might want to consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like any medicare supplement insurance plan, these help pick up some of what medicare doesn't pay. and, these plans let you choose any doctor or hospital that accepts

the revised outlook comes as investors atten the company's annual shareholder meeting and a lot of ge retirees are not ppy. morgan brennan is in imperial, pennsylvania. >> reporter: for the first timee gel electric ceo and chairman john flannery faced shareholders, many of them retirees, at the coany's annual meeting. >> we're keenly aware of the pain that our performance has caused and the dividend cut has caus withinvestors, with retirees, with families. we know how much you rely on this, and these were decisions taken really with extre deliberation. >> reporter: flannery who took the helm last summer said he's focuse making the sglingmu bo simpler and stronger adding that changes are underway at every level of the company. one example the board which was remade shrinking from 18 directncs to 12 iding several new additions. for the event, several hundred shareholders protesting before going in showed up making the trek to a ge facility o the outskirts of pittsburgh. many are retirees lik sues soon straws who worked as a machinist tr the company foree decades and came to hear more fr

. >> ge is going to report 2016 reporting.hen the week after that we have boeing i actually think the industrial space is really interesting. we talk about ge every day on this desk. it's the lowest stock in the market, it feels like. one of the highest stock is boeing it's down 10% from its highs of the year it's still up 12%. i think this is a really interesting space, i think the industrial that's right in the middle of the 20 that's why i want to research how good delicate stocks are boeing makes up about 8% of that honeywell and ge, the two. obviously there is a little bit more room to the upside if the thing was to pop a little bit, but i want to play for a move above 70 over the next month or so, because i think whatever good news we have in this sector is in this sector, and when these companies report over the next few weeks, they'll go lower. i was looking at xi when i was trading at 7 and a quarter you could buy the 74.69. you can make up to $4 between 73 and 69 to the down side. i'm targeting that prior low at abou

we called ge and it extended the warranty for an additional year. he told us he would not have been able to get that respond on his own. in a statement, ge said it makes quality, innovative appliances but if an owner has an issue, it strives to remedy it to their satisfaction. if you have a consumer complaint, call us, 888-996-tips or logon to nbcbayarea.com/respond. >>> still ahead on nbc bay area news at 5:00. >> wildlife on the prowl in the city. the warning sites coming out in san francisco. what hikers and dog walkers are being told to watch out for. >>> breezy and cooling conditions now in san francisco. 65 degrees. you might notice high clouds. we are tracking clouds offshore which could bring some showers. your seven-day forecast, the time line when to expect them when we come back. the world cel here )s a look at ev >>> millions of people across the world celebrated earth day. here is a look at events from around the world. an actress called on the people of india to stop using plastic bags. she took part in a beach cleaning campaign. she s

. >>> four, ge's ceo weighing in on the trade spat between the u.s. and china exclusively to cnbc hear those comments ahead. >>> and five, shares of bed bath & beyond getting taken to the cleaners today we'll show you what that stock is doing on this thursday, april 11th "worldwide exchange" begins right now. ♪ >>> good morning from wherever in the world you may be watching i'm brian brian. thank you very much for joining us on cnbc here's how your money and the global markets are setting up their day. stock futures indicating the dow -- we don't know the futures for once are fairly flat thinly traded at this hour don't put a lot of credence into it the dow futures down about 2 points similar story with the bond market maybe volatility there slowing the ten-year treasury note yield yielding 2.77% the bigger story may be in oil crude here and overseas trading at the highest level in 3 1/2 years. global demand is growing inventories getting tighter. watch gasoline prices. u.s. government predicting a 14% jump heading into the summer they're already abou

that's how we see that the option koss pay for the leverage. >> as we look at the markets ahead is ge certainly going to fall >> that's the question whether you are thinking of owning now and hey, should i speculate and take a chance. >> i suspect ge will go down with the market but it probably has had so many people abandon it at this point if money is going to exit the market it's going to be from stocks that held up well. >> atm notion in the market. that's your notion, there is no one left to sell >> there is one fundamental problem in all of that that is one of the things strategically that the company is trying to do is divest assets when you have spin-offs those are the things you should be buying obviously if the market gets disruptive that could disrupt those sales and that fundamentally creates a potential head wind. >> for everything option os action check out our website, while you are there, check out our newsletter over 1 hub,000 of you have what are you waiting for here's what's coming up next -- >> a million dollars isn't cool. do you know what's cool? >> testifying be

are you buying ge? do you think there is some opportunity? >> we are not doing any ge right now. are so many moving pieces. i would love to see them do some spinoffs and breakups. right now, we are just watching it with interest. >> ian? >> we are looking at the corporation as a whole and the still favoring credits in general. the high-yield market is where we would really see the value. i think broad-based i would say yes. real quick, you think that junk bonds in the u.s. rsl? that is a great question. over the last couple of days we have seen spreads since the financial crisis. we are pretty much at levels we saw in january. that is not to say they cannot go lower. if you go back to 2007 they were trading at the 200 handle. you might see a little bit of stability at these levels. there is an opportunity within the european high-yield complex. i have not seen the demand over the last couple of weeks. >> bank you so much. we have more coming up. everyone is sticking with me. let's get a market check on where bonds have been this week. 10 year yields climbing back up at 2.95%. rea

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earnings and also moving off ge earnings good exactly, baker hughes, ge, in fact, bhge, mel, they'reuying may calls in a big way. you see the stock responding with some positive earning beat estimates by about 3 cents on the bottom line basically matched top line they say the things are picking up with the offshore portion of what they do so stock's up $117, just shy of $35. it was around $34 end of january, january 20th or so. so people are coming in here, they're buying upside calls at the $40 strike again, wouldn't take an unbelievable leap to get it there, especially with crude oil moving up like this. i'm in these calls i'll probably be in there about three weeks. >> thanks for that, john dr. john najarian. shares of ionis pharmaceutical on the move. we'll speak with theeo c of ionis about that deal next ♪ feel that? that's the beat of global markets, the rhythm of the world. but to us, it's the pace of tomorrow. with ingenuity, technologies, and markets expertise we create the possible. and when you do that, you don't chase the pace of tomorrow. you set it. nasdaq. rewrite tomo

. >>> dom mentioned ge, the worst performing down 25%. more than 56% shedding $145 billion in market cap. the chart master says the bottom could be near. >> this is outright speculation. and speculation if you think about it is forming a theory without firm evidence. this is just that going to be all hay wire and quite clever. this is back to the peak in '99. what we know is after the counter trend rallies you have this as it breaks down. a counter trim rally from the lows of '09 up until '07 and then this plunge. i want to use this construct and pull it back to longer term. here is going back to 1990. one of the great winners of all time. it peaks. and you have these two counter trend moves and plunges. keeping an eye on those two plunges, this is fun. if you look at the rsi, today it touched to the penny the exact same level as the '09 level. and the stock over the last two weeks is holding up a little bit better than the market. let me show it to you on a short term basis. even if ge goes to 0 or 1 maybe an enduring bottom sets in. on

dom mentioned ge, the worst performing industrial name in 2018, down 25% more than 56% over the last year shedding some $145 billion in market cap over that ime the chart masser says the bottom could be carter >> this is outright speculation. and speculation if you think about it is, it's forming a theory without firm evidence either this is just that, going to be all haywire or quite clever let's figure it out. this is back to the peak in '99. and what we know is after these count ker trend rallies, you have this plunge that breaks down through the thing a counter rally from are the the lows of '09 till '07 and then we have this plunge i want to use this construct and pull it back longer term here is going back to the 1990s. one of the great winners of all time peaks with the mark and the dotcom era and you have two counter trend moves and plunges. keeping an eye on those two plunges, watch this. this is fun. if you look at the rsi, it today touched to the penny the stakt same level at the '09 low. and the stock over the last two weeks is hold who up a little bit better than the mar

just how agitated are ge investors?t we saw today were ge retirees upset about the fact their health care benefits were walked back. they are upset about the fact that the share price is down so significantly, eating into retirement savings. that is what we heard today in terms of shareholders raising their concerns. you brought up the credit rating outlook, that as a big deal because ge relies so significantly on commercial paper for day-to-day operations. any sort of rating cut will have ramifications even kpmg was ratified to stay as ge's auditor but the percentage was 65% of participating shareholders for kpmg. last year, that was about 95%. >> china has eased its grip on capital outflows. raising the quota for funds to invest in securities overseas. what are the practical implications of this move? >> this is a move that has been broadly welcomed by economists and analysts. institutional investors in china will be able to buy more securities abroad. the government sets a quota and it has relaxed that quota and has

morgan brennan outside the ge shareholder meeting. stock down nearly 5% >> this is a very expensive stock. >> somebody make a pitch last night on the five that said now is the time to buy it. >> no, no. this is nose bleed it maybe makes 50 cents of cash flow this year, maybe not. between 50 and 60 depends on who you listen to. i think what's wrong with the premise, the investment thesis about this is, every time they sell off a division, somebody out there is making a decision that they have free cash flow that they can redeploy into a better yield opportunity not so every dollar is going to have to go to retire debt or reduce pension liability. not some of it, all of it. so what's going to happen -- otherwise, rating agencies go ballistic on the debt, which causes chaos for the remaining case flow. that's assuming they make 50 cents. this stock is going somewhere between $8 and $10 even there, it will still be expensive. i don't know when, but that's where it's going this should be a private equity turn around. everything should be s

investors -- are ge investors?t about that ge share prices are down so significantly eating into retirement savings. that is what we heard today. you brought up the credit rating outlook, that as a big deal because ge relies so significantly on commercial paper for day-to-day operations. kpmg was ratified to stay as ge's auditor but the percentage was 65% of participating shareholders for kpmg last year, that was about 95%. >> china has eased its grip on capital outflows. one of the practical -- what are the practical implications of this move? >> this is being broadly welcomed by analysts. it means that china will be able to buy more securities abroad. it has relaxed the quota and has increased the amount of securities it allows to be 90 billion u.s. dollars to about 98 billion u.s. dollars as of april 24. it does give those institutional investors more options and it seems to be another step toward a gradual move to open up the financial markets. china and see the markets. investors here to be more integrated wit

what to can you make of ge?s down to the low teens, a 4% move becomes pretty easy, you know? 67 cents will do it. it was a good earnings release, and that's what drove the stock price higher, better earnings than expected. the issue is that cash flows that are sustainable, repeatable which was the heart of their business forever, they had these monstrous cash flow businesses, they're gone. they're not there. they're not part of the assets of ge's portfolio right now. they had to sell off a lot of things post-financial crisis. we need to see a better strategic plan in place. stuart: you're not playing around with ge at $14 a share, you're shaking your head? >> no. again, we're not traders. we're not jumping in to buy things on a trade. it was one of the great sells i've had. we sold it at $32 in anticipation of dividend cut. that came at $22, now the stock's at 14. i love the history of the company, but i need to see growing cash flows that lead to growing dividends for me to be interested. stuart: last time you

he tried to raise that issue with ge and got nowhere. he reached out to us for help. the parts and labor warranty was extended for an additional year. he would not have been able to get that response on his own. in a statement ge said it makes quality innovative appliances and if an owner does have an issue, it strives to remedy it to their satisfaction. if you have a consumer complaint, call us, 888-996-tips or log on to nbcbayarea.com/responds. >> thanks a lot, chris, 4:56, happening today, classic car lovers get started on a one of a kind northern california race. drivers take off this morning from knob hill and it is for the annual california mille, a four-day rally from the bay area north. all cars are vintage sports cars and drives will head out at 8:30 this morning. >> as you wake up, you're certainly going to see wet roads out there this morning and showers probably going to catch a lot of people this morning but a lot of people wondering how long will the rain stick around? >> it's going to be off and on today around the bay area. here's a live look outside i

i want to stick with this thing because i was looking back beyond ge and honeywell and really wantedtarget boeing next week and that's how i'm playing it now it just got rejected at the down trend this put spread i paid $1 is now 65 cents i want to stick with it. >> what does xli look like, carter. >> reject it at the downtrend. >> those annotations were correct. >> mike? >> this is funny now we actually have a two-way trade on since we're bullish on ge but bearish on the space but we're bearish in boeing but i obviously agree with it. >> up next, tweets and the final call from the options pits well, it's earnings season once again. >>yeah. lot of tech companies are reporting today. and, how's it looking? >>i don't know. there's so many opinions out there, it's hard to make sense of it all. well, victor, do you have something for him? >>check this out. td ameritrade aggregates thousands of earnings estimates into a single data point. that way you can keep your eyes on the big picture. >>huh. feel better? >>much better. yeah, me too. wow, you really did a number on this thing. >>sorry

good luck, barbie. >>> in a down day for the markets, ge is lead the dow.ults convince investors that the worst is over for the big industrial conglomerate plus, another shoe drops at nike more executives leaving as the company scrambles to rakeme its corporate culture. the fallout is ahead need a change of scenery? the kayak explore tool shows you the places you can fly on your budget. so you can be confident you're getting the most bang for your buck. alo-ha. kayak. search one and done. feel that? that's the beat of global markets, the rhythm of the world. but to us, it's the pace of tomorrow. with ingenuity, technologies, and markets expertise we create the possible. and when you do that, you don't chase the pace of tomorrow. you set it. nasdaq. rewrite tomorrow. the largest energy drains on your electricity bill? so, hang your clothes out to dry. you'll save money and the environment, and protect your fabric, too. your future is on the line. >>> welcome back to "power lunch," everybody. the dow is struggling because of apple. but general electric is the

i figured ge stays because it's ge >> it's legacy >> i'm not sure it should be jack, at least oil andusiness might be coming back. they went into that full on on the way down to 30 >> good thing they didn't sell it yet >> exactly i don't know >> let's hope they don't sell it before it does >> right >> thanks, jack. >> thanks, jack. >>> coming up, jpmorgan set to report we'll bring you numbers and reaction stay tuned, you're watching "squawk box" on cnbc what are the ingredients of a life well lived? is it the places you go? the things you own? or the people that fill it with meaning? for 150 years, generations of families have chosen pacific life for retirement and life insurance solutions. protecting what's most important to you. that's the power of pacific. ask a financial advisor about pacific life. yes or no?gin. do you want the same tools and seamless experience across web and tablet? do you want $4.95 commissions for stocks, $0.50 options contracts? $1.50 futures contracts? what about a dedicated service team of trading specialists? did you say yes? good, then it's time for powe

even though ge also does a lot of business in manufacturing in china, flannery is not worried about a trade war between the u.s. and that untry. >> fundamentally, you know, my belief is over time people are rational about what is in their collective best interest. so when i look at that i say, this sort out over time in a sensible way for both so will there be a lot of m noi anbe drama along the way? probably. >> reporter: ge's chief executive who's been at the helm since august addressed the chalnge of keeping goo people on board even as steep costs cuts have resulted in layoffs. >> any time you're in a situation like thishere's ther stresses, change, pressure, there's an element of that population that really rises up and says, i l in this right now. this is like an amazing opportunity. i can help reshape an iconic company. that is an incredibly motivating force to people. >> reporter: all this as investors await restated financial results for the past two years thanks to new counting rules and then first quarter earnings which are due out next friday folwed by shareholder meeting a

. >> this next one is going to be ge. so originally, i did not like ge because of the unfunded liabilities and just the general environment with oil and the whole complex. if you look at it now. oil has rallied. that's going to help the majority ownership for ge. that's number one. number two, aviation and health care. that's outside not just yet but it chips away at the underperformance you see in power generation. so that's the second reason. second bullish reason. number three, rising rates are offsetting liabilities. number one headwind that everyone has with ge, unfunded liabilities. the higher rates go, the more they can pay these liabilities. if you look at the chart, in the name, if you look at the chart, this is the level here. it seems as if all the negativity has been priced in for now. if management can continue to perform the way they said they can perform, you're going to see this stock fly. you know what's the most important thing that happened today, the rest of the world was red, ge was green. that should

liz: what does ge have to do with this? >> i am going to talk to ge in a minute.ayton is persona non grata in the cryptocurrency business. you can expect a couple things. lobby group to come out of the cryptocurrency business to lobby the sec to back off the regulation. liz: which is what christine lagarde said yesterday to us. she said don't breathe down so heavily, this is a new technology much like the internet in the 90s. >> and as we reported yesterday, all the u.s. icos, initial coin offerings, where you essentially sell, going public through a cryptocurrency, they have been halted right now. they're moving overseas. so this is a big thing, expect some sort of -- i guess backlash from the industry. if you want talk about ge. liz: please do, even though it's up today, the worst performer on the dow 30 today. >> $14. liz: it's above it now. >> i think we have to look that the with ge, how much of their businesses can they sell to generate cash flow? situation wasn't as bad, that was reported today. they got a spike on the stock, and, you know, you have to see

meantime, ge stock did finish the day higher. i'm morgarennan at the new york stock exchange. >> it is time to take a look at some of today's upgrades and downgrades. itter was upgraded to buy from neutral at lkm partners. citing factors including user growth and twitter's mass market potential. the price target was increased to $40. twitter shares rose 1%o31.91. darden restaurants was upgraded to tperform from market perform at bernstein. the analyst expects darden's olive garden restaurants to perform well and cites long-term margin expansion. the price target is 05 per share. the shares were up more than 1% to $91.05. tractor supplies rating was raised to overweight f neutral at piper jaffray. the analyst there citing improving business trends in e agricultural industry. the firm's price target on the specialtyetailer is $72 a share. the stock rose jus fraction to $60.33. >>> still ahead, tis the season for sneezing and sniffling. >> spring is here and that means allergy season is un us. coming up, a look at why your allergies

ge looks horrible as far as stock goes. it as buy, i wouldn't be surprised if it gaps down and the continue markets to fall too. cheryl: interesting, sean, do you the same take as melissa does? >> i am going to be looking as to what happens with power unit. i think right now some investors are seeing this as bit of an opportunity to cautiously start accumulating a position in here but i certainly don't think this stock is out it have woods yet i wouldn't go in buying buying wih hands here but maybe start thinking if this is starting to get an entry point but certainly not a stock you want to try and pick the bottom in because if you've been trying to pick the bottom in ge since started pulling back in 26 -- cheryl: fall of great american company, i have to tell you. wells fargo, let's talk about the billion dollar settlement on risk management. another hit for the bank, forget the fake account scandal, this seems to be the biggest financial hit that they've taken. >> the hits just keep on coming from wells fargo. earnings l

to take a look back at some of our open trades now, two weeks ago cohen carter made a bold call on geis what is sort of interesting. as again it has continued lower over the last several weeks and months, the actual internals have moved higher. think i want to stick my neck out, take a gamble that this very important, now less important stock is maybe so bad it is good. >> i was looking at the june 14th-15 call spread earlier today you could ball the 14 calls for $0.15, sell the 15th for a quarter >> they were right it was a case of so bad it is good ge shares are up 10% since then, so, mike, a lot of time left on the trade. what do you do here? >> we do have some more time, but we also have more than doubled the original investment that we made we made a quarters, worth about $0.55 now. the lower strike call is in the money and i think we want optionality here my inclination would be roll it out and up you would be taking some of the money off the table, to july. >> almost like the energy move you get a big move off the low and you should get consolidation before you ultimately advan

ge capital has been one of them. what happens there >> so ge capital, it's an equity ownership stake by the parent. in many respects, they're independent. i think they have the funding wherewithal to deal with the insurance reserve requirements over the next several years. but they can only work through that process with the backstop of belonging to the parent so i don't think that's ultimately going to be a draw on the parent other than it restricts their ability to have any discretionary cash they have to build cash in the process. >> there was really -- i was there at the event last night. if you were to play the game of buy, sell, hold, not of the stock, but of the assets that make up the current general electric, you would have to have come away from that meeting thinking that mr. flannery was seller, not a holder or a buyer. >> i'm not sure what the embedded question is there are assets they want to sell i think in the long term what you're probably looking at is a portfolio with aviation, healthcare, power, an

well, ge sent a technician. winston said that repairman concluded the fridge was missing a tube of some sort, so he ordered one. but when that technician came back to install the tube, he realized there wasn't a tube missing after all. at that point winston said he and rhethe repairman teamed up guess their way around fixing the problem. working together they shortened tube and repositioned it. that seemed to correct the problem. now hot water dispenses properly and the leaking stopped. but winston worried that that problem might resurface after his warranty expired. he tried to talk about that with ge but to no avail. we got ge to extend the parts and repair warranty for an additional year. winston said he would not have been able to get that on his own. ge says it makes quality, innovative appliances. but if an owner does have a problem, they strive to solve it to their satisfaction. if you have any issues, call 1-888-996-tips. >>> a rapper has won a pulitzer prize for music. kendrick lamar already has 10 gram

if that is the case, it could mean that ge is a $21 stock.ere we are currently and an interesting call. genie: -- mark: what does need to do to turn this ship around? >> that is a big question from a macro standpoint. they need to lift the curtain, he says, his exact language was that this company has been stripped down, they have new management and a new board and new compensation plan, new portfolio of products and a need to provide certainty. and they need to provide more certainty around the sec investigation. interesting stuff. if we go into the bloomberg, this chart is not one that you necessarily need to like if you are long. this is the gtb library, equipment -- you see the sharp downtrend and ge is below the 50 day moving average. they do report on april 20, maybe that congestion on the bottom takes the stock back up to 15. if they do create come a gives the visibility investors are looking for around these issues, who knows, maybe the case is that these issues of the past may not continue to weigh in and free cash flow will be boost

. >> ge in one year?, well, back to the basic ge that you always knew in our businesses, really strong franchises and flourishing we're in a show-me mode right you in all of the words that i can say or hope for or direct the reality is in one year we have to have proven and we have our first report card coming out on april 20th and we have to have proven that we can run the company better and improve the results and get the essence of the company to shine >> now there's a ton of speculation out, david, that their strategy and divestitures and whether or not it will be more modest than we might have thought before >> i'm not in that camp. i've been reporting this for a while and without any level of detail, i'll fully admit, but the expectations amongst the details i've spoken to is that it will be not modest, and whether you get a great level of detail associated with it is unclear and i don't know if you will hear much on the 20th and i think we're talking later than that in terms of getting something mo

eastern. >> a big day for ge, a lot of industrials in focus here.much. >>> all right. india is making a big pitch to all americans to come visit. joining us now is k.j. alfonz, the minister of tourism for india. i will be the first to say india has drawn a lot of intrigue. a beautiful country, one i grew up visiting, but there's still concerns about safety of foreigners what is the government doing to ensure that foreigners feel safe >> india is a perfectly safe company. if we talk about numbers, anything that happens is unfortunate. so there are safety concerns, there was an incident that happened about six years back. if you are talking about an incident that happened six year back and nothing further, i think india is safe. >> there's been concerns around the safety of women and rape, safety for women and girls >> it's extremely unfortunate an incident like that happening, it's really bad, it's inappropriate and unacceptable but let me tell you again, the country is very safe the number of instances of such incidents happening in india is so few

alix: we want to start with ge.is interesting to me, one billion in cash -- $1 billion in cash because ge needs that cash. >> a little bit underwhelming. the shares slid yesterday and what is interesting and a take away from this is that it may be that ge is announcing that it is going to shave down some of its assets to bring it out of this slump. grind of selling these assets. are we surprised they started with health care? people thought that was a potential growth area. peggy: i was surprised about that, too because they talked about refocusing on their jet aircraft and medical imaging which are some of their strongest business lines. john flannery did work in the health care side of the business for a long time, so it is possible that he knows that unit really well and understands they could do without it while they focus on the health care side when it comes to enterprise imaging. alix: jpmorgan is the biggest bear on ge and as don't worry about the sale, you still don't want to buy it. even when they do somet

never forget about ge, it bottomed around $11 a share bouncing now close to 14 as we speak. facebook provides a preview of its privacy makeover, it will allow european users, european users to opt out of targeted ads and facial recognition, that applies to europe, not to america, facebook hardly changed 167. look at netflix, big nice pop yesterday after putting strong numbers, down just a buck today, 334. let's talk streaming more, espn teaming up with roku, that's a surprise to me. why is roku down 30% this year, jason? >> there's too much competition. i mean, you to look at the mote that all great valued investors

ge says it is a part of an ongoing effort to reduce cost and improve efficiency. ge says some of the affected workers will be transferred to different positions rather than laid off. >>> the federal government is kicking in about $22 million for the north bay's smart train. federal grants would help cover extending rail services fromdowntown san rafael to the large ferry are terminal. bart began service last summer, and the ridership has exceeded expectations. it has always been the plan to link smart with golden gate ferry systems at the terminal. now work has already begun on a two-mile extension. if all goes well, the additional train service could begin bit end of next year. >>> well a warm night across the bay area and a number of people in allen martin toe took advantage with a little dinner, taking a little evening stroll through their streets that line up downtown. most people didn't even need a jacket. >> it is very nice. on a night like this at 1965. professor tom lahr just around the station on broadway sat down at the hungry nightclub and recorded that

pd is it the new ge year?ng company and we say it is the new ge because if you look at all the different business life they have got to have a diversified portfolio. and they are on top of the industry in every domain they operate and. that means cloud and retail and video streaming, even smartphones. they are doing very well. if you look at what has made them great, it is their leadership principles and .elentless focus on customers it has given them the ability to go and do really well in new businesses, and also grow existing businesses. if you look at future investments and what they are doing, they are using advanced analogy like ai across the board. and use it on amazon.com, also on the supply chain. as they say in some circles, even before you buy a product, they know you are going to buy it. if you look at what they are doing in physical domains after the whole foods acquisition, they are testing out things like cashierless checkout stores and physical brick and mortar bookstores. and the amazing compa

today, ge is expected to restate earnings for the past two years, and morgan has more.hat do you expect this afternoon? >> well, ahead of the first quarter results that are due next friday, ge is restating earnings for 2016-17 the reason, a new accounting standard took effect making companies reveal more about how they stiestimate revenue from lg term contracts ge expects to cut 16 cents after the 2017 earnings and anticipates a $4.2 million accounting charge. analysts think it could be higher because it may mean lower price service contracts. the results are not expected to impact 2018 guidance or cash flow, but adoption of the new rules do come as the sec investigates the company over long-term service contracting, a probe revealed earlier this year what to watch for? numbers surprising disclosures falling in line with guidance could strengthen credibility, and, lastly, if some metrics look worse depending on q1 results, that could push up ge's borrowing cost something to watch because yields on ge's outstanding issueances already jumped, guys? >> thank you very much