Incorrect Stock ticker for Ford company and stock price posted in the article "DOW Looses 100 point" on 10/8/18
STOCKS: General Electric gains on “blue sky” outlook
Shares of General Electric (GE) jumped following a bullish analyst outlook from Barclays. Analyst Julian Mitchell, whose 12-month price target is $16 for GE, upgraded the stock to overweight from equal weight and said a “blue sky scenario implies upside” to at least $20 per share. General Electric’s new CEO Larry Culp was announced earlier this month, replacing John Flannery after he had served just 14 months as top executive of the ailing company. Shares of General Electric rose 1.33% to $13.36 per share around market open Monday.
Ford (FORD) is preparing to cut an unspecified number of its current 70,000 salaried jobs as part of the company’s $11 billion restructuring plan. The company expects to have more details by the second quarter of 2019. The Dearborn, Michigan-based automaker fell behind Fiat Chrysler, General Motors and Toyota in U.S. sales last month, and shares of the stock are down more than 24% in 2018 as of market close Friday. The stock fell 1.3% to $1.51 at 9:35 a.m. ET Monday.
Walmart (WMT) will partner with movie studio MGM to create content for Vudu in a move that will bolster the video-on-demand service facing competition from Netflix, Hulu and other streaming platforms. Walmart purchased Vudu eight years ago in the wake of declining in-store DVD sales. Shares of Walmart are up 0.44% to $93.69 around market open Monday.