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GE: Another Guidance Cut on the Way?

General Electric (GE) is trading higher on Monday, after restating its 2016 and 2017 financials in an 8K filing with the Securities and Exchange Commission after the close of trading Friday. GE lowered 2016 and 2017 earnings per share and revenue in the statement, as it had to adjust for new revenue-recognition rules issued by the Financial Accounting Standards Board several years ago. Goldman Sachs' Joe Ritchie reiterated a Neutral rating on the shares today, writing that while the restatement was more "benign than bear-case expectations," they were still worse than the company's prior guidance, and that the changes, along with a weak core business, means that it is "almost a certainty" that GE will have to cut the full-year forecast, perhaps as early as its first-quarter earnings report.