We kick off a new week of trading with continued optimism regarding U.S.-China trade talks. Yesterday, President Trump announced he will again postpone the tariff hike on Chinese goods coming into the U.S. from 10% to 25%. After citing “very productive talks” with Chinese President Xi Jinping, Trump hopes to conclude a new trade deal at his “Winter White House” in Mar-a-Lago, Florida at an unspecified time in the near future.
Overnight, the Shanghai Composite rose 5.6% on this news, with the Shenzhen index up 5.4%. This has brought U.S. index futures up into the green in today’s pre-market, with the Dow +150 points, the Nasdaq +54 and the S&P 500 +14.5 at this hour. The S&P is looking to cross back over 2800 for the first time since early November of last year, and is currently +11.4% year to date as of Friday’s close. The Dow is +11.5% since 2019 began and the Nasdaq is +12.9% over the same time frame.
GE Sells Biopharma Unit for $21.4 Billion
General Electric (GE - Free Report) has sold its biopharmaceutical unit to Danaher (DHR - Free Report) for $21.4 billion, in a move that will help the giant conglomerate continue to pay down debt. The move, led by GE CEO Larry Culp — who used to be CEO of Danaher — comes as something of a surprise; earlier expectations was for an IPO spin-off of GE’s biopharma wing along with its entire healthcare unit. Traders appear to like this deal very much: not only are GE shares up 14% following the announcement, but Danaher has gained over 5% in today’s pre-market as well.
Late last year, GE’s share price slipped all the way to $7 per share, to their lowest depths in more than 25 years. Since then, perceptions of the company’s board taking responsibility to address difficult changes — first with CEO John Flannery and Culp as of 4 months ago — have improved the company’s situation greatly. Based on where this news has brought shares in today’s pre-market, GE stock is up near 45% year to date. GE shares currently carry a Zacks Rank #3 (Hold).
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
We kick off a new week of trading with continued optimism regarding U.S.-China trade talks. Yesterday, President Trump announced he will again postpone the tariff hike on Chinese goods coming into the U.S. from 10% to 25%. After citing “very productive talks” with Chinese President Xi Jinping, Trump hopes to conclude a new trade deal at his “Winter White House” in Mar-a-Lago, Florida at an unspecified time in the near future.
Overnight, the Shanghai Composite rose 5.6% on this news, with the Shenzhen index up 5.4%. This has brought U.S. index futures up into the green in today’s pre-market, with the Dow +150 points, the Nasdaq +54 and the S&P 500 +14.5 at this hour. The S&P is looking to cross back over 2800 for the first time since early November of last year, and is currently +11.4% year to date as of Friday’s close. The Dow is +11.5% since 2019 began and the Nasdaq is +12.9% over the same time frame.
GE Sells Biopharma Unit for $21.4 Billion
General Electric (GE - Free Report) has sold its biopharmaceutical unit to Danaher (DHR - Free Report) for $21.4 billion, in a move that will help the giant conglomerate continue to pay down debt. The move, led by GE CEO Larry Culp — who used to be CEO of Danaher — comes as something of a surprise; earlier expectations was for an IPO spin-off of GE’s biopharma wing along with its entire healthcare unit. Traders appear to like this deal very much: not only are GE shares up 14% following the announcement, but Danaher has gained over 5% in today’s pre-market as well.
Late last year, GE’s share price slipped all the way to $7 per share, to their lowest depths in more than 25 years. Since then, perceptions of the company’s board taking responsibility to address difficult changes — first with CEO John Flannery and Culp as of 4 months ago — have improved the company’s situation greatly. Based on where this news has brought shares in today’s pre-market, GE stock is up near 45% year to date. GE shares currently carry a Zacks Rank #3 (Hold).
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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