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Why GE Shares Are Surging, & the Health of the U.S Housing Market | Free Lunch

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On today’s episode of Free Lunch, Associate Stock Strategist Ryan McQueeney checks in with General Electric (GE - Free Report) after shares surged in morning trading on the back of the company’s new turnaround plan. Ryan reviews the plan and digs into GE’s latest earnings outlook and share price performance. Later, he is joined by Dave Bartosiak to discuss the U.S. housing market.

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Free Lunch is the newest show from Zacks Investment Research. It is streamed live, four times per week, and features breaking news and analysis from Zacks strategists. Free Lunch is available on YouTube, Facebook Live, Twitter, Ustream, and more.

General Electric shares gained in morning trading Tuesday after the conglomerate announced a much-needed rebound strategy. GE, which has lost more than 50% of its value in the past year, now plans to spin off its health-care business and separate its stake in Baker Hughes (BHGE - Free Report) over the next few years.

The plan also includes goals to reduce GE’s debt load and generate new corporate cost savings. Overall, General Electric will shift its focus to core businesses like aviation, power, and renewable energy.

On the first half of today’s show, Ryan reviews this plan before diving into GE’s balance sheet, earnings outlook, and recent share price performance.

Later, Ryan is joined by Zacks Strategist Dave Bartosiak to discuss the latest earnings results from homebuilding giant Lennar (LEN - Free Report) , which crushed estimates this morning. Pivoting from this conversation, the pair discuss the overall state of the U.S. housing market.

Make sure to check out the show to hear what Ryan and Dave have to say!

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