Adviser Investments: General Electric & Amazon Earnings

General Electric up 34% in 2019

Chris Hagan, vice president at Adviser Investments, has the market analysis for Thursday, January 31. The Commerce Department reported that new home sales surpassed the forecasted rate and rose 17% from October to November to reach an eight-month high. Meanwhile, Amazon beat fourth-quarter earnings estimates, but its forward guidance missed analyst expectations. General Electric surpassed revenue forecasts and announced a tentative Justice Department settlement related to the company’s now-shuttered subprime mortgage business. In reaction to the news, General Electric’s stock saw its best one-day gain since March 2009, up 11.6%, contributing to a 34.2% return in January.

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