Why Shares of General Electric Are Falling Today
Shares of General Electric (NYSE: GE) traded down nearly 5% on Tuesday, outpacing the broader market's coronavirus-related sell-off. A Wall Street bear didn't like what he saw in the company's recently filed annual report, creating additional uncertainty surrounding the shares.
J.P. Morgan analyst Stephen Tusa in a note out Tuesday said that General Electric's higher-than-expected 2019 free cash flow, which excited investors back in January, was the result of one-time restructuring and what he calls "unsustainable progress payment benefits."
Tusa also said that the issues plaguing the company's massive aerospace unit go well beyond headwinds attributable to Boeing's 737 MAX grounding.
Source Fool.com
