Market recap: GE stock rises on stronger than expected earnings

General Electric climbed 3.9 percent to $14.54 Friday after the conglomerate reported quarterly results that beat Wall Street's expectations and said it expects to book as much as $10 billion in proceeds from divesting industrial assets this year.

April 21, 2018 at 7:00PM
FILE- In this Jan. 16, 2018, file photo, the General Electric logo is displayed at the top of their Global Operations Center in the Banks development of downtown Cincinnati. General Electric reports earnings Friday, April 20, 2018. (AP Photo/John Minchillo, File)
GE said it expects to book as much as $10 billion in proceeds from divesting industrial assets this year. (The Minnesota Star Tribune)

Surprising results: General Electric climbed 3.9 percent to $14.54 Friday after the conglomerate reported quarterly results that beat Wall Street's expectations and said it expects to book as much as $10 billion in proceeds from divesting industrial assets this year.

Big drop: Philip Morris shares dropped 15.6 percent to $85.64 Thursday after it disclosed weak quarterly sales and said sales of its iQos device in Japan were slower than expected. The stock closed the week at $84.27.

Strong lift: Textron jumped 7.8 percent to $64.63 Thursday after the plane and helicopter maker delivered quarterly results that beat analysts' forecasts and said it will sell its tools and test division to Emerson for $810 million. Shares closed the week at $65.59.

On track: CSX climbed 6.4 percent to $60.21 Thursday after the railroad operator said its latest quarterly profit almost doubled as the company slashed costs. The stock finished the week at $60.04.

Icahn's gamble: Gaming and hotel operator Tropicana saw its shares rise 27.3 percent to $70 and resorts firm Eldorado jumped 20.2 percent to $42.90 Monday after Carl Icahn's company said it has struck a deal that would fuse the two companies. Tropicana shares finished Friday at $70.30; Eldorado closed the week at $40.40.

Bingeworthy: Netflix jumped 9.5 percent to $336.90 Tuesday after the video streaming service said it gained 7.4 million subscribers in the first quarter, more than analysts expected. The stock closed Friday at $327.77.

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Jeremy Olson/The Minnesota Star Tribune

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