Stocks are fighting for gains in the face of GE’s worst day in 8 years—and more tax reform complications. Plus, GE shares are tumbling as the conglomerate goes for a reboot. Can GE ever get back it’s rock-solid status? And, Tesla’s electric semi is almost here, but can Elon Musk deliver the goods after a shaky Model 3 rollout? Plus, after a tumultuous past month, Amazon Studios finally has some good news—with Jeff Bezos making the proclamation himself.
Winners and losers
Stocks in the red today include Exact Sciences as Baird downgraded the ‘Cologuard’ colon cancer diagnostics-maker to Neutral with a $56 price target; Valeant, as the drugmaker announced a $750 million debt offering; and Teva, with shares of the drugmaker dropping after JPMorgan downgraded it to Underweight, citing the challenging generic drug space.
Stocks higher today include JD.com as the Chinese e-commerce site reported $19.1 billion in sales from Singles Day, a 50% jump from a year ago; Roku, with the streaming device maker up again after it struck a deal with AT&T to offer one month of DirecTV on its devices; and Amazon, with shares hitting another all-time high as Morgan Stanley says Amazon will reach $2000 in the next 12 months, making it a $1 trillion dollar company.
Revamping the corporate boardroom
Women now hold just over 20% of the board seats of publicly-traded companies, according to the recently released Gender Diversity Index of Fortune 1000 companies. Our next guest is determined to get that percentage much higher. Beth Stewart is the founder and CEO of Trewstar.