Diamonds and Dogs

3/9/23

General Electric (GE) jumps 8% after reaffirming 2023 financial guidance Thursday while offering the first long-term growth outlook for its aviation business. GE stock rocketed to a nearly five-year high. The company also backed 2023 revenue growth and FCF outlooks for its aviation, power and renewable energy segments. It continues to expect a profit of $5.3 billion-$5.7 billion for aviation, as well as a loss of $200 million-$600 million for power and renewables. In early January, GE spun off its health care business as a separate company, called GE HealthCare Technologies (GEHC).

Etsy (ETSY) down on a double downgrade. The online marketplace is down 3% after Jefferies slashed their price target to $85 from $150 a share. The analyst is concerned the company is spending more on marketing at the same time consumers are pulling back in their spending habits.