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Reuters BusinessFeb 18, 2020
Apple's surprise sales warning pressures futures
U.S. stock index futures dropped on Tuesday as investors returned from a long weekend to a sales warning from Apple Inc that highlighted the impact of the coronavirus outbreak on global supply chains.

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US STOCKS-Apple's surprise sales warning pressures futures (Reuters Company News)

MarketWatch MarketPulseFeb 18, 2020
GE's stock falls after WSJ report that Trump administration may block engine sales to China
Shares of General Electric Co. dropped 1.8% in premarket trading Tuesday, after The Wall Street Journal reported over the weekend that the Trump Administration is considering a proposal to block GE's joint venture with France-based Safran S.A. from selling jet engines to China. GE's stock is on track for a third-straight decline--it has lost 2.5% over the past two sessions--since closing at a 19-month high of $13.16 on Feb. 12. Citing people familiar with the discussions, the WSJ report said the Trump administration may decline to issue a license that would allow the JV, CFM International, to export more LEAP 1C engines to China, which are being used to in the development of China's Comac C919 jetliner. The administration is concerned that the Chinese would reverse-engineer the engines, which would allow China to break into the jet-engine market, the WSJ report said, while GE is arguing that trying to mimic the advanced manufacturing techniques to produce the engine is a lot harder than some administration officials seem to believe. GE's stock has run up 12.2% over the past three months through Friday, while the Dow Jones Industrial Average has gained 4.9%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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