Shares of Universal NBC parent General Electric plunged to their lowest point in
five years Monday after JPMorgan analyst C. Stephen Tusa cut his rating of GE stock
to neutral. Tusa, a longtime booster of GE stock, acknowledged that he was wrong
in his assessment of the company's performance. GE has been under pressure to spin
off its entertainment units, with analysts maintaining that GE chief Jeffrey Immelt
has little understanding of the business. Among other complaints, some critics say
that the company's strategy to remake its MSNBC cable channel into a platform for highly
opinionated broadcasters on the left, while improving the channel's ratings, is tarnishing
NBC News's reputation for balance and restraint.
17/06/2008
See Also
