Jim Cramer’s Thoughts on GE’s Downgrade, Pinterest’s IPO, Wells Fargo and Levi

Time to kick off this week. General Electric’s Downgrade JPMorgan’s (JPM – Get Report) Stephen Tusa, one of the highest-rated analysts on Wall Street and long-time critic of GE’s (GE – Get Report) flagging business model, said investors are “underestimating the severity” of challenges and risks at the company while “overestimating the value of small positives.” Tusa lowered his price target for GE by $1 to $5 a share, the lowest among major banks covering the firm, and cut his outlook to “underweight” from “neutral.” Tusa also said GE’s power…

RBA Minutes On Tap For Tuesday

The Reserve Bank of Australia will on Tuesday release the minutes from its April 2 monetary policy meeting, highlighting a modest day for Asia-Pacific economic activity. At the meeting, the RBA voted to maintain the cash rate at 1.50 percent – where it has remained since August 2016. Japan will see February numbers for its tertiary industry index and March figures for condominium sales. The tertiary industry index is expected to slip 0.2 percent on month after rising 0.4 percent in March. Condo sales sank an annual 6.7 percent on…

Stocks end down on the day after bank earnings disappoint investors

From Sunny Oh: U.S. stocks finished slightly lower on Monday after earnings from Goldman Sachs Group Inc. and Citigroup Inc. underwhelmed amid concerns over the banking sector’s health. The Dow Jones Industrial Average DJIA, -0.10% shed 28 points, or 0.1%, to end around 26,384, based on preliminary numbers. The S&P 500SPX, -0.06% fell by less than 0.1% to end around 2,906. The Nasdaq CompositeCOMP, -0.10% fell 0.1% to finish near 7,976. Though both Goldman Sachs and Citigroup C, +0.03% beat their earnings estimates, their sharp decline in revenues failed to impress investors. Market participants are also looking for any signs…