July 19 - General Electric eeked out a small profit but gave an upbeat outlook. Google stumbled on revenues and profits.
Voters sitting now the bankruptcy we're looking at Detroit by the numbers at the topping your Friday morning call. Michigan governor Rick Snyder giving the go ahead for Detroit's bankruptcy filing in a webcast yesterday afternoon. We're trying -- top ten investment funds with the biggest exposure to Detroit at Franklin Templeton with over half billion in issues. And Detroit has more than 100000. Creditors. Who's gonna get paid and how much those most at risk are the ones holding eleven billion dollars in unsecured debt. This filing is by far the largest municipal bankruptcy in US history and the first US major city to do so. And tried as the municipal bankruptcy this year. Emergency manager Kevin or saying there was no other way to go and that people shouldn't view it as a negative as a way back to stability. But that's not how money sees it steaming the filing a credit negative which could be interrupted payments to bondholders. Google down 3% in the premarket and that's our first stock to watch. Shares falling below that 900 dollar level that investors had gotten so Compuware over the past few months. The stocks getting some reviews from brokerages. Raymond James slashing its price target from 1030 dollars to 990. But Piper Jaffray still a believer. It down to Google missing earnings estimates due to weakening ad prices. -- is breaking news rob Cox says that with were people viewing Google on their tiny cell -- greens. Advertisers are paying smaller prize for the shrinking real estate. Brokerages have no mixed feelings about our next stop Microsoft. Evercore and RBC among others cutting their price targets this morning. Microsoft missed profit estimates yet again. The company took a massive beating with a 900 million dollar charge on excess inventory as surface tablets like mr. Abbott. Language on store shelves. Shares of Microsoft fell 5% after hours and are down 6% this morning to 33 dollars. Before the sell off shares have risen 32% this year. To -- -- spicy things up this morning shares rising 5% to 395. Dollars. A bunch of brokerages giving a thumbs up after sales rose. Hedge fund manager David I'd probably eating his words after shorting the stock last year. GE Honeywell and Ingersoll ran all out with earnings before the bell and you can check those out on our. Snaps at the bottom screen that and more headlines today but let's focus on GE for a second. The company beat by a penny on earnings per share. Orders for industrial machinery rose across it's portfolio. CEO Jeff -- feeling good about the -- emerging markets remain easily there -- strong growth in the US. This happened this year is looking good to know -- margins on products expected to improve later this year. GE shares -- likewise up nearly 2% to 24 dollars. And not to markets US stock futures pointing to a X opened today the Dow S&P and NASDAQ -- and -- it all time highs on Thursday. Driven by earnings and Ben Bernanke's testimony on the hill. That's your Friday morning call remembered follow us on Twitter at latest insider and get more great Atlantic dot com slash -- -- -- -- --