waiting for the big chop on ge....seems like they want to do water torture on it first...
GE Capital CDS spreads widen 64 bps to 626 bps-CMA
Wed Oct 1, 2008 8:56am EDT
NEW YORK, Oct 1 (Reuters) - Credit default swaps on General Electric Co's (GE.N: Quote, Profile, Research, Stock Buzz) finance arm widened on Wednesday after a Deutsche Bank analyst cut GE's earnings estimate to reflect deterioration at the finance business.
The cost of annually insuring $10 million of General Electric Capital's debt over a five-year period with credit default swaps rose to 626 basis points, $626,000 a year, up from 562 basis points late on Tuesday, according to data from CMA DataVision.
Deutsche Bank cut GE's 2008 earnings per share estimate by 9 percent to $2. For details see [ID:nWNAB4233]. (Reporting by Dena Aubin, Editing by Walker Simon) (email@example.com; +1-646-223-6325; Reuters Messaging: firstname.lastname@example.org))