Kinahan: General Electric's Big Move May Skew Earnings Trade

big stock price move since its divestiture and buyback announcement of last week could mute any action following its earnings release, JJ Kinahan told Benzinga. "That may skew a little of their earnings trade," Kinahan, managing director and chief trading strategist for

, told Benzinga Thursday. GE shares are up roughly 8 percent since Friday, when it announced a two-year plan to divest its GE Capital unit and also announced a $50 billion buyback. The Fairfield, Connecticut-based company changed hands recently at $27.33, down $0.13. Analysts on average expect the company to post first-quarter earnings of $0.30 a share, on revenue of $34.32 billion. Kinahan noted "quite a few" May $29 calls trading recently. As of Tuesday, the May $29 calls had traded more than 20,000 contracts, according to

.