Oct
16
Written by:
Steve Patterson
10/16/2009 2:03 PM
General Electric (GE) Falls after Earnings
General Electric Co (GE) fell on Friday after it released it’s most recent quarterly earnings. The mid-day decline was near 4.25% from the prior days close of $16.79 share. The profit for GE declined 44% from the previous year’s period as GE Capital struggled and revenue also declined 20% as jet engines, MRI machines, and other items saw weak orders.
GE Capital
The company said in their conference call that the revenue fall can be attributed to their downsizing of GE Capital mostly. The action of General Electric in addition to Bank of America caused some caution to arise in investors that had celebrated good earnings news from JP Morgan Chase and Goldman Sachs just yesterday.
Earnings Expectations
Revenues are expected to fall another 8.5% in the fourth quarter with earnings dropping 33% compared to the fourth quarter in 2008. Analyst are not anticipating any improvement in the numbers as they have held steady in their assessment for some time. The company had surprised to the upside the past two quarters which makes this quarter even more disheartening.
GE Trade
I would not be a holder of GE at this time as its stock price has increased from 10.78 in July to 16.79 just yesterday. If you currently holding the stock this would be a good time to take some of the profits you have made during this recent run-up.
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11 comment(s) so far...
Re: General Electric (GE) Falls after Earnings
I am glad I dumped my shares six months months ago....
By Minneapolis Web Design on
10/18/2009 10:24 AM
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Re: General Electric (GE) Falls after Earnings
bad news Steve! however, I think it will gain back soon...
By Options Calendar on
10/18/2009 9:22 PM
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Re: General Electric (GE) Falls after Earnings
This year doesn't seem to be a very happy one for GE!
By Prague Guy on
10/19/2009 4:20 PM
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Re: General Electric (GE) Falls after Earnings
Appears the trend will continue unless something significant happens...
By Wealthy Affiliate on
10/20/2009 2:03 PM
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Re: General Electric (GE) Falls after Earnings
2009 its one of the worst years..not only for GE..
By ashley Free Bets on
10/26/2009 11:03 AM
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Re: General Electric (GE) Falls after Earnings
Wow, never new this info till I read your article
By OweEng2 on
10/29/2009 11:56 PM
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Re: General Electric (GE) Falls after Earnings
My understanding is that this is going to get worse before it gets better.
By Kirsten on
11/3/2009 3:22 AM
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Re: General Electric (GE) Falls after Earnings
this is situation will get worse..i dont see any prospects of betterment in the near future
By Online job resume samples on
11/25/2009 1:31 AM
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Re: General Electric (GE) Falls after Earnings
This year doesn't seem to be a very happy one for GE!
By oyuncak toptan on
11/27/2009 5:15 AM
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Re: General Electric (GE) Falls after Earnings
yeah its been a rough year for a lot of companies .. hope this new year that's around the corner could fresh things up..
By jess@Menswear on
11/27/2009 11:31 AM
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Re: General Electric (GE) Falls after Earnings
Everything is down. Sad. The whole economoy is sad right now.
By dan on
12/28/2009 4:31 PM
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