Profit Taking Hits GE After Dull Earnings (GE)

Posted in pre-market 
October 16th, 2009

General Electric Co. (NYSE: GE) posted earnings that beat Thomson Reuters consensus figures on the surface: $0.27 EPS vs $0.20 estimates, but this translates to a 44% drop in profits.  Revenue was down 20% at $37.8 billion vs. estimates of $39.5 billion.  The problem continues continues to be GE’s finance unit and reports of a potential fatality issue from its MRI dye are not helping. At 8:27 AM EST we have shares trading down 3.6% at $16.19, but volume is still rather calm at 1.4 million shares.  Average volume is about 100 million shares.  As a reminder, today is also options expiration date.

JON C. OGG
OCTOBER 16, 2009

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