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General Electric's unexpected drop in first-quarter profit rattled Wall Street, but it also shook the confidence of market pros who follow the company.
Stock fell sharply Friday after General Electric missed earnings expectations, consumer confidence hit a 26-year low and U.S. import prices rose more than expected.
Well, it could have been a lot worse--while certain financials and industrials are weak, the damage could have been a lot worse from GE's miss. Note that United Technologies' CEO George David tells Reuters he is "quite comfortable" with their full year profit target.
NBC Universal's first-quarter performance fell far short of parent General Electric's expectations, again raising questions over whether the broadcast network belongs within the industrial conglomerate.
General Electric's earnings miss was a "bump in the road" that will be overcome as the industrial bellwether sheds poor-performing businesses and the economy improves, CEO Jeff Immelt said on CNBC.
General Electric's unexpected drop in first-quarter profit is the biggest shock yet to American industry from the credit crisis. It's also seen as the latest sign the U.S. economy may be in a recession.
If you think options are a good indicator of future stock movements, you may want to keep an eye on the big cap techs and financials, according to two experts.
GE surprised the street this morning with an unexpected 6% drop in first quarter profits. EPS missed by 7 cents a share. As a result, GE opened this morning down about 11%. If this holds, this will be the biggest one day drop for GE since the 9/11 attacks.
The yen rose broadly after a fall in industrial conglomerate General Electric's quarterly earnings stoked fears about the health of the US economy, causing investors to dump riskier trades.
GE reported first quarter earnings of $0.44, below the $0.51 consensus and $0.50-$0.53 guidance. Full year guidance was cut to $2.20-$2.30 from $2.42. Down 11 percent pre-open. This was the biggest miss most analysts can remember; certainly the biggest miss in over a decade.
GE announced today first quarter 2008 earnings from continuing operations of $4.4 billion with $.44 per share, down 8% from first quarter 2007. First quarter 2008 net earnings were $4.3 billion or $.43 per share, down 2% from first quarter 2007. First quarter revenues from continuing operations were $42.2 billion, up 8%.
European stocks ended down 1.4 percent on Friday, their biggest one-day drop since mid-March as a profit warning by General Electric rattled investors and cemented the view that the US economy was tipping into recession.
GE and the G7 -- two big stories for the markets Friday with the dollar as a common theme. First, General Electric releases earnings before the open.
Some say, “As goes GE so goes the economy.” With earnings due out Friday morning, what should you expect?
It's hard to get more diverse than General Electric: jet engines, high finance, even business news websites (i.e., this one). For that reason, its quarterly report gives an insightful look into how the rest of earnings season may turn out.
While passing the Olympic torch has become a focal point for demonstrations over China's human rights record, major sponsors of the games aren't expected to flame out over the controversy.
Dow Jones has created a Summer Games Index to track the companies involved in the Olympics. How is it reacting to the protests?
The news was not particularly good today, and so a modest drop was certainly a decent performance. Consider: 1) semis weak on AMD's poor guidance 2) materials mixed on Alcoa below estimates 3) Fed minutes full of concern about economic slowdown
Warren Buffett ranks number one on Directorship magazine's new list of the most admired board directors. Its Annual Survey of Exceptional Directors is compiled using "data from proxy firms, reader polls and governance experts."
Stocks finished flat Monday as traders opted to pull over and let some of the earnings traffic pass before deciding what to do next.