GENERAL ELECTRIC 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.
Only twice in its history has GE lost more than 10% in a single day - The first time was on Black Monday in 1987, and the second was the day the markets opened after the 9/11 attacks. Here are the 10 biggest one day percentage drops in GE's history:
GE has only fallen more than 5% in a day 45 times in its 100+ year history, the last time being in October 2002. The good news is that it rebounds relatively quickly after a big fall. On average, GE has been up
- 4.2% one month later
- 5.3% three months later
- 11.4% six months later
- 12.4% one year later
GE's decline is weighing heavily on the Dow . Also leading the Dow to the downside this morning are Disney , 3M , United Technologies , and American Express .