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GENERAL ELECTRIC [GE
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] 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:
10 Biggest One Day % Drops of GE |
| Date | Day | % Change |
| 10/19/1987 | Mon | -17.5 |
| 9/17/2001 | Mon | -10.7 |
| 3/12/2001 | Mon | -9.6 |
| 4/11/2002 | Thu | -9.3 |
| 1/2/2001 | Tue | -8.7 |
| 10/26/1987 | Mon | -8.6 |
| 8/23/1974 | Fri | -8.4 |
| 1/8/1988 | Fri | -8.2 |
| 9/27/2002 | Fri | -7.3 |
| 8/31/1998 | Mon | -6.8 |
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 [.DJIA
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]. Also leading the Dow to the downside this morning are Disney [DIS
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], 3M [MMM
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], United Technologies [UTX
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], and American Express [AXP
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].
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Data is a real-time snapshot *Data is delayed at least 15 minutes