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Current DateTime: 04:55:09 28 Nov 2009
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Apr.11
10:28 AM ET

GE, General Electric earnings

GENERAL ELECTRIC [GE  Loading...      ()   ] 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
DateDay% Change
10/19/1987Mon-17.5
9/17/2001Mon-10.7
3/12/2001Mon-9.6
4/11/2002Thu-9.3
1/2/2001Tue-8.7
10/26/1987Mon-8.6
8/23/1974Fri-8.4
1/8/1988Fri-8.2
9/27/2002Fri-7.3
8/31/1998Mon-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  Loading...      ()   ].  Also leading the Dow to the downside this morning are Disney [DIS  Loading...      ()   ], 3M [MMM  Loading...      ()   ],  United Technologies [UTX  Loading...      ()   ], and American Express [AXP  Loading...      ()   ].

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Current DateTime: 01:06:31 28 Nov 2009
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