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General Electric: Biggest Fall Since 9/11


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:

10 Biggest One Day % Drops of GE

% 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 . Also leading the Dow to the downside this morning are Disney , 3M , United Technologies , and American Express .