Monday, April 14, 2008

Recent News: Earnings Miss

US open: GE figures instigate sell-off
Wall Street is heavily lower after poor figures from General Electric raised concerns about broader corporate earnings...

GE Plunges as Profit Misses Estimates, Forecast Cut (Update9)
General Electric Co. slumped the most in more than two decades after profit unexpectedly fell and Chief Executive Officer Jeffrey Immelt cut the company's annual forecast just a month after pledging to meet it...

For GE, the world is not enough
So much for a weak dollar and stronger global economy helping to lift results for large multinational companies like General Electric. GE did report that international sales grew 22% in the first quarter and that revenue from developing countries soared 38%. But that was not enough to save GE from reporting total sales and earnings that missed analysts' forecasts....

Drop in GE profit jolts market
An unexpected drop in first-quarter profit at General Electric (NYSE: GE) caught the market by surprise Friday which in turn caused stocks across the Big Board to tumble....

Midday Market Update: GE Misses the Mark and Sends Stocks Lower
.S. stocks posted their biggest decline in two weeks early today (Friday) after an unexpected profit decline by General Electric Co. (GE) reignited worries that the credit crunch is causing more damage than investors realize....

GE shocks with profits warning
GE, the US industrial conglomerate and one of the world’s largest companies, today issued a shock profits warning that it would miss full-year forecasts. Jerome Heppelmann, portfolio manager at Liberty Ridge Capital, told Reuters: “It’s confirmation that we’re in a recession.” ...

4th UPDATE: GE Stuns Market As Profits Fall Short
General Electric Co. (GE) reported a stunning 5.8% drop in first-quarter net income amid weakness in its sprawling financial-services operations and issued a disappointing forecast for the rest of the year, delivering another blow to markets already concerned about a U.S.-led economic slowdown....

Moooy's affirms GE's ratings following 1Q earnings miss
Moody's affirmed General Electric Co.'s ratings following the Fairfield, Conn.-based diversified industrial giant reported first-quarter earnings well below Wall Street expectations...

0 comments: