Recent News: More News about earnings dissapointment

GE LIGHTS OUT
Wall Street took it on the chin yesterday after conglomerate General Electric shocked the market with its first profit decline in years - and then wreaked further havoc when it lowered its full-year forecast. The results proved that even the all-powerful GE - whose businesses range from aircraft engines to medical devices to cable TV networks - wasn't immune to the credit crunch that has been rocking the financial sector since last summer...

GE: Immeltdown?
Investors aren't taking kindly to the earnings miss General Electric announced Friday morning. The company reported 44 cents vs. 48 cents a year ago and a consensus estimate of 51 cents. The stock is off by 12% at this time; since Jeff Immelt took over as CEO in 2001, it has fallen by nearly 20%, in a stock market that's up by 19% over the same period....

What Went Wrong at GE?
I won't go into detail because all the punditude doing that... But what I haven't heard from the punditude is the fact that GE is known for having the most managed earnings stream on the street... this never happens with them. So what changed all of the sudden? How much did things slow? Remember this is a company where insiders were buying hand over fist 1-2 months ago... So how sharply did things slow that last month?...

GE Falling Sharply - Time to Buy?
Sellers of mega blue chip General Electric are dominant in active pre-open and early regular session trading on the heels of a surprisingly weak earnings report from the conglomerate....

Stocks Plunge as GE Disappoints
Stocks plunged on Friday after General Electric reported much weaker than anticipated results, and lowered its earnings forecast for 2008, and consumer sentiment fell to a 26-year low...

Lessons of G.E.
Pondering the G.E. earnings miss yesterday leaves me with a handful of observations:
The economic downturn is accelerating. As Kathleen Shanley of Gimme Credit writes, “If there is another company that is as close a proxy for the overall economy as General Electric, we’re not aware of it.”...

Recession on: GE results flag
GENERAL Electric Company - the second-largest US company by market capitalisation - posted an unexpected 6 per cent drop in first-quarter profits on Friday, the biggest shock yet to an American industrial bellwether from the credit crisis and the latest sign the US economy may be in a recession....

Stocks fall sharply following GE results
Wall Street stumbled Friday after a disappointing first-quarter report from General Electric Co. surprised the market and stoked concern about the health of both corporate profits and the wider economy. The major indexes fell more than 2 percent, with the Dow Jones industrials giving up more than 250 points...