WEATHER ALERT
GE aviation and energy businesses start trading on NYSE, marking the end of the conglomerate
Read full article: GE aviation and energy businesses start trading on NYSE, marking the end of the conglomerateGeneral Electric has completed its split of the one-time conglomerate into three separate companies, as its aerospace and energy businesses started trading on the New York Stock Exchange as separate entities on Tuesday.
General Electric's 3Q adjusted profit surprises Wall Street
Read full article: General Electric's 3Q adjusted profit surprises Wall StreetGeneral Electric narrowed its losses in its third quarter as it trimmed expenses and managed to post an adjusted profit that surprised Wall Street. GE lost $1.19 billion, or 14 cents per share, for the three months ended Sept. 30. Earnings, adjusted for one-time costs and asset impairment costs, were 6 cents per share. For the year to date, it has reduced debt by $11.7 billion, including $8.1 billion in GE Industrial debt and $3.6 billion in GE Capital debt. Quarterly revenue declined to $19.42 billion from $23.36 billion, but still topped the $19.15 billion that analysts predicted.
GE stock has worst day in 11 years
Read full article: GE stock has worst day in 11 years1892: The General Electric Company is formed by the merger of Edison General Electric Company and Thomson-Houston Electric Company. NEW YORK - General Electric fought back Thursday night after the company was accused of fraud and its stock experienced its worst one-day percentage drop since April 2008. Culp's ownership of GE stock nearly doubled this week after an earlier purchase Tuesday. Markopolos said in a report released Thursday that GE was hiding nearly $40 billion of losses in its insurance business. He said this is the largest case of accounting fraud he and his team have investigated.