General Electric’s (GE) stock out-performed the S&P over the days since it announced earnings, but that took a turn midday yesterday. At that point, GE dropped sharply below the index and opened well below it today.
To put a point on it, the rally has left GE behind.
Nothing has really changed. The earnings were the earnings and the guidance is the guidance. But, there is a part of Wall St. that still believes that some part of GE will underperform. It could be financial services, particularly if mortgage problems spread. It could be plastics, which already does poorly. It could be NBC Universal. TV and movie earnings are notoriously hard to predict.
GE is Fortune’s reigning "Most Admired" company. The conglomerate claims it is trying to better communicate with Wall St.
Maybe the senior management needs to rent an office next to the NYSE building.
Douglas A. McIntyre
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