Boy, GE really took the wind out of the market’s sail. The bellwhether conglomerate missed earnings estimates and lowere its full year outlook. Most of the shortfall seems to have come from the finance unit and related difficulties. But the stock is getting whacked for -11%, its biggest one-day drop since October 1987.And given that GE is one of the biggest market caps in the market, it is really weighing on the overall market. The silver lining of this mornings action is that the financials trade dry, meaning that they are bucking the weakness. (see C[...]
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[Source: The Money Blogs]
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