Shares of General Electric Co. tumbled 3.1% in afternoon trade Friday, as they headed toward their lowest close since Dec. 28, 2012. The stock has now plunged 13.4% this week, which would be the biggest weekly loss since it plummeted 17.0% the week ending March 6, 2009, at its Great Recession bottom. The selloff comes after GE surprised investors last Friday by reporting earnings that missed estimates for the first time in 2 1/2 years. On that day, the stock had sold off sharply at the open, then bounced to close with the first post-earnings gain in eight quarters. New CEO John Flannery said he will outline his plan to turn the company around, which is expected to include asset sales and a likely dividend cut, at the investor gathering scheduled for Nov. 13. The stock has shed 34.6% year to date, while the Dow Jones Industrial Average has climbed 18.5%.
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