General Electric Co.’s stock shed 1.9% in active midday trade Monday, putting on track to close at a 5-year low, and suffer the second 6-session losing streak this month, in the wake of industrial conglomerate’s disappointing third-quarter results. The stock has now plunged 14.4% over the past six sessions, the worst six-session performance since it tumbled 14.7% during the six-day stretch ending June 22, 2009. The last 6-session loss streak ended Oct. 13, but the shares had lost just 6.4% during that stretch. The stock, which is headed toward the lowest close since Nov. 16, 2012, has been the worst performer among Dow Jones Industrial Average components this year, as it has dropped 35.5% while the Dow has gained 18.1%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News