GE trims profit outlook on Europe weakness; stock slumps

Home Forums GE trims profit outlook on Europe weakness; stock slumps

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    Anonymous

    Technology News

    A GE logo is seen in a store in Santa MonicaBy Ernest Scheyder (Reuters) – General Electric Co warned of slowing profit growth in its industrial businesses due to weakness in Europe and sliding turbine sales, unnerving Wall Street and pushing its stock down in morning trading. The conglomerate, the world's biggest maker of jet engines and electric turbines, said on Friday it expects industrial profit to rise by high single digits to double digits this year. Previously it had forecast double-digit growth. …


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