General Electric (GE) buried investors in bad news last week when the industrial company reported third-quarter earnings that came in way below expectations. General Electric not only slashed its earnings forecast by a significant margin but also guided for more asset sales. Uncertainty over General Electric's dividend is likely to do more damage to the company's stock price over the short haul.
It was not a good day for General Electric last Friday, and it certainly wasn't a good one for GE shareholders. The industrial company reported earnings that came in way below expectations, though revenues came in above consensus. General Electric said it earned $0.29/share in the quarter ending September which was significantly below consensus profit expectations of $0.49/share. The large profit miss was a big driver of volatility for GE's shares which slumped as much as 6 percent on Friday.
