General Electric (GE) shares drop 4% in premarket after Q4 loss
General Electric (GE) shares slumped in Tuesday's premarket after the industrial conglomerate reported a Q4 loss for common shareholders of $3.9 billion. The storied corporation, in the midst of a broad restructuring, missed revenue estimates by $1 billion. GE had revenues of $20.3 billion, down 3.5% from a year ago.
Before this morning's sell-off, GE stock had been up 0.7% year to date compared to the S&P 500's 8.1% loss. At the time of writing, shares are trading at $92.99 for a loss of 4%.
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Author
Clay Webster
FXStreet
Clay Webster grew up in the US outside Buffalo, New York and Lancaster, Pennsylvania. He began investing after college following the 2008 financial crisis.
