The shares tumbled 3.1 percent to $25.87 at 10:59 a.m.in NY after dropping as much as 5.4 percent for the biggest intraday decline since August 2015.
It beat analyst expectations on adjusted profit, but cash flow was weak and GE said full-year profit and cash flow will be at the low end of its forecasts.
Revenue from its power business rose 5%, while health care rose 4% and aviation was flat.
GE has been under intense pressure to cut expenses and pledged in March to cut $1 billion in annual industrial expenses for each of the next two years, which is twice the level of cuts originally laid out. Sales declined 12 percent to $29.6 billion, compared with $29.2 billion expected by analysts.
Data courtesy of Trade-Alert
The renewable energy sector unit was the strongest for GE.
"We've reduced our Industrial structural costs year to date by $670 million and we are on track to meet or exceed our $1 billion cost reduction target for the year", Immelt said. Despite the beats, EPS declined from 51 cents in the prior-year quarter while revenue declined 12% from $33.49 billion for the same period.
GE's closely watched cash flow from operations fell 67 percent to $3.6 billion from a year ago, reflecting the loss of contributions from the appliances division that the company sold. The company reported a profit of $1.19 billion, or 15 cents a share, down from $2.76 billion, or 36 cents a share, a year earlier.
"The global scale of the company, along with our ability to innovate industry-leading products and services, will help us navigate the current environment and unlock productivity across our businesses and markets", added Immelt. He is set to be replaced as CEO by John Flannery on August 1. Immelt had promised that the metric would rebound after a surprise $1.6-billion plunge during the first three months of the year rattled shareholders. Immelt announced his resignation last month. On Thursday, it closed just below buy range and near the session low after setting a record high of 136.41.
Federal Reserve would likely to move slowly to continue raising interest rates in the absence of inflation signs. The measure of wireless phone costs fell 0.8 percent in June and is down 13.2 percent in the past year.
Ginobili's impact on the success of the Spurs , who have made the playoffs for 20 consecutive seasons, has transcended stats. Not many players reach the age of 40 and still play in the league, but Ginobili will hit that mark on the 28 of this month.
Payne was arrested and taken to Chamblee jail on charges of theft by shoplifting, then later released after posting bail. In December, Payne was arrested at an upscale mall in suburban Atlanta for allegedly stealing a necklace .
Scheer Rowlett & Associates Investment Management Ltd bought 367,465 shares as the company's stock rose 28.76% with the market. The stock of Dominion Diamond Corp (NYSE: DDC ) earned "Outperform" rating by RBC Capital Markets on Monday, September 14.
Frontier, known for distinctive photos of wild animals on each of its aircraft tails, last served Reno-Tahoe in September 2007. Along with the Islip announcement, Frontier also disclosed Tuesday it will add 21 destinations from its Denver hub.
British Foreign Minister Boris Johnson hit out at China for preventing Liu from seeking cancer treatment overseas . Supporters have also begun calling to be allowed to join Mr Liu's funeral and support his wife and family.
With 411 million pounds ($536 million) in sales past year , French's Foods accounted for 4 percent of Reckitt's total revenue. McCormick plans to fund the deal with a combination of equity and debt, and said it has obtained committed bridge financing.
The bills used a tallow, or hard, fatty substance usually made from rendered meat, as part of their base. It is also the first Bank of England note to include a tactile feature to help visually impaired people.
School District Funding Bill Comparison
Bruce Rauner says he'll issue an amendatory veto of Senate Bill 1 to remove a pension "bailout" for Chicago Public Schools. As districts across the state face the possibility of a delayed start to the school year this fall, Gov.
Presidential election begins in India
Counting of votes will take place on July 20 in New Delhi where all the ballot boxes will be brought from various state capitals. Lok Sabha Secretary General has been appointed returning officer for the presidential election.
Andromeda Gets A Free, Lengthy Demo And A New Trailer
BioWare has announced that you'll be able to download and play the first 10 hours of Mass Effect Andromeda for free. If you opt to purchase your progress in single and/or multiplayer will be carried over to the fully enabled game.
Qatar Airways to launch new service to Ukraine
The decision "is an extension of our stance against illegal subsidies these carriers receive from their governments", it said. Etihad accused American for being anti competitive and anti consumer and was very disappointed with this decision.