GE's stock falls to pace Dow's few losers after update to effect of accounting changes
Shares of General Electric Co. (GE) slumped 1.6% in morning trade Monday, to pace the Dow Jones Industrial Average's decliners, after the industrial conglomerate revealed retrospective financials for additional disclosures regarding new accounting rules for revenue recognition. Meanwhile, the Dow was up 214 points with only three of the Dow's 30 components declining. GE's stock was by far the worst performer, as the next biggest decliner was Walt Disney Co. (DIS) shares, which eased just 0.1%. What was notable from the GE's late-Friday release (http://www.marketwatch.com/story/ge-stock-falls-after-release-of-revenue-recognition-information-2018-04-13) of the financials update was a 17 cents-a-share decline in 2017 earnings, compared with a prior estimate of 16 cents-a-share decline. GE's stock has tumbled 23.9% year to date, while the Dow has eased 0.6%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
April 16, 2018 10:43 ET (14:43 GMT)
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