Shares of General Electric Co. (GE) sank 5.2% in premarket trading, after the Madoff whistleblower alleged the industrial conglomerate has made fraudulent financial filings in an effort to mask its problems, according to a report in The Wall Street Journal ( ). The stock, which is on track to open at the lowest level seen during regular-session hours since Jan. 30, and is also headed toward the 10th decline in the 12 sessions since it reported second-quarter results. The stock has shed 14% over the previous 11 sessions. GE's stock has lost 12.0% over the past three months through Wednesday but was still up 24.1% year to date, while the Dow Jones Industrial Average has slipped 0.7% the past three months and gained 9.2% this year.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
August 15, 2019 09:22 ET (13:22 GMT)
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