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GE Is Crashing

Courtesy of ZeroHedge. View original post here.

The pre-market buyers of last resort, hoping that GE just kitchen-sinked by slashing its dividend by 50%... are in trouble.

Everything was fine until CEO Flannery started speaking…

  • *GE TO BORROW $6 BILLION FOR PENSION CONTRIBUTION, CEO SAYS
  • *GE CEO: ALSTOM ACQUISITION PERFORMING BELOW EXPECTATIONS
  • *GE CEO: GE POWER EXACERBATED ITS PROBLEMS W/POOR EXECUTION
  • *GE CEO SEES `LIMITED' M&A IN THE NEAR TERM
  • *GE CEO: NEW, SIMPLER EARNINGS METRICS TO FOCUS ON CASH

The company also announced that it expects adjusted earnings of $1.00 to $1.11 per share for 2018, which was lower than Wall Street's expected $1.18.

And shareholders pulled the plug…

Sell the rumor, sell the news?


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