General Electric Co. lost its AAA rating from Moody’s Investors Service for the first time in 40 years less than a week after GE said its finance unit would post a profit during the global recession and credit crunch.
Moody's Investor Service cut General Electric Co's top-tier credit rating by two notches -- deeper than rival Standard & Poor's downgrade -- and said its outlook on the biggest U.S. conglomerate is now stable.
Stocks slid on Friday as the Federal Reserve's plan to rekindle consumer and small business lending fell short of expectations and General Electric was hit by analysts' bearish comments.
Stocks fell on Friday as a Federal Reserve's plan to rekindle consumer and small business lending fell short of expectations and General Electric was hit by bearish analyst comments.
General Electric Co shares fell 4 percent on Friday as analysts lowered their 2009 profit forecasts for the U.S. conglomerate, a day after a marathon six-hour briefing on GE's financing unit.
General Electric Co's hefty finance arm expects to be profitable this year even though the economy may drive its profit down, nearer to $2 billion to $2.5 billion than to a $5 billion figure it gave in December, a top GE executive said on Thursday.
By Scott Malone
General Electric Co expects its GE Capital finance unit to be profitable in 2009, the U.S. conglomerate's chief financial officer said on Thursday.
Sony and Comcast are working together to open a unique co-branded retail experience in the Comcast Center: Sony Style Comcast Labs.
With General Electric Co having gone through a very volatile year so far, and shares at $10, the question of whether to buy or sell hinges on two factors.
Shares of General Electric Co rose above $10 on Monday for the first time in almost a month after an analyst at UBS lifted a short-term sell rating from the stock.
The three-day run-up in U.S. stocks on Thursday is bringing desperately needed relief for bruised investors, but the bounce off 12-year lows is stoking fears that it may be a little too rapid to be sustainable.
Stocks rose for a third day on Thursday on relief that a ratings cut by S&P in General Electric was just one notch and that no further cuts loomed, while retail sales data showed some stabilization in consumer spending.
General Electric Co was stripped of its AAA credit rating by Standard & Poor's, which cited the performance of GE's finance unit, but its shares rose 12.7 percent as investors breathed a sigh of relief the cut was not deeper.
Stocks rose for a third day on Thursday on relief that a ratings cut by S&P in General Electric was just one notch and that no further cuts loomed, while retail sales data showed some stabilization in consumer spending.
Stocks rallied for a third day on Thursday on relief that a ratings cut by S&P in General Electric was just one notch and no further cuts loomed, while data showed signs of stabilization in consumer spending.
Stocks rose for a third day on Thursday on relief that a ratings cut by S&P in General Electric was just one notch and that no further cuts loomed, while data showed some stabilization in consumer spending.
U.S. stocks climbed for a third day on Thursday, rising more than 2 percent to session highs after Standard & Poor's cut General Electric's ratings by just a single notch and signaled no further downgrades loomed, while data suggested some stabilization in consumer spending.
U.S. stocks gained for a third day on Thursday on relief that S&P cut General Electric's ratings by just a single notch and signaled no further downgrades loomed, while data suggested some stabilization in consumer spending.
Stocks rose for a third day on Thursday after Standard & Poor's cut General Electric's credit rating by just one notch below AAA and signaled no further downgrades loomed while data suggested some stabilization in consumer spending.
Standard & Poor's stripped General Electric Co of its top-tier, triple-A credit rating, lowering its rating by one notch to AA-plus with a stable outlook, citing the credit profile of the GE Capital unit.
Shares of General Electric Co soared 15.9 percent on Tuesday amid a broad rally in U.S. stocks triggered by assurances from Citigroup Inc that the big bank was profitable through the first two months of 2009.