Should I be buying GE stock. When to buy GE stock in 2009. There has been a lot of speculation on should you be buying General electric stock for the long term . And Also . What will happen to GE stock. GE stock advice. On to buy or sell GE stock is of major concern since no one wants to be left out of the next big turnaround play when the recession is over and the economy recovers. Is it a good time to invest in GE stock.
General Electric warned investors that the economic contagion that has swept the financial and media businesses expanded to their industrial units, urging its CEO Jeff Immelt reduced its forecast of earnings for those businesses. Shares of GE, the largest U. S. conglomerate, fell 6.05% after it reported a profit that surpassed Wall Street estimates, but a drop in income of 17 per cent which was higher than what analysts predicted. Previously, GE had projected earnings of these units were stable or rising from 5 percent. The results of all the businesses of GE fell, except for its power producing capability, which manufactures turbines for generating electricity and equipment used in the production of oil and gas. GE reported net earnings for the second quarter of 2.670 billion dollars, or 24 cents per share, versus profit of $ 5.070 million, or 51 cents per share, in the same period last year. Earnings from continuing operations were 26 cents per paper. Revenues fell 17%, while analysts expected a drop of 10 per cent. is it smart and a good idea to invest In General electric stock.
However there is a strong long term forecast for GE Capital, predicting that it could be profitable, noting that the profits of consumer and industrial unit of GE would be stable. The last 17 months have been hard for investors in GE, which have seen profits fall, the administration cut the quarterly dividend by 68 percent, and Moody's Investors Service and Standard & Poor's removed the rating 'AAA' credit to of the company. . It will be interesting to see how CNBC reports on whether you should buy or sell GE stock , general electric is the parent company of CNBC by the way.
