General Electric, GE, Shares Tumble on Sagging Revenues

July 18, 2010 Updated: July 19, 2010

General Electric Co., one of the country’s biggest conglomerates, saw its stock tumble more than 4.5 percent last Friday on weaker-than-expected quarterly revenues. Revenues fell 4.3 percent to $37.4 billion, which trailed analyst expectations. Revenues declined at GE’s finance, technology, and energy business units.

The company is a major producer of jet engines, machinery, medical imaging equipment, and power-plant turbines. “We’re still positioned for attractive earnings growth in 2011,” GE Chief Executive Officer Jeffrey Immelt said in a conference call with analysts.