We gotta have a war with Iran.....GE's Earnings are Dropping!!!

[marmar]

from MarketWatch:



General Electric's quarterly earnings drop 6%
'Burdened' U.S. consumer cited; company affirms 2008 profit outlook
By Christopher Hinton, MarketWatch


NEW YORK (MarketWatch) -- General Electric Co. said Friday second-quarter earnings fell 6% from a year ago, reflecting continued challenges for the U.S. consumer tied to an imploding housing market, inflation and volatile capital markets.

Nonetheless, the financial results came as relief to investors, following an unprecedented miss for the first quarter when the near-collapse of Bear Stearns roiled the industrial conglomerate's financial segment, which makes nearly half of its business.

GE, a member of the Dow Jones Industrial Average, saw its shares add a fraction in premarket trading to $27.80. The stock's now up about 6% from a five-year low struck June 27.

In the latest quarter, the Fairfield, Conn.-based industrial giant said it earned $5.07 billion, or 51 cents a share, down from $5.38 billion, or 52 cents, in the year-earlier period.

With businesses in aircraft engines, oil-drilling equipment and wind turbines, GE said revenue for the quarter rose 11% to $46.89 billion.

GE took $400 million in restructuring charges during the quarter. On an adjusted basis, GE said it would've earned 54 cents a share, flat on a year-on-year basis.

Analysts polled by FactSet Research had expected, on average, second-quarter earnings of 54 cents a share as well as revenue of $45.3 billion.

Despite what appeared to be a solid quarter, GE warned that U.S. economy and a burdened consumer continue to weigh on its business, though growth in emerging markets remain a strong point. ...........(more)

The complete piece is at: http://www.marketwatch.com/news/story/general-electrics-earnings-drop-6/story.aspx?guid=%7B273B309C%2DAF84%2D4E94%2D9501%2D1D6A69E8C632%7D

[TNDemo]

1. Maybe their stock would go up if they stopped making crap.

You used to be able to buy quality but apparently not any more.

[Kolesar]

2. I bought GE stock because they produce wind turbines

I have to put my earnings somewhere, after all.

[Angela Shelley]

3. The connection between GEs earnings

and killing mass numbers of innocent people might attract attention, but only promotes support for the horrible act of war.

There is no logic in the decision to attack another country.

Peace.