Why Shares in General Electric Jumped Today
Shares in General Electric (NYSE: GE) were up by almost 5% by midday. The move comes as the market digests the company's earnings report the day before.
It's not that the results were excellent overall. Management maintained its expectation for full-year revenue growth toward the low end of its guidance range of high single-digit growth and lowered its full-year adjusted earnings-per-share (EPS) guidance to $2.40 to $2.80 from its previous range of $2.80 to $3.50.
Moreover, GE HealthCare's segment profit guidance was cut to "at least" $2.6 billion from previous guidance for $3 billion. Meanwhile, GE Renewable Energy is now expected to lose a whopping $2 billion in 2022.
Source Fool.com
