UPDATE 2-GE pulls forecast on coronavirus, but backs first-quarter cash flow [Reuters (UK)]
General Electric Company (GE)
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Source: Reuters
GE pulls forecast on coronavirus, but backs first-quarter cash flow - Reuters 2 Min Read (Reuters) - General Electric Co ( GE.N ) pulled its full-year forecast on Thursday due to the uncertainties created by the coronavirus outbreak, but backed its first-quarter industrial free cash flow expectation of near negative $2 billion. Shares of the company, which reaffirmed its annual forecast just little over a month ago, rose as much as 3.2% to $7.54 in morning trading. “With net proceeds of about $20 billion from the BioPharma transaction now in hand, we have more flexibility to de-risk and further strengthen our balance sheet,” Chief Executive Officer Larry Culp said in a statement. GE last month sold its biopharma business to Danaher Corp ( DHR.N ) to focus on its core aviation and power businesses. The announcement comes days after customers Boeing Co ( BA.N ) and Airbus SE ( AIR.PA ) halt or lower production of jets as airlines cancel flights and layoff staff amid a virtual ha
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- 12/3/25 - Form 4
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- 12/3/25 - Form 4
- GE's page on the SEC website