GE Tumbles After Profit-Margin Forecast Trails Forecast
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General Electric Co. fell the most in seven months after Chief Executive Officer Jeffrey Immelt failed to deliver a profit-margin forecast that he had been repeating for more than a year.
GE dropped 2.3 percent to $26.58 in New York, the second biggest decline among industrial companies in the Standard & Poor’s 500 Index. Profit margins at GE units making jet engines, medical scanners and locomotives expanded last year by less than the 70 basis points, or 0.7 percentage point, that Immelt set as a goal in December 2012 and affirmed last month.