GE's stock falls toward 2-month low, as it paces Dow's losers
Shares of General Electric Co. slid 2.1% toward a two-month low in afternoon trade Thursday, enough to pace the Dow Jones Industrial Average's decliners. Earlier Thursday, France's Minister of the Economy Bruno Le Maire said in a statement that he deeply regrets that GE Chief Executive John Flannery told him it would not be possible for the industrial conglomerate to honor the hiring commitment made when GE bought Alstom SA's energy assets in 2015. The commitment was to create a net 1,000 jobs by the end of 2018, but GE had only created 323 net jobs as of the end of April. The stock, on track to close at the lowest level since April 16, has tumbled 22% year to date, while the Dow has gained 1.8%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.