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GE sinks after CEO says he sees no growth in its power business

5 monthes ago   |   By

Markets Insider
General Electric CEO John Flannery said he expects the company's power unit to continue to struggle.
The unit posted a 38% drop in profits last quarter.
Follow GE's stock price in real-time here.
Shares of General Electric sank more than 7% Wednesday, their biggest drop in nine years, after CEO John Flannery said he expects the company's power business to "remain weak through 2020."
His comments were from a presentation, Reuters reported, in which Flannery said "he sees no profit growth at the large GE power business this year." See the rest of the story at Business Insider...
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