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This pick is about:
GE
| Rating: |
$32.3 (04/11/08)
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| Closed: |
05/20/2008
@ $31.79
(-1.58%
in
39 days)
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| Target: |
$40.00
(+23.84%)
in > one year
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| Allocation: |
1.4% of portfolio
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Even though GE also lowered its full-year earnings guidance, and its second-quarter forecast fell short of analysts' expectations. Shares of GE ( GE , Fortune 500 ) - a Dow Jones industrial average component - tumbled about 12% in Friday trading, and the results sent the stock market tumbling. GE reported net income fell 6% to $4.3 billion after reporting income of $4.6 billion in the first quarter of 2007. Earnings from continuing operations were 44 cents per share, down from 48 cents per share a year earlier and well below the 51-cent-a-share consensus forecast of analysts polled by Thomson Financial.
"While we are disappointed with our results, the fundamentals of our businesses are strong," Immelt said . "Nevertheless, we failed to meet our expectations." 
I'm very confident that GE will deliver good results for quarters going forward and this is a good opportunity to buy GE stock.
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SocialPicks Sentiment on GE:
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