General Electric (GE) NewsBite - GE Q3 Revenue Disappoints

Posted: Friday, October 16, 2009 9:54 AM EDT

General Electric (NYSE: GE) opened at $16.35. So far today, the stock has hit a low of $16.19 and a high of $16.41. GE is now trading at $16.35, down $0.45 (-2.68%). Over the last 52 weeks the stock has ranged from a low of $5.73 to a high of $21.04. GE reported earnings this morning, posting a third-quarter profit of $2.41 billion, or 23 cents per share, on revenue of $37.80 billion. Analysts had forecast a profit of 20 cents per share on revenue of $40.03 billion. Technical indicators for the stock are neutral and S&P gives GE a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on GE the stock seems like it could be a candidate for a December out-of-the-money bear-call credit spread above the 18 range. [ABR-Seven Summits Strategic Investments NewsBite]

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