General Electric Drops Sharply After CEO Says It Will Keep Burning Cash Unlisted Video
5 years ago
2
According to Business Insider, General Electric dropped more than 7% on Tuesday afternoon, following comments from CEO Lawrence Culp, which said he sees the company having a negative industrial free cash flow this year. At a JPMorgan conference, Culp said GE's cash flow will be in "negative territory." Culp added that the company is embracing the reality that its power unit has been slow to adjust cost structure during its slump.
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