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Industrial and financial conglomerate General Electric Co. (GE - FusionIQ Master Score of 26) announced today that its profit fell 6 percent in the second quarter, and that it has agreed to sell its Japanese consumer finance business for $5.4 billion. Fairfield-based GE earned $5.07 billion, or 51 cents per share, compared with a year-earlier profit of $5.38 billion, or 52 cents per share.
Revenue rose to $46.89 billion from $42.38 billion a year earlier. On the basis of continuing operations, GE said it earned $5.39 billion, or 54 cents per share. Thomson Financial says analysts expected the company to report earnings of 54 cents per share on revenue of $45.31 billion.
With a terrible looking chart and a low FusionIQ score of 26 GE still looks like a name to avoid.
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