A Giant Miss

GE never misses its numbers. In fact, they are famous for making earnings estimates. Skeptics have long studied them for their earnings management techniques. Today, they missed and by a fair margin. The result sent all indexes into the red. Large-caps fell about 2%, while NASDAQ dropped around 2.6%. Of course, the miss was related to their financial services business. No surprise there, but most investors figured the famous GE would find a way around that pitfall. Wall Street took the news hard. DJIA -256.56 NASDAQ -61.46 S&P 500 -27.72