Top 5 Losers Today

3. General Electric Company (NYSE:GE)

Number of Hedge Fund Holders: 49

Shares of General Electric Company (NYSE:GE) slipped over two percent this morning following its weak third-quarter profit and revised outlook for the full year. The industrial giant reported adjusted earnings of 35 cents per share, down from 53 cents per share in the year-ago period and below the consensus of 50 cents per share.

On the bright side, General Electric Company (NYSE:GE) posted revenue of $19.1 billion, representing a surge of 3 percent over the corresponding period of 2021. Analysts were looking for revenue of $18.72 billion.

For fiscal 2022, General Electric Company (NYSE:GE) now expects adjusted earnings in the range of $2.40 – $2.80 per share, compared to its earlier projection between $2.80 – $3.50 per share.