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General Electric Co. (GE.N), the company's revenue exceeded badysts' estimates and the manufacturer announced a settlement with the US Department of Justice of $ 1.5 billion related to its legacy mortgage business. risk.
CEO Larry Culp said the company's "strategy is clear: reduce our balance sheet and strengthen our business, starting with power."
The stock initially jumped more than 5% in the earnings report and briefly turned negative before recovering as investors digested the mixed results. Fourth quarter adjusted earnings per share did not meet expectations, while the struggling power sector saw its revenue drop by 25%.
Nevertheless, the options market expected a greater movement of shares of the struggling multinational, with a rise of up to 9.7%.
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