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NEW YORK Don’t blame NBC Universal, but parent General Electric won’t earn nearly as much money this year as once thought, nor will the company buy back as much stock.
That double dose of bad news delivered Thursday, though, didn’t hurt GE shares. The stock enjoyed a powerful 4.4 percent rally, notching one of its strongest one-day gains this year.
Investors looked beyond the earnings warning and focused on what CEO Jeff Immelt had to say during an interview on the company’s CNBC network.
Immelt noted that the stock has been hammered this year — off 28 percent — but that it pays “an airtight 5 percent dividend.”
He
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