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GE will stop giving forecasts

BUSINESS BRIEFING / EARNINGS

December 17, 2008|from times wire services

General Electric Co., in affirming its outlook for this year, did not provide any specific earnings-per-share targets for next year and said it would drop its practice of giving quarterly earnings forecasts.

The industrial conglomerate, which makes a variety of products including light bulbs and jet engines, has been battered by the financial crisis and problems with financing arm GE Capital. The decision to stop providing specific earnings guidance comes after the company struggled this year to meet its own forecasts.

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