General Electric (GE) Lower Again On Fears
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After trading higher earlier, General Electric Co. (NYSE: GE) is lower again. The stock is trading at $20.63, down 3.5%. The 52-week low is $19.69. GE recently had that large stock offering at $22.25, which is now underwater.
There seems to be fear that the GE dividend could be cut after the recent capital raise and news BofA (NYSE: BAC) cut their dividend. The dividend yield on GE common is 5.7%.
Earlier today, Merrill Lynch lowered their 2008 profit forecast on GE to $1.96 and cut their price target to $23.
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