General Electric (GE) Q1 Estimates Widely Off The Mark

General Electric (GE) reported earnings of $0.44 per share this morning, 7 cents worse than expected.  The actual number came in 6 cents worse than the low analyst estimate of $0.50 per share.  GE is known for reporting inline with estimates, so it's no surprise that the stock is down more than 10% in the pre-market on this news. 

We looked at the historical consensus Q1 EPS estimate for GE since last November, and it was surprising to see that estimates barely budged, even though estimates for the S&P 500 as a whole fell from expected EPS growth of 10% to -10%.  Estimates have come down quite a bit for most stocks and sectors (although many think they haven't fallen nearly enough).  They just didn't for GE, and the market is now suffering.

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