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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Augustus Gloop who wrote (13909)	11/21/2002 10:02:51 AM
From: Jorj X Mckie	Read Replies (1) \| Respond to of 57110

08:17 ET GE General Electric guidance, charge expected (24.80) -- Update -- Charge announced this morning for co's ERC biz had been well-advertised. On Tues, the WSJ reported that a charge of $1-$2 bln would be announced at today's investor meeting. Solly cut 2003 estimates the same day to $1.65 from $1.70 and also predicted co would take a billion dollar charge. This morning, before the announcement, Deutsche lowered its 2003 est to $1.70 from $1.80 ahead of the investor meeting, predicting that GE would cut guidance to the $1.65-$1.70 range. In sum, GE's 2003 guidance of $1.55-$1.70 was pretty much in-line with analysts' lowered outlook and the $1.4 bln charge fell within the range of expectations. What may be considered somewhat of a surprise is the reduced 2002 guidance to $1.51 from $1.65... GE shares are trading up 1% in pre-market.