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The Honolulu Advertiser
Posted on: Saturday, July 12, 2008

GE reports earnings down 6%

Associated Press

HARTFORD, Conn. — General Electric Co. reverted to form with no big surprises in its latest earnings report, and investors shocked by an unexpected profit shortfall three months ago showed their appreciation.

Even though earnings fell in the latest quarter, GE shares held their ground yesterday.

GE's share price edged up 2 cents to close at $27.66.

The conglomerate — whose interests range from making loans, TV shows and light bulbs to building industrial machinery — reported a 6 percent decline in its second-quarter earnings but that met analysts' expectations.