GE Posting Steep Loss After Seeing Early Volatility

(RTTNews) - Shares of General Electric Co. (GE) have seen considerable volatility on Tuesday and are firmly in negative territory in afternoon trading. After hitting a nine-month intraday low, GE is currently down by 8.4 percent.

The drop by GE comes after the industrial conglomerate reported weaker than expected third quarter results and slashed its quarterly dividend to $0.01 per share from $0.12 per share.

GE reported third quarter adjusted earnings of $0.14 per share on revenues of $29.6 billion compared to analyst estimates for earnings of $0.20 per share on revenues of $29.9 billion.