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GE stock deflates for a second day after announcing major overhaul


By Ankit Ajmera(Reuters) - General Electric Co's shares drifted lower for a second straight day on Tuesday after investors wondered if a massive overhaul by new Chief Executive John Flannery to save billions and make the conglomerate smaller was enough to revive the 125-year old Dow component.GE's stock fell as much as 8.2 percent to $17.46, setting it up for its worst two-day losing streak since the financial crisis in 2009. Flannery talked for two days about sweeping changes that will focus on three core businesses but instead it cut about $24 billion off GE's market capitalisation.Several ...

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First Published: Tue, November 14 2017. 23:59 IST