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GE to focus on three businesses; slashes dividend, profit outlook

Reuters 

By Alwyn Scott and Ankit Ajmera(Reuters) - General Electric Co will focus on aviation, power and healthcare, radically shrinking the most famous U.S. conglomerate into a smaller company betting on industries where it has strong technology and a large customer base.In a plan unveiled on Monday by new Chief Executive John Flannery, GE cut its dividend and profit outlook in half, sending its stock down 2.7 percent, as Wall Street worried about how the slimmed down company will generate cash to justify its valuation. "By the numbers, we see a core operating performance that is below plan, and, ...

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First Published: Mon, November 13 2017. 20:19 IST
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