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GE tumbles for a second day after announcing major overhaul


By Ankit Ajmera(Reuters) - General Electric Co's shares slumped for a second straight day on Tuesday as 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. It was last down 5.3 percent in late afternoon trade, adding to its 7.2 percent drop on Monday, which set the shares up for their worst two-day losing streak since the financial crisis in 2009.Flannery talked for two days about sweeping changes that will focus on ...

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First Published: Wed, November 15 2017. 00:38 IST