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[$$] No Bad News Counts as Good News at GE

Recall that just three years ago investors cheered the company’s radical downsizing of GE Capital and its plan to return $90 billion in cash by the end of 2018. The sad reality is the cash return was just $50 billion and GE’s loss in market value has been twice as much. The fact that GE didn’t eliminate its remaining dividend, beat analyst’s consensus estimate for first-quarter earnings per share and even reaffirmed its full-year guidance of $1.00 to $1.07 a share on Friday counts as great news relative to the market’s radically recalibrated expectations.