U.S. Markets open in 6 hrs 44 mins

GE to delay earnings report by 5 days, shares fall for 4th-straight session

Tomi Kilgore

General Electric Co. said Friday it was delaying the release of its third-quarter results by five days to Oct. 30, to allow new Chief Executive Larry Culp to complete his initial business reviews and sit visits. The stock fell 1.3% in morning trade, and has now shed 7.7% amid a four-session losing streak. The industrial conglomerate was previously scheduled to report results, for the quarter ended Sept. 30, on Oct. 25, before the market opens. In the third-quarter webcast, scheduled for 8:00 a.m. Eastern, Culp while share his initial observations, with more detail expected in early 2019. The stock has still run up 11.4% since Culp was announced as CEO before the Oct. 1 open, while the SPDR Industrial Select Sector ETF has lost 5.3% and the Dow Jones Industrial Average has dropped 4.4%.