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GE, perhaps the most global of the US conglomerates, misses estimates and reports a drop 5.8% drop in net income. Until expectations are damped down - way down - we shouldn't even consider any long positions.

Market Woes Hurt GE Results

GE reported an unexpected 5.8% decline in net income on weakness in its sprawling financial-services operations, dealing another blow to global markets concerned about a U.S.-led economic slowdown. 

GE Results Weigh on Stock Futures
Stock futures turned lower after disappointing results from General Electric cast a pall on the coming earnings season.