Financial Services Industry
Industry: Email Alert RSS FeedGE says 'humbug' to profit rumors.
Investment News, November, 2000 by Gabriel Jr., Frederick P.
* "Profit warning? Nobody told us about a profit warning." That was the word coming out of General Electric Co. on Wednesday following rumors that it was about to come out with a profit warning. "Nothing could be further from the truth," Mark Vachon, vice president of investor relations, reportedly said of the rumor.
"Our operations continue to run at a record pace," Mr. Vachon said. "We remain very comfortable with analysts' estimates for both fourth-quarter and total-year 2000, which will deliver earnings per share of $1.27, up 19% over 1999."
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