GE's Losing Streak Reaches 12 Months With $135 Billion Wiped Out - Bloomberg

Bloomberg the Company & Its Products Bloomberg Anywhere Login Bloomberg Terminal Demo Request

Bloomberg 5 Settings
s
Subscribe to Businessweek
Markets
BREAKING
NEWS Kushner Loan Details Sought From Deutsche Bank, Two Others
c ‎9‎:‎56‎ ‎AM

GE's Losing Streak Reaches 12 Months With

$135 Billion Wiped Out
By Rick Clough
‎February‎ ‎28‎, ‎2018‎ ‎7‎:‎52‎ ‎AM

Talk about a year to forget for General Electric Co.

The beleaguered manufacturer is on pace to clinch its 12th consecutive monthly decline with
shares closing out February below where they started. The S&P’s 500 Index rose in 10 of those
months.

The year-long decline is the longest losing streak on record, according to data compiled by
Bloomberg that goes back to 1971. The 12-month tally of GE shareholder losses: $135 billion.

https://www.bloomberg.com/news/articles/2018-02-28/ge-s-losing-streak-reaches-12-months-with-135-billion-wiped-out[2/28/2018 10:03:00 AM]

GE's Losing Streak Reaches 12 Months With $135 Billion Wiped Out - Bloomberg

Chief Executive Offcer John Flannery, who took the helm in mid-2017, is cutting costs and
reshaping the portfolio to try to pull GE out of one of the worst slumps in its 126-year history.
The Boston-based company has faced myriad challenges, from fagging demand for industrial
equipment to a Securities and Exchange Commission probe of its accounting.

Down and Out

GE's shares have declined every month for the past year

-18-16-14-12-10-8-6-4-20%Mar2017Apr2017May2017Jun2017Jul2017Aug2017Sep2017Oct2017Nov2017Dec
Jan2018Feb2018

Note: Data through Feb. 27

The slide started as cash-fow problems emerged under former CEO Jeffrey Immelt, and only
got worse after Flannery slashed the dividend and revealed poor earnings. While the new CEO
won praise this week for an overhaul of the board, at least one analyst said GE isn’t poised for a
quick rebound: Julian Mitchell at Barclays said he’s inclined to "wait on the sidelines until we
have a clearer sense that the bottom has been reached.”

Shares fell 1.2 percent to $14.33 at 10:19 a.m. in New York.

Before it's here, it's on the Bloomberg Terminal.

LEARN MORE

Have a confdential news tip?

Get in touch with our reporters.

https://www.bloomberg.com/news/articles/2018-02-28/ge-s-losing-streak-reaches-12-months-with-135-billion-wiped-out[2/28/2018 10:03:00 AM]

GE's Losing Streak Reaches 12 Months With $135 Billion Wiped Out - Bloomberg

Terms of Service Trademarks Privacy Policy Careers Made in NYC Advertise Ad Choices
©2018 Bloomberg L.P. All Rights Reserved Website Feedback Help

https://www.bloomberg.com/news/articles/2018-02-28/ge-s-losing-streak-reaches-12-months-with-135-billion-wiped-out[2/28/2018 10:03:00 AM]