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Wall street with a recommendation to buy GE shares

General Electric Co. jumped after the company reported a surprising profit and forecast gains in free cash flow at the end of this year and in 2021. Adjusted earnings of 6 cents per share in the third quarter broke Wall Street’s expectations of a loss of 4 cents and sales of $ 1 , 4 billion also exceeded analysts’ estimates. Free cash flow to industry, a key indicator of earnings power, will be at least $ 2.5 billion in the fourth quarter and positive next year, GE said on Wednesday, when quarterly results are reported.

The financial improvement stimulated CEO Larry Culp’s efforts. The optimistic outlook underscores the company’s progress in stabilizing its operations in a crisis. “We are coping in a still difficult environment with better operational performance in our business and we are up to date with our costs and financial actions.”

Shares rose 7.4% to $ 7.63, despite falling in the broader market.

Chart: Used with permission from Bloomberg Finance L.P.

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 Junior Trader Mert Mustafa


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