General Electric Company (NYSE:GE) Stock Down By 1.29%


Dallas, Texas 11/26/2013 (Financialstrend) – U.S. regulators are all set  to order airlines to avoid flying the  Boeing 787 Dreamliners and  the 747-8 jumbo jets that have General Electric Company (NYSE:GE) Engines, near thunderstorms after incidents of some planes experiencing ice buildup. A directive that is due this week is the “interim action” to ensure that pilots fly clear of such icing conditions that have to potential to  reduce thrust from the GEnx engines, said the FAA yesterday. The U.S. move comes in the wake of JAL’s decision to move to other jets on some of their Asian routes.

This icing risk makes it even more important for pilots to steer-clear of any thunderstorms that are already avoided due to the chances of lightening and turbulence. Jets that fly at high altitudes across tropical zones are at risk from powerful storms that promote this kind of ice formation that can affect the performance of the engine  said General Electric Company (NYSE:GE),  the largest jet engine manufacturer in the world.

Monday’s trading

Over Monday’s trading session, General Electric Company (NYSE:GE) dropped by 1.29%. The shares opened at a price of $27.14, climbed to the intraday high of $27.17 and headed to a close of $26.73. Around 32.34 million shares were exchanged on Monday and an average-volume of 39.52 million shares were traded over a period of 30 days. The 52-week low of General Electric Company (NYSE:GE) shares is $20.26 and the 52-week high is $27.50. General Electric Company (NYSE:GE) has a market capitalization of $270.44 billion.                                        

About the company

General Electric Company (NYSE:GE) is a diversified-technology & financial services company. Its products and services range from aircraft engines, water processing, and household appliances, power generation to medical imaging, consumer and business financing & industrial products. General Electric Company (NYSE:GE) serves customers in over 100 countries.