GE ended the day up/down 11 cents to end the day at $32.69. Blue chips are still getting hammered by the fear of oil prices, although as Brian White points out, many of the larger companies are simply using the high price of oil as an excuse.
Nonetheless, investor confidence is faltering and companies like GE are still taking one hard on the chin. GE, meanwhile, is still investing in a future with very different demographics than the present. GE invested $23 million in Lazer, a Spanish language broadcasting company. Its maverick water positioning and alternative technologies investment indicate that GE believes those items will be more necessary in the future than now. Does GE see a more hispanic US down the road that it will have media inroads to?
GE after the bell 08/08/06: oil prices still battering bluechips
Posted Aug 7th 2006 4:21PM by Tobias Buckell
Filed under: After the bell, Products and services, Industry, Competitive strategy, General Electric (GE)
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