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GE Falls as Sales Miss Estimate on Equipment, Finance
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General Electric Co. fell the most since May after third-quarter sales missed analysts’ estimates, driven by lower shipments of equipment including wind turbines and the planned shrinking of the finance unit.
Revenue slid 5 percent to $35.9 billion, GE said today in a statement. Profit from continuing operations rose 29 percent to $3.16 billion, or 29 cents a share, buoyed by a rebound at the finance unit and in health care. That beat the 27-cent average estimate in a Bloomberg survey of 13 analysts.