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New GE Can't Shake Old Woes as Power Slump Pressures Revamp Plan

  • Company trims cash-flow forecast on feeble gas-turbine demand
  • JPMorgan sees ‘challenged fundamentals,’ even in aviation unit
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Nick Heymann, head of global industrial infrastructure at William Blair, is very bullish on GE stock.Source: Bloomberg)
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The new General Electric Co. is being dogged by the same old problems.

The beaten-down manufacturer curbed its cash-flow expectations just weeks after unveiling an ambitious revitalization plan as it grapples with persistently sluggish demand for gas turbines. The shares plunged, even as GE revealed second-quarter results that topped Wall Street estimates.