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GE Turnaround Inches Along With Forecast Boost as Max Risk Looms

  • Wall Street remains cautious on ‘iffy’ underlying operations
  • CFO Miller to step down soon as company seeks a replacement
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GE Raises 2019 Forecast as 2Q Earnings Beat Expectations
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General Electric Co. raised its forecast amid signs of improvement in the long-suffering power business, even as issues in the jet-engine division posed a new threat to Chief Executive Officer Larry Culp’s turnaround plan.

The industrial businesses will generate as much as $1 billion in cash this year, up from the previous range of no more than zero, GE said Wednesday as it reported second-quarter earnings. The company adopted its more upbeat outlook despite headwinds from the grounding of Boeing Co.’s 737 Max.