General Electric Co. tumbled the most in the S&P 500 Index after saying it was trending toward the low end of its 2022 financial forecast, the latest setback in its struggles with supply-chain turmoil and spiking raw-material costs.
While the maker of jet engines and gas turbines maintained its 2022 guidance of adjusted earnings in the range of $2.80 to $3.50 a share, it cited new pressures including pandemic-related restrictions in China and the war in Ukraine. Analysts had expected $3.24 on average, according to estimates compiled by Bloomberg.
