GE's Stock Falls Toward 21-month Low, Leads Dow Losers For 2nd-straight Session

Shares of General Electric Co. fell 1.1% in midday trade Friday, putting them on track to close at a 21-month low and to pace the Dow Jones Industrial Average's losers for a second-straight session. On Thursday, the stock slumped 3.8% to close at the lowest level since Oct. 2, 2015, after J.P. Morgan slashed its stock price target, citing an uncertain outlook and a lack of growth potential, and Moody's Investors Service said GE's acquisition of oil services company Baker Hughes Inc. underscored the need to boost earnings and cash flow. GE's stock is headed for the 11th decline in the past 14 sessions, and has shed 10.3% during that stretch. It has tumbled 17.6% year to date, while the SPDR Industrial Select Sector ETF has climbed 10.5% and the Dow has gained 8.3%.