General Electric GE Stock 3/12/09 March 12, 2009

General Electric ( GE ) stock is up on a rating change that was anticipated for over a week now. The positive thing is, the rating change was better then expected. GE's credit rating was dropped to AA+ with a stable outlook. Wall Street was pricing in a negative outlook when they were selling at $6 last week.

GE stock is now trading at $9.40 up 10.72% today
4:00pm est Update - GE stock closes at $9.57 up 12.72%

See Bill Gross Comments - he nailed it!


GE Statement on S&P Ratings Action

FAIRFIELD, CT – March 12, 2009 – Standard & Poor’s (S&P) today announced a single-notch downgrade of General Electric Company’s and General Electric Capital Corporation’s (GECC) long-term ratings from AAA to AA+, with a “stable” outlook. The ratings downgrade does not affect GE’s and GECC’s short-term funding ratings of A-1+, which was affirmed by S&P. The action follows a thorough review of GE’s portfolio by S&P. Full Article

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