Will Competition, Cost, and Uncertainty Extend GE's Pullback?
Posted on January 17, 2013 at 13:33 PM EST
General Electric (NYSE:GE) was one of the strongest Dow (INDEXDJX:.DJI) components in 2012 with a 14.32% gain on the year but has pulled back 8.65% from its $23.12 high on October 5 2012. While some investors appear bullish going into tomorrow's earnings announcement in light of recent upward revisions by analysts it appears there is room remaining on the downside. The recent renewal of the Production Tax Credit is expected to bolster GE's wind-turbine business but its position in this market is coming under increasing attack by Chinese competitors like Goldwind (SHE:002202) Sinovel (SHA:601558) and United Power (HKG:0674) ...