Shares of General Electric rose by almost 5% in morning trading Tuesday after the company reported better-than-expected industrial free cash flow for the fourth quarter and a rosy outlook for this year.
The stock briefly jumped by more than 10% just before the markets opened Tuesday, but shed some of those gains.
The company closed the fourth quarter with $4.37 billion in industrial free cash flow, a surprise after CEO Larry Culp projected at least $2.5 billion for the last three months of the year. The strong quarter pushed the company’s industrial free cash flow into positive territory for the year.
