S&P 500 turns positive in afternoon trading as technology shares gain

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GE’s stock falls, on track to erase entire post-earnings rally

General Electric Co.’s stock dropped 0.6% in afternoon trade, putting it on track to erase everything it gained after the industrial conglomerate reported first-quarter results. GE shares pared earlier losses of as much as 1.7%. On April 20, the stock had surged 3.9% after GE beat profit and revenue expectations, which was the stock’s best one-day post-earnings performance in five years. GE’s stock was still up 8.9% from the April 9 close of $12.83, which was the lowest close since July 29, 2009. It was still down 19.9% year to date and 51.7% over the past 12 months, while the Dow Jones Industrial Average has lost 3.0% this year but rallied 14.7% the past year. On Monday, the stock fell 2.2%, but closed up 4.4% on the month, to snap a 13-month losing streak.

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