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GE Cuts Sales Outlook as Oil Drop Hampers Industrial Growth

 

geGeneral Electric Co. may not grow this year as low oil prices, a strong dollar and a sluggish economy crimp demand for oilfield equipment and locomotive parts, a setback for Chief Executive Officer Jeffrey Immelt as he pursues a sharpened focus on manufacturing.

The stock fell the most in more than a month after GE cut its outlook for organic sales growth. The company projected the figure would be flat to up 2 percent this year, after previously forecasting an increase of as much as 4 percent.

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