General Electric Slips as it Adjusts Forecast Down

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General Electric (GE) - Get Report was down 3%, the most active stock on the NYSE, but was still off its low for the morning of $28.50.

After the open, GE cut earnings estimates but said it is on track to deliver double-digit growth in 2001 and 2002.

The company said that despite a 4-cent per share hit in 2001 for insurance losses, it is targeting growth in earnings per share of 11%, to $1.41 per share from $1.27 in 2000.

Before last week's terrorist attacks, GE had expected earnings of about $1.45.

The stock has been heavily traded and was heading lower all week.

Also active this morning, mobile phone manufacturer

Nokia

(NOK) - Get Report

was down 6.8%, while

Ericsson

(ERICY)

was down 4.8%.