Analyst erred, GE Capital says
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General Electric Co. said an announced injection of $9.5 billion into its finance arm, GE Capital, means it won’t have to make more contributions if the unit’s ratio of earnings to fixed charges falls below a certain level.
A report Sunday from Nigel Coe, a New York analyst with Deutsche Bank, “failed to take into account” that contribution, GE said on its website.
Coe issued a clarification Tuesday in a note to investors.
GE shares rose for the first time since last Wednesday, gaining 23 cents to $9.08.
“The injection of cash means no additional funding from GE is needed even under the analyst’s earnings forecast,” GE said on its site.
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