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GE swings to a profit

Some light at the end of the tunnel for GE.

General Electric swung to a quarterly profit from a loss, as the beleaguered conglomerate's earnings from continuing operations more than tripled.

Rising sales at its aviation, oil and gas, and healthcare businesses helped boost those results.

Another sign GE's fortunes may be starting to improve under its new boss, Larry Culp: it burned through a lot less cash than expected.

Investors liked what they saw, driving GE's shares sharply higher at the market open Tuesday.

They've now gained 40 percent this year after a terrible 2018 that saw its stock lose its spot on the Dow Jones Industrial index.

GE was once America's most valuable company and widely seen as a barometer for the economy.

But GE still has a lots of work to do.

Profit margins shrank at its three core businesses: power, renewable energy, and aviation.

And GE warned that that as a supplier of jet engines to Boeing, the 737 MAX jet presented what it called a "new risk".

Airlines around the world grounded that plane last month after it suffered two fatal crashes in less than five months.




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