General Electric, parent company of NBC Universal, cut its earning outlook today, the Wall Street Journal reports. The conglomerate cited “unprecedented weakness and volatility in the financial services markets” for the move. GE’s full-year target is now between $1.95 and $2.10 a share, down from the previous $2.20 to $2.30. CEO Jeff Immelt said his company was making “tough decisions to further reduce risk and strengthen our balance sheet while maintaining our dividend.”
—Christopher Perez