Check out the companies making headlines midday Wednesday:
General Electric — Shares of the global industrial company fell 6 percent Wednesday, adding to Tuesday’s losses after issuing a gloomy outlook in 2019. CEO Larry Culp forecasts negative net cash outflow from the industrial business this year, citing its struggling power-plant unit. J.P. Morgan analyst Stephen Tusa said in a note Wednesday that his $6 price target looks “generous” given the latest information.
Abercrombie & Fitch — Shares of Abercrombie & Fitch surged 22.15 percent after the retail company reported better-than-expected fourth-quarter results. The retailer posted an adjusted quarterly profit of $1.35 per share, beating a Refinitiv estimate by 20 cents. Its revenue also beat expectations. The company said its same-store sales jumped 3 percent, citing its strong performance in the U.S.