General Electric (GE) Posts Good Results

General Electric (NYSE: GE) posted better than expected results and surprised the market. Most of its business segments fared better than market consensus.

Talking with CNBC, General Electric’s CEO & Chairman Jeff Immelt said that GE is in a stable position. The company did not change its forecast for Y2010 and maintained its expectation for the flat YoY profits. GE expects to have at least $25 billion in cash by the end of the year for buybacks and dividend payments. He also hinted that the company will be on the lookout for acquisitions during the year.