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Market Extra: GE stock sinks as negative cash flow outlook wipes out gains from biopharma deal

Shares of General Electric Co. took another beating Wednesday, as selling on the back of Chief Executive Larry Culp’s downbeat cash flow outlook persisted for a second day to wipe out all the gains made from the deal to sell the biopharma business.

The selloff kept prices in a position of technical limbo, sandwiched between closely watched short-term and long-term trend trackers, for the longest stretch since the stock started bouncing off the financial-crisis bottom.

GE shares GE, -7.89% tumbled 7.9% to close at a 5-week low, and enough to pace the industrial sector’s losers. Trading volume swelled to about 205.8 million shares, making the stock the most actively traded on major U.S.

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