Shares of General Electric were up more than 2% in mid-day trading Tuesday after the company reported better-than-expected industrial free cash flow for the fourth quarter and a rosy outlook for this year.
The stock briefly jumped by more than 10% just before the markets opened Tuesday, but shed much of those gains throughout the day.
The company closed the fourth quarter with $4.37 billion in industrial free cash flow, a surprise after CEO Larry Culp projected at least $2.5 billion for the last three months of the year. The strong quarter pushed the company’s industrial free cash flow into positive territory for the year.
GE also projected it would generate $2.5 billion to $4.5 billion in…