General Electric Shrugs Off Broad Market Rout

Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show. General Electric Company GE shares were trading higher by $0.17 at $27.45 in Friday's session. It is the only one of the top 10 components in the S&P 500 index that is in the green. The reason for that being the company reporting better-than-expected Q1 EPS, but coming up shy on revenue. After a higher open, it rallied and found resistance ahead of a pair of highs from Tuesday ($27.84) and Wednesday ($27.85), only reaching $27.50 before reversing course. On its decline, it found support ahead of Thursday's low ($27.18), only reaching $27.21 before rebounding and consolidating at the $27.45 area.