GE’s stock surges on heavy volume, is on track to snap six-session losing streak

GE’s stock surges on heavy volume, is on track to snap six-session losing streak

Shares of General Electric Co. GE, +0.99% rallied 1.1% in afternoon trade Wednesday, putting it on track to snap a six session losing streak. With 66.5 million shares traded, GE’s stock was the most actively traded on the NYSE. The Financial Times reported that GE has won a $15 billion power-generation contract from the Iraqi government, beating out Germany-based rival Siemens AG SIE, +0.47% GE’s stock had tumbled 11.1% amid its six-session losing streak, which followed a six-session win streak in which the stock soared 20.5% after the struggling industrial conglomerate named a new chief executive. The stock was still down 29.9% year to date, while the Dow Jones Industrial Average DJIA, -0.23% has gained 4.2%.

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