Shares of General Electric Co. rallied 2.1% in morning trade Thursday, enough to pace the Dow Jones Industrial Average gainers, after the industrial conglomerate announced job cuts at its power division. The stock was on track for the biggest one-day percentage gain since Nov. 10, which was the day before new Chief Executive John Flannery’s unveiling of his turnaround plan triggered a plunge in price. The stock was still down 1.4% this month, and 25.5% since the end of September, while the Dow has slipped 0.4% this month and gained 8.0% this quarter.
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