Jeff Immelt, General Electric Co.’s chief, said the conglomerate would likely need additional cost cuts to reach a closely watched 2018 profit target, given current struggles in global oil and gas markets. Wall Street has speculated on whether the industrial bellwether would walk back from the $2-a-share earnings target it set three years ago, and many are doubtful the company will make it. Analysts currently expect $1.89 a share,...

Source: Wall Street Journal May 24, 2017 17:03 UTC